How's the market in your area?
Palm Beach, FL
Single-Family Homes
Arthur Martens | https://lifeontheisland.com | 561-621-0000 | arthur@lifeontheisland.com
Palm Beach, FL
Sat May 11 2024
This week the median list price for Palm Beach, FL is $15,758,000 with the market action index hovering around 25. This is about the same as last month's market action index of 25. Inventory has decreased to 77.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Home sales have been exceeding new inventory for several weeks. Since this is a Buyer’s market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller’s zone, and we are likely to see upward pressure on pricing.
Real-Time Market Profile
| Median List Price | $15,758,000 | |
| Median Price of New Listings | $16,450,000 | |
| Per Square Foot | $3,489 | |
| Average Days on Market | 171 | |
| Median Days on Market | 126 | |
| Price Decreased | 44% | |
| Price Increased | 3% | |
| Relisted | 4% | |
| Inventory | 77 | |
| Median Rent | ||
| Market Action | 25 | |
| Slight Buyer's Advantage | ||
The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $33,995,000 | 6,492 | 0.5 - 1 acre | 7 | 7 | 65 | 0 | 1 | 175 |
| $17,495,000 | 4,560 | 0.25 - 0.5 acre | 5 | 5.5 | 22 | 1 | 1 | 98 |
| $12,900,000 | 3,490 | 0.25 - 0.5 acre | 4 | 4.5 | 57 | 0 | 0 | 161 |
| $6,972,500 | 2,631 | 0.25 - 0.5 acre | 4 | 3.5 | 71 | 1 | 0 | 126 |