South Florida Housing Market Update Video
Palm Beach County, Florida December 19, 2024 Update with November, 2024 Stats
Video by BeachesMLS and Realtors Association of the Palm Beaches
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Real Estate Market Reports Southeast Florida 2025
Palm Beach County, Florida Reports for December 2024
Scroll down to view several different images, information, reports, and video.
Current Palm Beach County Trends
In the December 2024 report, the Palm Beach County real estate market showed mixed trends for single-family homes and townhouses/condos. Overall, the market for single-family homes saw price increases, but a decline in sales volume. The townhouse/condo market experienced significant drops in sales and prices, with an increase in inventory.
Beaches MLS Real Estate Market Snapshot Report
How these reports are made: Statistics are compiled by Realtors Association of the Palm Beaches using the BeachesMLS from the FULL previous month of properties. The sold data was released December 19, 2024.
Summary of Single Family Homes Report
The changing seasons in south Florida is bringing unusual seasonal opportunities for buyers due to falling mortgage rates and increased inventory. In Palm Beach County, the months supply of inventory currently sits at 5.3 months, a 35.9% increase from this time last year with 5,828 active listings.
Palm Beach County closed 841 sales in November, with the median time to contract being 37 days as buyers sift through options. More listings are hitting the market each month. The median sale price stayed fairly consistent with this time last year at $600,000.
Palm Beach County, FL Single Family Homes Report
Released December 19, 2024
Palm Beach County, FL Condo Townhouses Report
Released December 19, 2024
Has your home’s current value increased?
Freddie Mac Mortgage Rates
April 1, 1971 to December 19, 2024
Chart is based on a 30Y FRM = 30 Year Fixed Rate Mortgage
Lowest Mortgage Rate was 2.65% on Jan 6, 2021
Highest Mortgage Rate was18.63% on October 8, 1981
Mortgage Rate average was 6.93% on January 10, 2025.
To view the latest update on mortgage rates and to see the 30 year chart, go to:
Freddie Mac Primary Mortgage Market Rates.
How’s the Real Estate Market in My Community?
Graphics below give a quick visual and answer the question of “How’s the Market?” by comparing the rate of sales versus inventory. The examples are for Palm Beach Gardens over a 20 month time period… gradually going from a very strong point of the seller’s market in June 22, 2022 (highest point in the last 2-1/2 years for Palm Beach Gardens) to a very slight buyer’s market on January 10, 2025, down 2 points since December 20, 2024.
Housing Market Action Index for Palm Beach Gardens
Slight Buyer’s Market January 10, 2025 Palm Beach Gardens, FL
This week the median list price for Palm Beach Gardens, FL is $1,199,000 with the market action index hovering around 28. This is less than last month’s market action index of 29. Inventory has increased to 349 listings.
Inventory and sales are the key indicators! The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone.
Watch for a persistent up-turn in Market Action to signal prices rising again. Get the Housing Market Action Index for your city or zip code below.
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