$14,950,000
3,390 SqFt
4 Beds
•4 Full Baths, 1 Partial
Suzanne Trapani Frisbie, Listing Office: The Corcoran Group
Is Palm Beach, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Palm Beach has remained a Buyer's Market.
Key Takeaway
Palm Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Palm Beach, FL
How much do homes in Palm Beach, FL cost?
Median Sold Price
$1,275,000
$795/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$175,000(+15.9%)
Key Takeaway
Homes in Palm Beach have sold for 15.9% more than they did a year ago.
Summary: The median home sold price in Palm Beach was $1,275,000 in November 2024, up 15.9% from last year, and the median price per square foot was $795.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $375K | $370K | -1.3% |
| 2 Bedrooms | $750K | $950K | +26.7% |
| 3 Bedrooms | $2.6M | $3.0M | +19.1% |
| 4 Bedrooms | $8.9M | $9.7M | +8.6% |
| 5+ Bedrooms | $15.5M | $16.8M | +8.7% |
Summary: Palm Beach housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.3%, 2 bedroom homes increased by 26.7%, 3 bedroom homes increased by 19.1%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 8.7%.
Median Sold Price Compared To Nearby Cities
| Palm Beach | $1.1M | $1.2M | +15.9% |
| Lantana | $367.9K | $395K | +7.4% |
| Lake Worth | $437.9K | $459.8K | +5.0% |
Housing Supply in Palm Beach, FL
How many homes are available in Palm Beach, FL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 349 | 423 | +21.2% |
Summary: The Palm Beach real estate market had 423 homes for sale in November 2024, a 21.2% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 61 | 63 | +3.3% |
| 2 Bedrooms | 159 | 194 | +22.0% |
| 3 Bedrooms | 68 | 83 | +22.1% |
| 4 Bedrooms | 26 | 36 | +38.5% |
| 5+ Bedrooms | 35 | 47 | +34.3% |
Summary: The Palm Beach housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.3%, 2 bedroom homes increased by 22%, 3 bedroom homes increased by 22.1%, 4 bedroom homes increased by 38.5%, and 5+ bedroom homes increased by 34.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Palm Beach, you may be able to get a good deal. 93.8% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Palm Beach in November 2024, up by 6.7% month-over-month. Of the 16 sold homes, 94% were sold under asking, 0% were sold at asking, and 6% were sold over asking.
Days on Market for Palm Beach, FL
How long does it take to sell a home in Palm Beach, FL?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 113 Days | 119 Days | +5.7% |
Summary: Homes in Palm Beach had an average of 119 days on market in Nov 2024, up by 5.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Palm Beach are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 16 homes were sold in Palm Beach; 19% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 56% of homes were sold over 90 days.
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