PALM BEACH COUNTY WRAPS UP 2024 WITH RISING INVENTORY
Just in! Year-End 2024 reports have been released detailing recent real estate activity in Palm Beach County. The reports compare year-over-year data. Here are statistics on single-family homes.
In 2024, the median sale price showed growth, increasing by 5.5% compared to 2023. However, the median time to contract saw a significant year-over-year jump, rising 41.9% to 44 days from 31 days in 2023. Meanwhile, Palm Beach County reported steady figures across most metrics, but not inventory, which experienced notable growth. Active listings in Palm Beach County ended the year at 5,637, reflecting a 23.2% increase from 2023. This trend is expected to continue into 2025.
"Palm Beach County ended 2024 with increased inventory, especially when comparing year-over-year. The county has a 5.1 months’ supply of inventory – a 27.5% increase from 2023,” says Jonathan Lickstein, 2025 president of Broward, Palm Beaches & St. Lucie Realtors®. “When inventory increases, it means buyers gain more leverage in the market. They have more options to choose from, which can lead to more competitive pricing and negotiations. That’s why it’s never been more important to work with a local Realtor® who show our greatest value to homebuyers through representation and risk mitigation.”
Contact a local Realtor® today – we serve as your personal resource to the communities where we live, work, and play, providing local expertise on amenities, neighborhoods, and so much more. Learn more on how Realtors® can serve your needs at OnlyARealtor.com.
View Reports: Single Family | Townhomes/Condos
About Broward, Palm Beaches & St. Lucie Realtors®
Broward, Palm Beaches and St. Lucie Realtors® is South Florida’s premier REALTOR association. More than 42,000 members in eight locations are equipped to sell real estate along 130 miles of coastline in South Florida and the Treasure Coast. Broward, Palm Beaches, St. Lucie Realtors® work to enhance its members' ability and opportunity to conduct business professionally, ethically and profitably throughout their career. As the third largest local association in the nation, the association empowers members as leaders and influencers in the industry and community. Broward, Palm Beaches and St. Lucie Realtors® is the local chapter of the National Association of REALTORS® To learn more visit, RWorld.com