Palm Beach County Market Report

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Palm Beach County Market Report: The Sky Isn’t Falling—But Strategy Matters

Let’s set the record straight: despite what you may be hearing from national headlines or well-meaning friends outside of Florida, the real estate market here is not falling apart. Is it slower than we’re used to? Yes. But let’s not forget—this is Florida, and summer is our off-season. Real estate here has always been seasonal.

That said, we are in a market that requires patience, preparation, and a more strategic approach. Inventory is up, homes are taking longer to sell, and as a result, we’re seeing longer listing agreements. Unless you’re planning to give your home away, you’re competing with many others—and that means sellers need to bring their A-game. Pricing, presentation, and professional marketing have never been more important. And agents? This is not the time to pull back—this is the time to step up. Spend more, do more, communicate more.

Key Takeaways from the Latest Data:

  • Average Sale Price Is Up: While the median price has dipped slightly, the increase in average sales suggests more luxury properties are closing—a positive sign for the upper end of the market.
  • Interest Rates Continue to Slow Buyer Activity: Not a surprise, but something to watch.
  • Cash Sales Are Down: Unexpected in a higher interest rate environment and worth keeping an eye on.
  • New Listings in Palm Beach County Are Down Overall: However, in the areas where we actively sell, we’re seeing more homes hit the market. Our phones are ringing, and we’re bringing new listings live—both encouraging signs.
  • Months of Inventory:
    • Under $600K: Relatively flat
    • $600K–$1M: Slight increase
    • Over $1M: Inventory has decreased, which is great news for the luxury segment

We remain a high-demand market. Between relocations, second-home buyers, and long-term investors, South Florida continues to attract interest. But while buyers may now have more choices, sellers must meet the moment with strong pricing, polished presentation, and a strategic marketing plan.

And agents—if you’re cutting back in a slower market, you’re missing the point. These are the markets that define us. This is the time to go all in.