Is Palm Beach Gardens, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Palm Beach Gardens was a Seller's Market.
Key Takeaway
Palm Beach Gardens is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Palm Beach Gardens, FL
How much do homes in Palm Beach Gardens, FL cost?
Median Sold Price
$709,812
$365/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Palm Beach Gardens have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in Palm Beach Gardens was $709,812 in May 2024, up 11.2% from last year, and the median price per square foot was $365.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | $264K | +10.0% |
| 2 Bedrooms | $385K | $409.6K | +6.4% |
| 3 Bedrooms | $656K | $699.7K | +6.7% |
| 4 Bedrooms | $1.1M | $1.2M | +6.7% |
| 5+ Bedrooms | $1.9M | $2.2M | +15.3% |
Summary: Palm Beach Gardens housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 15.3%.
Median Sold Price Compared To Nearby Cities
| Lake Park | $320K | $410K | +28.1% |
| North Palm Beach | $460K | $551.6K | +19.9% |
| Jupiter | $671.1K | $747.4K | +11.4% |
| Palm Beach Gardens | $638.4K | $709.8K | +11.2% |
| Riviera Beach | $405K | $389K | -3.9% |
Housing Supply in Palm Beach Gardens, FL
How many homes are available in Palm Beach Gardens, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 880 | 886 | +0.7% |
Summary: The Palm Beach Gardens real estate market had 886 homes for sale in May 2024, a 0.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 11 | -15.4% |
| 2 Bedrooms | 194 | 195 | 0.5% |
| 3 Bedrooms | 386 | 401 | +3.9% |
| 4 Bedrooms | 171 | 168 | -1.8% |
| 5+ Bedrooms | 116 | 111 | -4.3% |
Summary: The Palm Beach Gardens housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 15.4%, 2 bedroom homes increased by 0.5%, 3 bedroom homes increased by 3.9%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes decreased by 4.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 149 | 145 | -2.7% |
Asking Price vs. Sold Price
120 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palm Beach Gardens, you may be able to get a good deal. 82.8% of homes here sold below asking price last month.
Summary: A total of 145 homes were sold or pending in Palm Beach Gardens in May 2024, down by 2.7% month-over-month. Of the 145 sold homes, 83% were sold under asking, 8% were sold at asking, and 9% were sold over asking.
Days on Market for Palm Beach Gardens, FL
How long does it take to sell a home in Palm Beach Gardens, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 54 Days | 60 Days | +11.0% |
Summary: Homes in Palm Beach Gardens had an average of 60 days on market in May 2024, up by 11% compared to last year.
Breakdown of Home Sale Times
65 Homes Were Sold
Under 30 Days
42 Homes Were Sold
In 30 - 90 Days
38 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palm Beach Gardens are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 145 homes were sold in Palm Beach Gardens; 45% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.
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