November 2024
West Palm Beach Market Stats
In November 2024, the real estate market in West Palm Beach displayed varying trends across single-family homes and townhouse/condo segments. With pricing, inventory, and sales activity showing diverse movements, let's take a closer look at the market dynamics shaping this vibrant area.
West Palm Beach Single-Family Home
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Closed Sales: 47 (↓ 9.6% year-over-year)
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Median Sales Price: $625,000 (↑ 19% year-over-year)
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Active Inventory: 464 homes (↑ 6.9% year-over-year)
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Months of Supply: 6.8 months (↑ 6.3% year-over-year)
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New Listings: 114 (↓ 3.4% year-over-year)
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New Pending Sales: 52 (↓ 3.7% year-over-year)
The single-family home market shows a strong uptick in median sales price, underscoring sustained buyer interest even as inventory gradually expands. However, fewer closed and pending sales signal a shift in buyer activity as supply grows.
West Palm Beach Townhouses and Condos
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Closed Sales: 45 (↓ 26% year-over-year)
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Median Sales Price: $340,000 (↑ 11% year-over-year)
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Active Inventory: 716 properties (↑ 45% year-over-year)
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Months of Supply: 10.7 months (up from 5.5 months year-over-year)
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New Listings: 167 (↑ 36% year-over-year)
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New Pending Sales: 48 (↓ 28% year-over-year)
The townhouse/condo market reflects a striking rise in active inventory and months of supply, creating opportunities for buyers to explore a broader selection. Despite the increased inventory, median prices continue to climb, affirming the market's value stability.
