$6,971 Closing Credit*
$587,000
1,539 SqFt
Kendra Concepcion, Listing Office: Miami New Realty
Is West 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, West Palm Beach was a Seller's Market.
Key Takeaway
West Palm Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in West Palm Beach, FL
How much do homes in West Palm Beach, FL cost?
Median Sold Price
$395,666
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$21,516(+5.8%)
Key Takeaway
Homes in West Palm Beach have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in West Palm Beach was $395,666 in October 2024, up 5.8% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $129.5K | $128K | -1.2% |
| 2 Bedrooms | $272K | $273.6K | +0.6% |
| 3 Bedrooms | $455.4K | $499.6K | +9.7% |
| 4 Bedrooms | $632.5K | $696.5K | +10.1% |
| 5+ Bedrooms | $990K | $1.1M | +13.6% |
Summary: West Palm Beach housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.2%, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 13.6%.
Median Sold Price Compared To Nearby Cities
| Palm Beach | $1.1M | $1.2M | +15.9% |
| West Palm Beach | $374.1K | $395.6K | +5.8% |
| Riviera Beach | $408.4K | $397.5K | -2.7% |
Housing Supply in West Palm Beach, FL
How many homes are available in West Palm Beach, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2,314 | 2,478 | +7.1% |
Summary: The West Palm Beach real estate market had 2,478 homes for sale in October 2024, a 7.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 397 | 420 | +5.8% |
| 2 Bedrooms | 879 | 934 | +6.3% |
| 3 Bedrooms | 658 | 699 | +6.2% |
| 4 Bedrooms | 244 | 265 | +8.6% |
| 5+ Bedrooms | 136 | 160 | +17.6% |
Summary: The West Palm Beach housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.8%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 17.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 264 | 196 | -25.8% |
Asking Price vs. Sold Price
153 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Palm Beach, you may be able to get a good deal. 78.1% of homes here sold below asking price last month.
Summary: A total of 196 homes were sold or pending in West Palm Beach in October 2024, down by 25.8% month-over-month. Of the 196 sold homes, 78% were sold under asking, 14% were sold at asking, and 8% were sold over asking.
Days on Market for West Palm Beach, FL
How long does it take to sell a home in West Palm Beach, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 45 Days | 72 Days | +61.2% |
Summary: Homes in West Palm Beach had an average of 72 days on market in Oct 2024, up by 61.2% compared to last year.
Breakdown of Home Sale Times
77 Homes Were Sold
Under 30 Days
59 Homes Were Sold
In 30 - 90 Days
60 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Palm Beach are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 196 homes were sold in West Palm Beach; 39% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. Copyright 2024 BeachesMLS, Inc. 
© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively 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. This property is offered without respect to any protected classes in accordance with the law.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.
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.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange program of Central Panhandle Association of REALTORS®. IDX information is provided exclusively 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 deemed reliable but not guaranteed. Properties subject to prior sale, change, withdrawal or rental. Copyright© 2024 Central Panhandle Association of REALTORS.© All Rights Reserved.