December 2024
Palm Beach Gardens Market Stats
As the year ends, Palm Beach Gardens' real estate market reflects key trends in both single-family homes and townhouses/condos. Market activity continues to adapt, with varying price movements, sales activity, and inventory levels shaping opportunities for buyers and sellers alike.
Palm Beach Gardens Single-Family Homes
-
Closed Sales: 53, an 8.2% increase from last year, indicating continued buyer demand.
-
Median Sales Price: $962,000, a 14% decline compared to the previous year, offering more opportunities for buyers.
-
Active Inventory: 324, a 6.9% rise, suggesting a broader selection of homes on the market.
-
Months Supply of Inventory: 5.0, unchanged from last year, maintaining a balanced market.
-
New Listings: 69, a 4.2% decrease, potentially limiting fresh supply.
-
New Pending Sales: 55, a 28% jump, highlighting increased buyer interest.
Palm Beach Gardens Townhouses and Condos
-
Closed Sales: 51, a 3.8% drop from the previous year, signaling a slight slowdown.
-
Median Sales Price: $420,000, reflecting a 5.1% decrease, making properties more accessible.
-
Active Inventory: 245, an impressive 54% surge, increasing options for buyers.
-
Months Supply of Inventory: 5.7, up from 3.2 months, shifting towards a more buyer-friendly environment.
-
New Listings: 49, an 8.9% increase, providing additional inventory.
-
New Pending Sales: 31, a 16% decline, showing a more selective buying market.
Palm Beach Gardens' real estate market continues to experience market shifts, with more active inventory and adjustments in pricing. Single-family homes saw a boost in sales and pending transactions, while townhouse/condo inventory expanded significantly. Buyers and sellers should keep an eye on inventory growth and pricing trends as we move into the new year.
