The housing market Palm Beach County in Palm Beach County continues to pull back from it’s pandemic heydays.

Home sales across all property types declined by 9.9% to 23,466 units. This is a sharp drop from the 37,626 sale transactions that took place during 2021. Single family home sales were down by 4.0%, while condominiums and townhomes declined by 17%.

Despite the downturn in sales, the median price continued its upward trend, reaching $495,000 in 2024 which is a new record high.

Single family home values increased by 5 .5% to $630,000, while condominiums and townhomes grew by 3.2%.

Inventory has recovered to pre-pandemic levels, reaching over 13,000 active listings available for sale as of the end of 2024, up 36.1%.

Single family home inventory increased by 23.2% during the year, while condominiums and townhomes were up 47.5%.

Palm Beach County Luxury Homes

Sales of the luxury home segment experienced a differing trend to that of the broader market. During 2024, sales on properties $1,000,000 and greater increased by 6.8%.

Single family home sales were increased by 9.9%, while condominiums and townhomes declined by 2.7%.

Median sale prices were flat during 2024, coming at $1 ,650,000 and returning to 2018 levels.

Single family home values were up by 4.4%, while condominiums and townhomes were down by 9.9%.

Active inventory has substantially increased and is at an all time high of 3,137 units, up 13% year-over-year.

Single family home inventory increased by 3.1% during the year, while condominiums and townhomes were up 38.1%.

Do you have a property to sell?

If you have a property that you need to sell, now is the time to call Quantum Realty Advisors, Inc. for a free, 30-minute consultation to discuss your immediate needs and how we can help to address them. 

On behalf of our clients and strategic partners, we have successfully sell over hundreds of residential and commercial properties in most major markets nationwide. 

Our team has an extensive network of highly experienced partner brokers who can assist with all the local requirements, and we will personally be there for you every step of the way. 

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