Palm Beach County Real Estate Market Sees Growth in Sales and Inventory in Early 2025

According to the Miami Association of Realtors, Palm Beach County’s housing market showed resilience in January 2025, with total home and condo sales increasing year-over-year. Residential sales rose by 3.3%, climbing from 1,444 to 1,491 transactions. Single-family home sales saw a 4.81% boost, reaching 850 transactions, while condo sales experienced a modest 1.3% increase to 641 closings.

Rising Home Prices and Strong Cash Sales

Home prices continued their upward trajectory, with the median sale price for single-family homes increasing 5.69% year-over-year to $650,000. Condominiums also saw price growth, with the median price rising 1.54% to $330,000.

West Palm Beach led the nation in all-cash sales, reinforcing the market’s resilience against higher mortgage rates. “West Palm Beach leads the nation in all-cash sales, illustrating how our market remains somewhat insulated from elevated mortgage rates,” said 2025 JTHS-MIAMI President Ginenne Boehm.

Expanding Inventory and Market Conditions

Total active listings surged 32.5% year-over-year, with inventory rising from 10,685 to 14,159 properties. Single-family home listings grew by 25.22%, reaching 6,136, while condo inventory spiked 38.69% to 8,023 listings.

Market conditions diverged between property types. The months’ supply of inventory for single-family homes stood at 5.5 months, favoring sellers, while the condo market tilted toward buyers with a 9.7-month supply.

Surging Sales Volume and Minimal Distressed Transactions

The total sales dollar volume jumped 25.45% year-over-year to $1.6 billion in January 2025. Single-family home sales accounted for $1.2 billion, a 26.74% increase, while condo sales volume climbed 22.01% to $407 million.

Distressed sales remained a small fraction of transactions, making up just 1.2% of total sales. This included 0.2% short sales and 1% REO (bank-owned) properties, well below the national distressed sales rate of 3%.

Time on Market and Strong Seller Returns

Single-family homes sold at a median of 94% of their original list price, while condos secured 91% of the asking price. The median time from listing to contract for single-family homes was 42 days, up slightly from 38 days, while the total time to sale averaged 83 days. Condo sales took longer, with a median contract time of 62 days, up from 35, and an overall sale timeline of 100 days.

Dominance of Cash Transactions

Cash sales played a significant role in Palm Beach County, representing 56.2% of all closed transactions in January 2025—nearly double the national average of 29%. Cash buyers dominated the condo market, accounting for 67% of all condo sales, while 48% of single-family homes were purchased with cash.

With rising sales, increasing inventory, and strong demand—especially from cash buyers—Palm Beach County’s real estate market remains a dynamic force in South Florida’s housing sector.