A More Balanced Market in Palm Beach County: What Buyers and Sellers Need to Know

Over the last two years, the Palm Beach County real estate market has stayed active—but it’s definitely calmed down compared to the fast-paced frenzy we all remember. The big story for single-family homes is stability with a few ups and downs along the way. In early 2024, prices were sitting around $615,000, then climbed into the mid-$600,000s, peaking near $660,000 in June 2024. After that, prices cooled a bit and even dipped to about $600,000 in November 2024. In 2025, the market continued that same “wave” pattern—prices rose to around $650,000 in January, then floated mostly between $625,000 and $645,000 for much of the year, finishing around $630,000 in December 2025. What this tells us is simple: home values are holding up. Buyers are more careful and price-conscious, but the market hasn’t fallen apart—it’s just becoming more normal.

The bigger change has been how long it takes homes to go under contract. At the start of 2024, the typical home took about 38 days to get a contract. As the year went on, that number gradually climbed into the mid-40s, hitting 45 days in October 2024. In 2025, we saw even more slowdown, with 50 days in February and low 50s later in the year (around 51–52 days by fall and December). For buyers, this is good news: it usually means less pressure, more time to think, and more room to negotiate. For sellers, it means pricing and presentation matter more than ever. Homes that are priced right and show well still move—but the “throw it on the market and wait for multiple offers” strategy isn’t as reliable anymore.

Condos and townhomes have followed a slightly different path. Prices have been more uneven and, overall, a bit softer than the single-family market. In early 2024, the median price was around $325,000, rising to about $340,000 in the spring (April–May). Later in 2024, prices drifted back down into the low $300,000s, bottoming near $305,000. In 2025, we saw a couple of rebounds—touching $330,000 in January and again in May—but then prices dropped to the lowest point of the period at about $285,000 in August 2025, before recovering into the $300,000–$320,000 range and ending around $310,000. This part of the market seems more sensitive to affordability, competition, and monthly payment concerns.

And speaking of payments, mortgage rates are still high by recent standards. The average 30-year fixed mortgage rate has been around 6.10%, and while inflation has improved compared to the peak, it’s still not back to “super low” territory. That combination keeps buyers focused on what they can comfortably afford each month, not just the purchase price. The result? More negotiation, more attention to value, and more importance placed on seller concessions, price adjustments, and homes that are move-in ready. In today’s market, the best outcomes come from smart pricing, strong marketing, and realistic expectations—whether you’re buying or selling.