Search homes for sale in Palm Beach including condos, new listings and more with Palm Beach expert, Sarah Mahoney.
Palm Beach, FL Housing Market
In October 2024, Palm Beach home prices experienced a significant 34.7% year-over-year decline, with the median price dropping to $1.7M. Homes spent an average of 131 days on the market, slightly longer than the 113 days recorded last year, reflecting a slower pace of sales. Additionally, the number of homes sold decreased to 10 from 16 in October 2023, suggesting reduced market activity. These trends indicate a softer market, presenting potential opportunities for buyers to negotiate more favorable deals in this luxury destination.
The Palm Beach housing market is relatively relaxed, with homes typically selling in about 116 days. Multiple offers are uncommon, and most properties sell for approximately 10% below the list price before going pending. However, hot homes, which are more desirable or well-priced, tend to move faster, selling for around 3% below the list price and going pending in approximately 55 days. This dynamic gives buyers an advantage in negotiations while still presenting opportunities for sellers with standout properties to attract quicker offers.
In November 2024, Palm Beach, FL, was a buyer's market, indicating that the supply of homes exceeded buyer demand. This market condition provides buyers with more options and stronger negotiating power when it comes to pricing and terms. For sellers, it emphasizes the need for strategic pricing and effective marketing to stand out in a market with abundant inventory.
Have questions about the Palm Beach housing market or ready to explore luxury properties in this iconic destination? Sarah is here to guide you every step of the way. Whether you’re just starting your search or looking to schedule a showing, she’s ready to provide personalized assistance and expert advice. Don’t wait—contact Sarah today and take the first step toward owning your dream home in Palm Beach, FL!
Explore the unparalleled elegance and charm of Palm Beach with our comprehensive neighborhood guide. From local market trends to lifestyle highlights, this guide has everything you need to learn about one of Florida’s most luxurious communities. Start browsing now and find out why Palm Beach is the perfect place to call home!
Sarah's extraordinary track record is the result of their ability to truly understand her client's wants and needs, masterful negotiating, and most of all, unwavering dedication to positive relationship building. Contact Sarah today to discuss all your real estate needs!
