Got a confidential news tip? In the latest month’s report of single family homes for October 2020, the median sold price for Palm Beach Gardens, FL was $605,000  which was up 14.7% from the same month in 2019. There is now less than a five-month supply. While prices often dip a bit in the winter months, continued buyer demand may temper any price retreats this year. Newly released market reports from Florida Realtors® detail recent real estate activity in the Palm Beaches. This Housing Report includes the Number of Sold Homes, Median Sold Price, Average Sold Price, Days on Market, Buyers or Sellers Market Now, plus more. Current as of October 20, 2020. Billionaire Jude Reyes sold his oceanfront mansion for $19 million and pulmonologist Norman Traverse sold his seven-bedroom waterfront estate for $51 million. Members Realtors® Brokers Affiliates Benefits Join Today Transfer Now Community Real Estate News Realtor® Party Commercial Realtors® Global Realtors® Young Professionals Foundations BeachesMLS About Beaches Market … "It may be the hottest real estate market in the world right now," said Jay Phillip Parker, CEO of Douglas Elliman's Florida brokerage. New Listings decreased 8.8 percent for Single Family homes but increased 7.0 percent for Townhouse/Condo homes. Affordability of Living in West Palm Beach, FL. Learn about the Palm Beach Gardens, FL housing market through trends and averages. Median Sales Price increased 19.7 percent to $443,000 for Single Family homes and 28.1 percent to $228,000 for Townhouse/Condo homes. Homes are typically worth $202/sqft. Explore all real estate & homes in North Palm Beach, FL Palm Beach has a median listing price of $1.4M, making it the most expensive city. It’s a great time to list your home with one of our agents as buyers are eager to take advantage of the record low mortgage rates now. The average home price in Palm Beach, Florida, was more than $7 million during the third quarter, according to a report from Douglas Elliman and Miller Samuel. Average home prices in Ft. Lauderdale increased 16%, and they were up 11% in Boca Raton. In this scenario, Florida, which doesn't have an income tax, becomes more attractive. Palm Beach resident Richard Kurtz updated a 1990s house at 680 S. Ocean Blvd. The strength shows little signs of slowing as signed contracts jumped 62% in September, the report said. "It creates a snowball effect.". Whatever effect the president has had on Palm Beach real estate over the past four years, other factors continue to play major roles in spurring sales on the island. Palm Beach County single-family home prices … West Palm Beach, FL Real Estate Trends. Do local business owners recommend Real estate? The average sale price per square foot in Palm Beach County is $188, up 9.3% since last year. Median Sold Prices of Homes Increased This Month. Data is from our Realtors® Association of the Palm Beaches Multiple Listing Service with a report covering the latest month of stats. And then in March, it got the wind knocked out of it by, of all things, a global pandemic. The median sold price for condos in Palm Beach Gardens, FL was $275,000 which was up 10.8%% from the same month in 2019. Inventory remained tight. The inventory of homes for sale on the island fell by 79% in the third quarter compared with a year ago, according to the report. During the last 12 months the real estate prices in Palm Beach, Palm Beach Gardens City increased, looking at the past 12 months. Learn about the West Palm Beach, FL housing market through trends and averages. Stay up-to-date! Median Time to Contract decreased 52.4 percent for Single Family homes and 34.2 percent for Townhouse/Condo homes. So that's always a big plus. Palm Beach Housing Market Information. What are the most popular housing types in Palm Beach, FL? Among the big recent sales in Palm Beach was the $28 million sale of a "teardown" mansion owned by telecom tycoon Donald Burns. This is same detailed report that Realtors® receive each month. Pending Sales decreased 0.6 percent for Single Family homes but increased 23.9 percent for Townhouse/Condo homes. In Miami, luxury home prices surged 42% in the quarter, with the average sale price hitting $2.8 million. On Monday, November 30, 2020, according to Florida Bank Rate’s latest survey of the nation’s largest mortgage lenders, the benchmark 30-year fixed finance rate is 2.93% for West Palm Beach. "And Florida will still have no income tax. Great for discovering comps, sales history, photos, and more. As recently as 2012, the median sales price bottomed out at about $113,000. The flight to low tax states is also a driver. Request Current Local Market … "Whoever wins in November, you're going to have to fix the budget issues on a national and state level," Parker said. Affordability of Living in Palm Beach Gardens, FL. Inventory decreased 38.8 percent for Single Family homes and 8.3 percent for Townhouse/ Condo homes. Months Supply of Inventory decreased 41.3 percent for Single Family homes and 6.4 percent for Townhouse/ Condo homes. Copyright 2020 • Martin Group • Premier Brokers International • Privacy Policy • Accessibility, Market Snapshot Palm Beach County Closed Sales 2020, Quick Summary Graph of Median Sold Prices 2020, Sales Stay Up in October as Inventory Stays Tight, Single Family Homes - Palm Beach County 2020, Condos Townhouses - Palm Beach County 2020, Get the Latest Real Estate Stats for Your City, Request a Detailed Real Estate Market Report for Your Area, Request CMA Comparative Market Analysis of My Home, Just in! Request YOUR City or Zip Code Market Report NOW. Phone: 561-833-0238. This Month’s Median Sold Price is Even Higher Than Last Month. Palm Beach Real Estate Inc. 189 Bradley Place, Palm Beach, FL 33480. All Rights Reserved. Homes are typically worth $281/sqft. With 8,802 people, 4,796 houses or apartments, and a median cost of homes of $1,149,867, Palm Beach house prices are not only among the most expensive in Florida, Palm Beach real estate … Large apartment buildings are the main housing type, representing most dwellings in Palm Beach, but single detached homes are also present … According to Walletinvestor’s Palm Beach Gardens real estate market … Like most cities in the state of Florida, the West Palm Beach real estate market got hit hard by the recession. You can Request a Local Market Update for Any City in Palm Beach County. Data courtesy of BeachesMLS, a subsidiary of Broward, Palm Beaches & St. Lucie Realtors®. There are 506 active homes for sale in Palm Beach, FL, which spend an average of 201 days on the market. Palm Beach County real estate had 9,489 active listings in 3Q 2020, a 17.5% decrease from the 11,501 listings at the same time last year. Prices in Miami, Ft. Lauderdale, Boca Raton and even parts of Tampa increased by a double-digit pace in the quarter. "You just can't find homes to buy there now.". Request Detailed Market Report for My City, Neighborhood or Zip Code, request a Detailed Market Report or Summary Report. The temperatures continue to fall as signed contracts jumped 62 % in the Palm Beach resident Richard Kurtz a. 0.6 percent for Single Family homes but increased 23.9 percent for Townhouse/Condo homes 2020 trend of interest... Florida will still have no income tax, becomes more attractive, keeping housing hot the. Lucie Realtors® got hit hard: Brown Harris Stevens CEO price hitting 2.8... Real estate filters to find the perfect place 22.5 percent for Townhouse/ Condo homes for free newsletters get! Prices in Ft. Lauderdale, Boca Raton News, Stock Quotes, and market and! 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