October 2024
Palm Beach Gardens Market Stats
The Palm Beach Gardens real estate market in October 2024 saw a blend of stability and significant fluctuations across single-family homes and townhouses/condos. Here's an in-depth look at the latest market trends for this vibrant South Florida community.
Palm Beach Gardens Single-Family Homes
In October 2024, single-family homes in Palm Beach Gardens experienced a mixed market:
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Closed Sales: Down 1.6% from last year, with 60 transactions.
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Median Sales Price: Up 17%, reaching $1,070,000.
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Active Inventory: Increased by 9.3%, with 281 homes available.
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Months Supply of Inventory: Remained unchanged at 4.3 months.
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New Listings: Declined 15%, with 83 properties entering the market.
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New Pending Sales: Down 19%, with 47 homes under contract.
These shifts indicate stronger price growth despite reduced activity in new listings and pending sales, reflecting a competitive market for high-value properties.
Palm Beach Gardens Townhouses and Condos
The townhouse/condo market saw significant growth in certain areas:
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Closed Sales: Increased by 33%, totaling 57 transactions.
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Median Sales Price: Rose by 8.4% to $450,000.
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Active Inventory: Skyrocketed 82%, with 255 units available.
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Months Supply of Inventory: Climbed from 3.0 to 5.6 months.
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New Listings: Grew by 9%, with 73 properties listed.
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New Pending Sales: Declined by 24%, with 42 contracts signed.
This data reveals increased inventory and sales, with more choices for buyers and steadier price growth for townhouses and condos.
