$3,400,000
1,998 SqFt
4 Beds
•3 Full Baths, 1 Partial
Travis C Laas, Listing Office: Engel & Volkers Wellington
Is Palm Beach County, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Palm Beach County was a Seller's Market.
Key Takeaway
Palm Beach County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Palm Beach County, FL
How much do homes in Palm Beach County, FL cost?
Median Sold Price
$499,633
$299/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$42,798(+9.4%)
Key Takeaway
Homes in Palm Beach County have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in Palm Beach County was $499,633 in October 2024, up 9.4% from last year, and the median price per square foot was $299.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145.5K | $150.1K | +3.2% |
| 2 Bedrooms | $300.4K | $309.9K | +3.2% |
| 3 Bedrooms | $520.4K | $549.9K | +5.7% |
| 4 Bedrooms | $763.8K | $823.5K | +7.8% |
| 5+ Bedrooms | $1.3M | $1.5M | +14.7% |
Summary: Palm Beach County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.2%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 14.7%.
Median Sold Price Compared To Nearby Counties
| Palm Beach County | $456.8K | $499.6K | +9.4% |
| Broward County | $410K | $447.7K | +9.2% |
| Okeechobee County | $248.7K | $270K | +8.5% |
| Martin County | $464.5K | $482.6K | +3.9% |
| Hendry County | $311.9K | $300.6K | -3.6% |
Housing Supply in Palm Beach County, FL
How many homes are available in Palm Beach County, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13,347 | 14,450 | +8.3% |
Summary: The Palm Beach County real estate market had 14,450 homes for sale in October 2024, a 8.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1,124 | 1,243 | +10.6% |
| 2 Bedrooms | 4,975 | 5,444 | +9.4% |
| 3 Bedrooms | 4,333 | 4,658 | +7.5% |
| 4 Bedrooms | 1,730 | 1,822 | +5.3% |
| 5+ Bedrooms | 1,185 | 1,283 | +8.3% |
Summary: The Palm Beach County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.6%, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,500 | 1,459 | -2.7% |
Asking Price vs. Sold Price
1,186 Homes Were Sold
Under Asking
184 Homes Were Sold
At Asking
89 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palm Beach County, you may be able to get a good deal. 81.3% of homes here sold below asking price last month.
Summary: A total of 1,459 homes were sold or pending in Palm Beach County in October 2024, down by 2.7% month-over-month. Of the 1,459 sold homes, 81% were sold under asking, 13% were sold at asking, and 6% were sold over asking.
Days on Market for Palm Beach County, FL
How long does it take to sell a home in Palm Beach County, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 44 Days | 66 Days | +50.8% |
Summary: Homes in Palm Beach County had an average of 66 days on market in Oct 2024, up by 50.8% compared to last year.
Breakdown of Home Sale Times
570 Homes Were Sold
Under 30 Days
484 Homes Were Sold
In 30 - 90 Days
405 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palm Beach County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 1459 homes were sold in Palm Beach County; 39% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.
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Copyright © 2024 Multiple Listing Service of South Brevard, Inc. and Space Coast Association of REALTORS, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity™ Program of Space Coast Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable But Not Guaranteed. Real estate listings held by brokerage firms other this broker are marked with the Broker Reciprocity™ logo or the Broker Reciprocity™ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available.
The data relating to real estate for sale on this website comes in part from the Southwest Florida Multiple Listing Service. The information being provided is for consumers` personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information has not been verified, is not guaranteed, and is subject to change. Real estate listings held by other brokerage firms other are marked with the IDX logo and detailed information about them includes the name of the listing brokers.