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 April 2023
At the same time last year, West Palm Beach was a Seller's Market.
Housing Prices in West Palm Beach, FL
How much do homes in West Palm Beach, FL cost?
Median Sold Price
$386,296
$267/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in West Palm Beach was $386,296 in April 2024, up 3.1% from last year, and the median price per square foot was $267.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $160K | $129.5K | -19.1% |
2 Bedrooms | $285K | $279.3K | -2.0% |
3 Bedrooms | $453.2K | $465.9K | +2.8% |
4 Bedrooms | $625K | $658.6K | +5.4% |
5+ Bedrooms | $965K | $1.0M | +11.5% |
Summary: West Palm Beach housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.1%, 2 bedroom homes decreased by 2%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 11.5%.
Median Sold Price Compared To Nearby Cities
West Palm Beach | $374.8K | $386.2K | +3.1% |
Riviera Beach | $414.5K | $386.8K | -6.7% |
Palm Beach | $1.6M | $1.1M | -31.3% |
Housing Supply in West Palm Beach, FL
How many homes are available in West Palm Beach, FL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2,491 | 2,652 | +6.5% |
Summary: The West Palm Beach real estate market had 2,652 homes for sale in April 2024, a 6.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 414 | 439 | +6.0% |
2 Bedrooms | 905 | 989 | +9.3% |
3 Bedrooms | 706 | 737 | +4.4% |
4 Bedrooms | 309 | 320 | +3.6% |
5+ Bedrooms | 157 | 167 | +6.4% |
Summary: The West Palm Beach housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 6.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
329 | 345 | +4.9% |
Asking Price vs. Sold Price
274 Homes Were Sold
Under Asking
42 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Summary: A total of 345 homes were sold or pending in West Palm Beach in April 2024, up by 4.9% month-over-month. Of the 345 sold homes, 79% were sold under asking, 12% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
54 Days | 59 Days | +10.5% |
Summary: Homes in West Palm Beach had an average of 59 days on market in Apr 2024, up by 10.5% compared to last year.
Breakdown of Home Sale Times
148 Homes Were Sold
Under 30 Days
122 Homes Were Sold
In 30 - 90 Days
75 Homes Were Sold
Over 90 Days
Summary: During April 2024, 345 homes were sold in West Palm Beach; 43% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.