Palm Beach County Real Estate Update: Year-to-Date Dollar Volume Shows Positive Growth

Overview of Palm Beach County Real Estate Market

Recent statistics reveal that the real estate market in Palm Beach County has seen a significant increase in total dollar volume for 2025 compared to the previous year. This report, compiled by the MIAMI Association of Realtors and the Southeast Florida Multiple Listing Service, indicates a strong demand for properties in the area, driven primarily by buyers relocating from higher-tax states.

Year-to-Date Performance

• Total Dollar Volume: Increased by 1.84% year-over-year, reaching $11.7 billion.
• High-End Sales: There is notable growth in sales of homes priced at $1 million and above, highlighting an ongoing trend of affluent buyers seeking properties in South Florida.

Quote: “Buyers from high-taxed, high-density states continue moving to South Florida, evidenced by the increased dollar volume and luxury home sales,” stated Ginenne Boehm, 2025 JTHS-MIAMI President.

Future Insights: New Construction Reports

On July 28, the MIAMI REALTORS® will release a comprehensive New Construction Data Report that aims to reshape the analysis of international buyer activity in South Florida, particularly focusing on new condominium sales. This data is crucial, as existing reports often overlook new and pre-construction developments.

Economic Impact of Real Estate Sales

• The average economic impact for each home sold in Florida amounts to $129,000.
• In June 2025, Palm Beach County recorded 2,008 home sales, resulting in a local economic impact of approximately $259 million.

Current Market Trends and Price Dynamics

While the year-to-date dollar volume has risen, median prices in Palm Beach County have experienced declines:

Price Changes

• Single-Family Homes: Decreased by 5.2%, from $659,999 to $626,000.
• Condos: Dropped by 3.1%, from $325,000 to $315,000.

Sales Volume Trends

• Total sales saw a decrease of 6%, with single-family home sales down by 6.46%.

Bullet Points:

• Condos priced $250K-$300K: Increased by 2.3%.
• Overall existing condo sales: Declined by 5.41%, with inventory challenges cited as key factors.

Inventory Levels and Market Conditions

As of June 2025, total inventory in Palm Beach County has seen an increase of 19.1% year-over-year. This rise suggests a potential adjustment in buyer dynamics.

Inventory Breakdown

• Single-Family Homes: 6,259 listings, a 21% increase.
• Condos: 7,670 listings, up by 17.6%.

With 5.7 months of supply for single-family homes, the market remains competitive, representing a seller’s market. Conversely, the condo market shows 9.7 months of supply, indicative of a buyer’s market.

Local vs. National Market Comparisons

Palm Beach County’s prices have held more favorably compared to national averages, with home equity gains nearly double the national figure:

• Miami Single-Family Home Equity Gain: $555,900 vs. U.S. average of $306,600.
• Condo Equity Gain: $342,600 vs. U.S. average of $252,000.

Distressed Sales Overview

• Only 0.8% of closed residential sales were distressed in June 2025, underscoring a healthy market compared to the national figure of 3%.

Moving Forward: Looking at Mortgage Rates

Current mortgage rates remain elevated, with the 30-year fixed-rate mortgage averaging 6.75% as of mid-July. This ongoing trend stabilizes the market despite challenges related to inventory and financing.

Potential for Market Recovery

If rates drop to 6%, it could stimulate a surge in first-time homebuyers and encourage existing homeowners to trade up.

Quote: “Once mortgage rates begin to decline, sales are likely to increase,” commented MIAMI REALTORS® Chief Economist Gay Cororaton.

Conclusion: Opportunities in Palm Beach County Real Estate

With a combination of robust dollar volume growth, changes in pricing dynamics, and strategic inventory increases, Palm Beach County remains an attractive destination for homebuyers. For more information on local real estate opportunities, visit MIAMI REALTORS®.