Search West Palm Beach homes for sale including condos, new listings and more with West Palm Beach expert, Sarah Mahoney.
West Palm Beach, FL Housing Market Trends
In September 2024, West Palm Beach home prices experienced a 7.9% increase compared to the previous year, with the median sale price rising to $410K. Despite this growth in pricing, homes are taking longer to sell, with the average time on the market extending to 85 days, up from 65 days in 2023. The number of homes sold also declined, with 140 sales in September, down from 191 in the same month last year, indicating a slowdown in market activity. Interestingly, while overall home prices have risen, the median price per square foot dropped by 2.5%, now standing at $270. This suggests that while prices are climbing, buyers may be paying more for larger homes or different types of properties, contributing to the evolving dynamics of the West Palm Beach real estate market.
The West Palm Beach housing market is relatively slow and not highly competitive. On average, homes take about 81.5 days to sell, with multiple offers being uncommon. Most homes sell for approximately 5% below the list price and go under contract in around 82 days. However, "hot homes"—those in high demand—can sell closer to the listing price and typically go pending in around 43 days. This slower pace provides buyers with more time and room for negotiation, making it a more favorable market for those looking to purchase.
Nationwide, 2% of homebuyers are looking to relocate to West Palm Beach from other metropolitan areas. Among these, New York homebuyers show the greatest interest in moving to West Palm Beach, followed closely by buyers from Washington, D.C., and Boston. This trend highlights West Palm Beach’s growing appeal as a destination for those seeking a warmer climate and a relaxed lifestyle, particularly for individuals from larger, colder metropolitan areas looking for a change of pace.
Whether you're just starting your home search or ready to make a purchase, Sarah is here to help. With her in-depth knowledge of the West Palm Beach market, she can provide the insights and support you need to find the perfect property. Have questions or need more information? Reach out to Sarah for personalized assistance—she's ready to guide you through every step of your real estate journey!
Explore everything West Palm Beach, FL has to offer with our in-depth neighborhood guide! Whether you’re considering a move or just curious about the area, our guide gives you a detailed look at the best places to live, work, and play. From local real estate insights to top dining, entertainment, and outdoor spots, we’ve got you covered. Dive into our guide to learn more about what makes West Palm Beach a vibrant and desirable 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!
