Palm Beach County Condo Market: Is the Crash Here?
Palm Beach County Real Estate Market Update – July 2025 (Condos & Townhomes)
Palm Beach County Condo Market Update July 2025
Palm Beach County Condo Market Update | Prices & Inventory Report
The headlines are screaming about a real estate crash, but what's really happening in the Palm Beach County condo and townhome market? Is the sky falling, or is the truth a lot more interesting?
My name is Casey Prindle, and for over 15 years, I've been helping buyers and sellers navigate the South Florida and Palm Beach County real estate market. In this video, we're going to dive into the latest numbers for condos and townhomes, looking at everything from median price and sales trends to days on market and inventory levels. We'll cut through the noise and show you what the data is really saying, whether you're trying to buy a condo in Jupiter, FL, or sell a townhome in Palm Beach Gardens. Whether your timeline is 2 weeks or 12 months, the earlier we talk, the better I can help you plan and win in this market.
The median price of condo’s and townhomes in Palm Beach County is now $315,000.
$320,000 down year over year from $315,000. Not the doom and gloom we were supposed to be seeing right? For 2 and a half years median prices have bounced between $300 and $350,000. Median pricing is not my favorite stat to follow. I don’t think it provides a ton of value to someone Buying or Selling a property in Palm Beach County because of the massive pricing differences we have here. Here’s what to take from this chart. Over the last 5 years values have risen, but they’ve been relatively stagnant the last couple of years.
Total number of condo’s and townhouses sold in Palm Beach County:
Year over year sales are down from 1,040 sales down to 921 sales. Match that up with the chart turning down and you’d think the sky just might fall. But wait. I touched on this in the single family home video, and I’ll talk about it in this one, let’s look at seasonality. March and April sales tend to peak for the year before heading back down. In fact if we head down until January that’s normal. Now, I will say the trendline here on the chart is down and that’s concerning. Look back 5 years to June of 2020 pre pandemic, there were 1,100 sales. Here’s why I bring this up, is the condo market incredibly challenging right now? Absolutely and anyone who tells you otherwise is either naïve or full of it. I’ve been in this business for over 15 years now and I can tell you, this is the most challenging market I’ve never worked in. But, if you read the papers you would be led to believe that we should be down 50% or more in total sales, we’re not. Let me be clear, some condos are a lot harder to sell than others right now, a lot of it has to do with current assessments, engineering reports and if they’ve been done, and current condo fees.
If you’re looking at buying or selling real estate in Northern Palm Beach County go ahead call me at (786)443-7203. Don’t be shy and don’t wait! Whether you’re looking to make a move next week or next year, the sooner we speak the easier it is for me to provide value to you.
List to sales price:
For those of you knew to this analysis, list to sales price is the percentage of original listing price properties are selling for. A higher number favors sellers, a lower number favors Buyers as it shows more room for negotiation and price reductions are happening. Now this is going to be alarming for Sellers. The trajectory of this chart is down. Sellers are having to offer more concessions in order to get deals. I’m going to be blunt, aspirational pricing on a condo or a townhome right now is a horrible idea. You need to price just below the market honestly. I know Sellers don’t want to hear this, but it’s the truth. I’m not saying price 50% below the market, I’m just telling you, if you’re the highest priced property in the building or development, you’re probably not going to sell.
If you’re looking to purchase a home in Northern Palm Beach County, please do one of the following. Give me a call (786)443-7203 and tell me where you are in your home search and what you’re looking for. Or if you’re too shy to call, you can text or email me. Don’t hide behind the computer, contact me!
Days on market:
The days of market are going to be the number of days a home is actively listed before going to pending sale. This is not how long it takes to close, just to go from active to pending. Again Sellers aren’t going to like this. 67 days on market last month up from 49 days on market June of 2024. We’re at the top of the chart here and I’m not seeing a reason this will pull down, especially when you view through the lens of seasonality. Buyers are not feeling any pressure to make a decision in this market. It’s likely a condo or townhouse they saw 2 months ago is still on the market today. There’s no sense of urgency I can create if I’m representing a Seller when this is the case. Buyers have the upper hand in this market, and this is just one more point of data that shows you that. But again, sky isn’t falling. Just harder to sell than it’s been the last few years.
Median price per square foot:
Median price per square foot of Palm Beach County condo and Townhome sales coming in at $237 psf. June of 2024 was at $250 psf. I always say don’t put a lot of stock in median psf numbers. I just don’t think they’re that good of a stat to watch in Palm Beach County. Again we have to wide an array of price points in Palm Beach County to make this a meaningful stat in my opinion.
Total dollar volume of Jupiter Home Sales:
This is going to be a prime example as to why I focus on some statistics more than others. While I really value the total number of home sales, I don’t really value total dollar volume. Palm Beach County has a number of pricey properties that can throw volume way out of whack. This month is a great example of that. The total volume of sales was $446,407,000. The top 25 condo and townhome sales accounted for $97,343,000. That’s 22% of the total volume that came from 25 sales. Remember we had 921 total sales! Because we live in an expensive marketplace and we have these wide swings it makes this chart unreliable in my opinion.
If you’re thinking about selling a home in a week or a year from now, please give me a call. I can’t help you out if I don’t know you exist. My phone number is (786)443-7203. The sooner we start talking the easier it is for me to help you position the sale of your home, or the purchase of a new one. So let’s go, pick up the phone, or at least email me caseyprindle@gmail.com.
Months of inventory
I saved the best for last months of supply, my favorite market stat, and the one I want you to pay the most attention to. What does this chart mean? Months of supply is going to assume that if sales remained constant, this is the number of months it would take to sell all of the active inventory. Low supply is good for Sellers, high supply good for Buyers. The more supply the more choices Buyers have. Up over 22% the last 12 months. Not good for Sellers here. But wait, and I keep pointing this out, this chart is curling down. How in the world can this be happening because I keep hearing the Florida market is a blood bath. Here’s why, a lot of Sellers, sitting on a ton if equity, have tried to sell, but don’t HAVE to sell. We don’t have the distressed debt that we had during the housing crash. We simply have a lot of Sellers who are saying, I tried, I don’t like the offers I’m getting, I’ll just hold until the market is stronger. That’s going to buoy prices because Buyers have fewer on market choices! This has been fascinating to watch. My viewers are always ahead of the curve, don’t be surprised in 60 days when others start talking about this!
The easiest way to find me is just to call me. My cell number is 786-443-7203. Don’t be shy. Don’t just lurk on my videos, give me a call, let’s chat. I sincerely appreciate each and every one of you that watches these videos. So come on, let’s talk, or have a coffee or a cocktail.
