Is North 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, North Palm Beach was a Seller's Market.
Key Takeaway
North Palm Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in North Palm Beach, FL
How much do homes in North Palm Beach, FL cost?
Median Sold Price
$531,666
$375/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in North Palm Beach have sold for 17.6% more than they did a year ago.
Summary: The median home sold price in North Palm Beach was $531,666 in April 2024, up 17.6% from last year, and the median price per square foot was $375.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $202K | $214.5K | +6.2% |
| 2 Bedrooms | $380K | $390K | +2.6% |
| 3 Bedrooms | $653.7K | $770K | +17.8% |
| 4 Bedrooms | $910K | $1.3M | +42.9% |
| 5+ Bedrooms | $4.7M | $4.7M | -0.4% |
Summary: North Palm Beach housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.2%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 17.8%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes decreased by 0.4%.
Median Sold Price Compared To Nearby Cities
| Lake Park | $325K | $405K | +24.6% |
| North Palm Beach | $452.2K | $531.6K | +17.6% |
| Palm Beach Gardens | $631.4K | $715.4K | +13.3% |
| Riviera Beach | $414.5K | $386.8K | -6.7% |
Housing Supply in North Palm Beach, FL
How many homes are available in North Palm Beach, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 349 | 348 | -0.3% |
Summary: The North Palm Beach real estate market had 348 homes for sale in April 2024, a 0.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 35 | 35 | 0.0% |
| 2 Bedrooms | 157 | 151 | -3.8% |
| 3 Bedrooms | 92 | 95 | +3.3% |
| 4 Bedrooms | 41 | 39 | -4.9% |
| 5+ Bedrooms | 24 | 28 | +16.7% |
Summary: The North Palm Beach housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 3.8%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 4.9%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 49 | 40 | -18.4% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in North Palm Beach, you may be able to get a good deal. 95% of homes here sold below asking price last month.
Summary: A total of 40 homes were sold or pending in North Palm Beach in April 2024, down by 18.4% month-over-month. Of the 40 sold homes, 95% were sold under asking, 3% were sold at asking, and 3% were sold over asking.
Days on Market for North Palm Beach, FL
How long does it take to sell a home in North Palm Beach, FL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 71 Days | +49.3% |
Summary: Homes in North Palm Beach had an average of 71 days on market in Apr 2024, up by 49.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Palm Beach are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 40 homes were sold in North Palm Beach; 38% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
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