Palm Beach Latest Market Report

If you’re a homeowner wondering whether to list your property now or hold off until fall, you're not alone. In today’s fast-changing real estate climate, especially in places like South Florida, timing can play a big role in how much you make — and how fast you sell. Let’s break down the pros and cons of selling in the summer vs. waiting until fall in 2025. 🌞 Selling This Summer: The Pros 1. Peak Buyer Activity Summer is traditionally one of the hottest seasons for homebuyers. Families often time their move around school calendars, and with lighter work schedules, buyers are more likely to attend showings. 🏡 According to the National Association of Realtors (NAR), homes listed in May and June sell faster and for more money than in any other months of the year. 2. Longer Days = More Showings Extended daylight hours give your listing more exposure — literally. Better lighting means your home looks more inviting in photos and during in-person tours. 3. Curb Appeal at Its Peak Your home looks its best during the summer. Lush landscaping, blooming flowers, and blue skies naturally boost curb appeal and help buyers envision themselves living there. 4. Less Competition (in Some Markets) While summer is busy, some sellers still wait until fall — meaning you could face less competition in certain neighborhoods. 🍂 Waiting Until Fall: The Pros 1. More Serious Buyers Fall buyers tend to be motivated. Whether it’s job relocation, downsizing, or investment opportunities, these shoppers usually aren’t just browsing — they’re ready to move. 2. Potential Interest Rate Drops Economists expect mortgage rates to ease slightly by late 2025 as inflation stabilizes. If that happens, more buyers may re-enter the market, giving your listing more traction. 3. Back-to-School = Less Buyer Distraction By the time September rolls around, vacations are over, and school has started. Buyers may be more focused and ready to make quick decisions.

As of mid-2025, Southeast Florida's housing market is experiencing a complex landscape influenced by elevated mortgage rates, shifting buyer demand, and evolving inventory dynamics. Here's an overview of the current trends and projections: AP News , Counselors of Realtors , Kiplinger , Miami Realtors , WSJ , Miami Realtors 📈 Market Forecast: 2024–2025 Home Prices : The Miami Association of Realtors projects that home sales prices will increase by 6.9% in 2024 and 6.5% in 2025. The median single-family sales price is expected to accelerate to 9.7%, while the condominium/townhome median sales price is anticipated to rise modestly by 2.5% due to potential higher fees and assessments affecting demand for this property type. MIAMI REALTORS® Sales Volume : Existing home sales are likely to decline by 5.5% in 2024. However, falling mortgage rates, rising job growth, and improving affordability conditions are expected to expand home sales by 4.0% in 2025. MIAMI REALTORS® Mortgage Rates : Projections indicate that the 30-year fixed mortgage rate will decline to 6.6% by the end of 2024 and 5.7% by the end of 2025, as the Federal Reserve is poised to cut rates multiple times. MIAMI REALTORS® MIAMI REALTORS® 🏠 Market Conditions by Property Type Single-Family Homes : The single-family homes market remains a seller’s market, with a 4-month supply across all counties as of May 2024. MIAMI REALTORS® Condominiums/Townhomes : The condominium/townhomes market is experiencing balanced demand-supply conditions, with active inventory equivalent to over a 6-month supply. MIAMI REALTORS® MIAMI REALTORS® 🔍 Key Market Dynamics Affordability Challenges : As of December 2024, only 17% of renter households in Southeast Florida could afford a mortgage, down from 41% in 2019. MIAMI REALTORS® , MIAMI REALTORS® , Counselors of Realtors Luxury Market Growth : Homes priced at $1 million or over are gaining market share. Year-to-date through May 2024, the share of million-dollar single-family homes has sharply increased compared to 2019 in Miami-Dade (23% vs. 7%), Broward County (18% vs. 5%), Palm Beach (25% vs. 5%), Martin County (21% vs. 8%), and St. Lucie (2% vs. 0.3%). MIAMI REALTORS®

Feeling like your home is stuck in a time warp, but not ready to blow your budget on a designer? You're not alone. Most people think redecorating means gutting a room or buying all new stuff. But here’s a secret: you probably already have everything you need —it may just take fresh eyes to imagine new possibilities.

If you're a seasonal buyer or snowbird considering a vacation home in South Florida, May 2025 presents a strategic opportunity. Here's why acting now can benefit you:

🏡 St. Lucie County Market Insight The St. Lucie County real estate market shows signs of shifting toward a more balanced—if not buyer-leaning—environment. Both the single-family and condo/townhouse segments are feeling the impact of longer days on market and increased inventory. 🏠 Single-Family Homes Sales slowed slightly with closed sales down 2.6% year-over-year. However, pricing remained stable: Median sale price: $392,000 (+0.50%) Average sale price: $449,454 (+2.50%) Dollar volume dropped to $520 million** (–10.40%) Homes are taking significantly longer to sell, with median time to contract rising 46% and time to sale jumping 23%. Meanwhile, inventory rose 41.3%, bringing the months supply to 6.3—a 50% increase, signaling more choices and leverage for buyers. 🏢 Condos & Townhomes The condo market experienced a sharper decline, with: Closed sales down 15.5% Cash deals down 20.7% Median price down to $310,000 (–3.00%) Dollar volume dropped 15.8% Days on market are significantly longer, with median time to contract up 32% and median time to sale up 30%. Inventory surged 31–53%, boosting months supply to 11.7 months, indicating a strong buyer’s market. 🧭 What This Means for You Buyers: Expect more room to negotiate with rising inventory and more days on market—especially for condos. Sellers: Be strategic—homes are selling, but they’re taking longer. Accurate pricing and staging are more important than ever. Investors: Condo prices have dipped, and inventory is high—this could be your moment to buy low. 📬 Need help timing your next move in St. Lucie? Let’s connect today.

Martin County Real Estate Market Insights As of the latest market update, Martin County continues to experience a notable market shift — with cooling buyer activity, rising inventory, and longer days on market, especially in the condo/townhouse segment. 🏠 Single-Family Homes The single-family market saw a modest decline in sales activity with closed sales down 3.5% year-over-year. However, values remained strong: Median sale price increased to $595,500 (+7.10%) Average sale price surged to $1,165,175 (+26.50%) Dollar volume climbed to $510.5 million, a 22% increase Despite fewer cash buyers (-3.5%), seller confidence stayed high, with a slight drop in the median percentage of list price received to 93.5%. Inventory grew by 45.4%, giving buyers more negotiating power. The month supply of inventory now sits at 6.2 months, up 47.6%, indicating a shift toward a more balanced market. 🏢 Condos & Townhomes The condo/townhouse segment experienced a sharper slowdown: Closed sales fell 16.1%, and cash deals dropped 8.9% Median sale price declined to $265,000 (–9.40%) Dollar volume fell by 21.7% Homes are sitting on the market longer, with median time to contract rising 81% and time to sale extending 28%. Inventory jumped 50.8%, while pending inventory fell 17.9%, making this a clearly buyer-friendly environment. 🧭 What This Means for You Buyers: You now have more leverage and a broader selection, particularly in the condo market. Sellers: Be prepared for more competition and longer market times—pricing right from the start is key. Investors: Watch the condo segment—lower prices and longer days on market could create opportunity. 📬 Need help navigating this market? Let’s talk strategy today. 

In South Florida, timing your move in the real estate market can make a major difference—and May is often when the clock starts ticking. While many associate the "hot market" with summer, seasoned real estate professionals know the summer surge actually begins in May. Here's why acting early can give both buyers and sellers the upper hand.

If you're considering purchasing a home in South Florida, May 2025 presents a strategic opportunity . Acting now can offer several advantages before the summer market dynamics take hold.

If you're considering selling your home, May 2025 presents an opportune time to list. Despite recent shifts in the housing market, May continues to offer several advantages for sellers. Here are five compelling reasons why: