PALM BEACH COUNTY FLORIDA’S PLAYGROUND FOR THE WEALTHY
Palm Beach County stayed flat with luxury single-family sales and posted modest year-over-year gains in high-end condo transactions. The county’s 777 $1 million-and-up single-family sales matched its output from the third quarter of 2023. The single-family price per square foot increased 4% year-over- year to $684. Luxury condo sales increased 3.8% year-over-year to 193, with the price per square foot falling 16.6% to $880. The county’s biggest year-over-year gainers in luxury single-family sales include Palm Beach Island (80%), West Palm Beach (67.4%) and Juno Beach (20%). Singer Island experienced a whopping 231.3% year-over-year uptick in high-end condo transactions, while the 25% year-over-year jump in Boca Raton/Delray Beach was the main driver for the countywide increase.
Single Family Homes
% CHANGE (1 YEAR)
% CHANGE (1 QUARTER)
SINGLE FAMILY HOMES
2023 Q3
2024 Q2
2024 Q3
Number of Sales
777
1144
777
▲0.0%
▼32.1%
Average Sales Price
$2,449,383
$2,875,259
$2,581,915
▲5.4%
▼10.2%
Median Sales Price
$1,595,000
$1,700,000
$1,625,000
▲1.9%
▼4.4%
Average Square Footage
3,558
3,598
3,584
▲0.7%
▼0.4%
Price Per Square Foot
$657
$732
$684
▲4.0%
▼6.5%
Average DOM
74
91
84
▲14.2%
▼7.2%
Sales Sold at Original List Price
94
97
58
▼38.3%
▼40.2%
Top Sale Price
$50,000,000
$51,250,000
$42,500,000
▼15.0%
▼17.1%
Total Sale Volume
$1,903,170,886
$3,289,296,452 $2,006,147,718 ▲5.4%
▼39.0%
Condos & Townhomes
% CHANGE (1 YEAR)
% CHANGE (1 QUARTER)
CONDOS/TOWNHOMES
2023 Q3
2024 Q2
2024 Q3
Number of Sales
186
334
193
▲3.8%
▼42.2%
Average Sales Price
$2,404,835
$2,391,921
$1,973,088
▼18.0%
▼17.5%
Median Sales Price
$1,806,500
$1,675,000
$1,550,000
▼14.2%
▼7.5%
Average Square Footage
2,321
2,368
2,229
▼4.0%
▼5.9%
Price Per Square Foot
$1,055
$968
$880
▼16.6%
▼9.1%
Average DOM
93
82
85
▼9.5%
▲3.5%
Sales Sold at Original List Price
50
32
44
▼12.0%
▲37.5%
Top Sale Price
$16,000,000
$27,988,425
$9,400,000
▼41.3%
▼66.4%
Total Sale Volume
$447,299,240
$798,901,626
$380,806,066 ▼14.9%
▼52.3%
LUXURY REPORT
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