$5,664 Closing Credit*
$477,000
1,498 SqFt
2 Beds
•2 Full Baths
Cynthia Lorraine Whiting, Listing Office: Ideal Lifestyles, Inc
Is South Palm Beach, 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, South Palm Beach was a Seller's Market.
Key Takeaway
South Palm Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Palm Beach, FL
How much do homes in South Palm Beach, FL cost?
Median Sold Price
$470,000
$393/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$22,550(+5.0%)
Key Takeaway
Homes in South Palm Beach have sold for 5% more than they did a year ago.
Summary: The median home sold price in South Palm Beach was $470,000 in October 2024, up 5% from last year, and the median price per square foot was $393.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320K | $256.2K | -19.9% |
| 2 Bedrooms | $449.9K | $490K | +8.9% |
| 3 Bedrooms | $1.1M | $1.4M | +31.8% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: South Palm Beach housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.9%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 31.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Palm Beach | $1.1M | $1.2M | +15.9% |
| Lantana | $365K | $406.4K | +11.3% |
| South Palm Beach | $447.4K | $470K | +5.0% |
Housing Supply in South Palm Beach, FL
How many homes are available in South Palm Beach, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 90 | 103 | +14.4% |
Summary: The South Palm Beach real estate market had 103 homes for sale in October 2024, a 14.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 20 | 24 | +20.0% |
| 2 Bedrooms | 59 | 67 | +13.6% |
| 3 Bedrooms | 11 | 12 | +9.1% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The South Palm Beach housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 9.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Palm Beach, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in South Palm Beach in October 2024, up by 50.0% month-over-month. Of the 6 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for South Palm Beach, FL
How long does it take to sell a home in South Palm Beach, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 72 Days | 179 Days | +146.1% |
Summary: Homes in South Palm Beach had an average of 179 days on market in Oct 2024, up by 146.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in South Palm Beach are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 6 homes were sold in South Palm Beach; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
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