February 2025
West Palm Beach Market Update
The West Palm Beach real estate market in February 2025 reflected a mix of rising prices and slowing buyer activity. Both single-family homes and townhouse/condo properties saw inventory growth, offering buyers more options, while new listings and pending sales decreased, hinting at changing market conditions.
West Palm Beach Single-Family Home
The single-family home market in West Palm Beach showed steady price growth but signs of slowing buyer demand. Inventory increased slightly, giving buyers more choices, while fewer new listings and pending sales suggest a more cautious market.
Closed Sales: 69 homes sold, down 2.8% from February 2024.
Median Sales Price: Increased 4.9% year-over-year to $620,000.
Active Inventory: Rose 5.3% to 459 homes, giving buyers more choices.
Months Supply of Inventory: Up to 6.6 months from 6.5 months, reflecting a growing supply.
New Listings: Fell 7.9% to 116, limiting fresh options for buyers.
New Pending Sales: Dropped 21% to 90, signaling slower buyer activity.
West Palm Beach Townhouses and Condos
The townhouse and condo market experienced strong price increases alongside rising inventory. However, new listings and pending sales were down, suggesting buyers are taking a more measured approach as options expand.
Closed Sales: 53 townhouse/condo units sold, up 3.9% from last year.
Median Sales Price: Increased 16% to $412,000, showing strong price growth.
Active Inventory: Jumped 18% to 773 units, expanding choices for buyers.
Months Supply of Inventory: Climbed to 11.9 months from 7.4 months, indicating a market shift favoring buyers.
New Listings: Decreased 13% to 157, reducing new inventory options.
New Pending Sales: Fell 15% to 74, reflecting slower buyer demand.
Overall, West Palm Beach’s housing market in February 2025 saw prices continue to climb for both single-family homes and townhouse/condo properties. Inventory growth is creating more opportunities for buyers, but the decline in new listings and pending sales points to a slowdown in buyer activity as the market adjusts.
