Palm Beach County Condo & Townhome Market: Is a Crash Coming?
So, you’ve probably seen the headlines.
Florida’s condo and townhome market is in free fall. The Palm Beach County condo market is crashing. But if you’re thinking about buying or selling a condo or townhome in Palm Beach County, then you need to understand what’s actually happening in the real estate market.
In this month’s Palm Beach County condo and townhome real estate market update, we’re going to look at all the important data — including how many condos and townhomes sold last month, how many days it took to sell, how many months of supply there is, and a handful of other key statistics.
So, if you’re a buyer looking for the right opportunity, or a seller wondering if you’ve missed the boat, stick around and watch the video. Sure, I could ask you to like and subscribe, but honestly, I’d much rather you just pick up the phone and call me. My phone number is 786-443-7203. If I don’t answer, it’s probably because I think you’re a spam caller — so leave a message and I’ll get right back to you. You can text or email me as well — all my contact information is below.
Palm Beach County Condo & Townhome Update
Median Pricing: What the Headlines Aren’t Telling You
Median sold price — I always tell people not to pay too much attention to this. Palm Beach County has a wide range of price points, so this particular statistic isn’t always reflective of what’s really going on. That said, if we look at the trend, pricing has been basically level for the last three years.
Meanwhile, the papers keep screaming about Florida being in free fall. Prices crashing. Doom and gloom everywhere. The reality? We’re down slightly, but the trend is mild. The sky is not falling.
Total Number of Sales: Is This a Cause for Concern?
Total number of sales is down — and yes, that looks concerning at first glance. But this happens every year. January is always the low point. You can see the seasonal cycle: we bottom out in January, rebound, and then start to slide again at roughly the same time every year.
If you’re a seller, you need to know that January–April is historically the best time to sell condos and townhomes. That means you want to list in November or December so buyers planning their January trips actually see your property. Many of them start looking in November and December and have already narrowed down their options before they arrive in Florida.
So yes, total sales are trending down — and ideally we don’t want to drop below our seasonal lows — but even if this ends up being a down year, it’s nowhere near the “blood in the water” narrative you keep hearing.
Sales to List Price Ratio
This tells you what percentage of the original listing price sellers achieved. Right now, homes are selling at about 95% of list price.
Buyers: Don’t expect to throw out offers at 80% of list price and get anywhere.
Sellers: Don’t be rigid. If a buyer comes in 7–8% under asking, you need to negotiate. Refusing to engage will often push buyers away completely — and I’m seeing that more often lately.
Median Days on Market: Why Buyer Urgency Is Low
Median days on market is now 72 days. That means a property listed in mid-June is probably still on the market today. Buyers are in no rush. Sellers, remember that this stat only measures active-to-pending — you still need to add an additional 30–45 days to account for closing.
Median Price Per Square Foot: The Key to Selling Fast
Price-per-square-foot is down slightly. The key takeaway here is that properties in good condition are selling. Outdated or poorly maintained units are being ignored. Sellers may need to invest in upgrades — not to increase value, but just to get the unit sold. You either need to be the best price or best condition in your bracket.
Total Dollar Volume
Ignore the drastic-looking decline — it’s a misleading stat in our market. Just the top five sales made up almost 10% of the total volume last month. One or two high-end transactions can swing this chart dramatically, so it isn’t a reliable indicator of overall market health.
Before we move on — if you’re thinking about buying or selling in Palm Beach County, call me at 786-443-7203. I love talking real estate. If I don’t recognize your number, I probably won’t answer — so leave a voicemail or send me a quick text or email. All my contact info is in the description.
Total Months of Supply: The Most Important Statistic
If there’s one stat I pay the most attention to, it’s months of supply — this tells us where the market is headed.
A lot of people are panicking because supply is currently up over 12% year-over-year. But look at the direction of the line: it’s curling down. That means the door is starting to close for buyers. Fewer listings = fewer choices = less negotiating leverage.
Most condo and townhome owners still have plenty of equity and aren’t distressed. Many pulled their homes off the market after not getting the price they wanted. That’s reducing supply — and that’s bad news for buyers. Right now, you still have a window of opportunity to negotiate a good deal — but that window is starting to close.
Six months of supply is considered a balanced market. Personally, I’d rather be representing a buyer than listing a condo for a seller right now — but that could change quickly if supply keeps dropping.
Also remember, this needs to be evaluated building-by-building and town-by-town. If historically there are 8–9 listings in your complex and right now there are only 2, you should be listing now. If there are usually 5–6 listings and today there are 20, it’s probably not the right time.
Use these statistics as a general guide, but make your final decisions based on your specific property and neighborhood. That’s why I focus so heavily on statistics and negotiation — not cookies or balloons.
Thanks for watching. Yesterday was the first day of school in Palm Beach County, so the house is quiet and I finally got this video filmed. We’ll see you next month. Take care.
