Market Report: North Palm Beach County, January 2025

North Palm Beach County

U.S. existing-home sales advanced for the third straight month, climbing 2.2% to a seasonally adjusted annual rate of 4.24 million units, a 10-month high, according to the National Association of REALTORS® (NAR). Sales were up 9.3% year-over-year, driven largely by purchases of homes priced $500,000 and above. Month-over-month, sales rose in the South, Northeast, and the West but fell in the Midwest, with all four regions reporting year-over-year gains.

New Listings increased 12.2 percent for Single Family homes and 3.4 percent for Townhouse/Condo homes. Pending Sales increased 2.6 percent for Single Family homes but decreased 4.9 percent for Townhouse/Condo homes. Inventory increased 15.6 percent for Single Family homes and 35.3 percent for Townhouse/Condo homes.

Median Sales Price increased 11.5 percent to $750,000 for Single Family homes and 1.3 percent to $343,500 for Townhouse/Condo homes. Days on Market increased 33.3 percent for Single Family homes and 76.5 percent for Townhouse/Condo homes. Months Supply of Inventory increased 22.0 percent for Single Family homes and 57.6 percent for Townhouse/Condo homes.

According to NAR, total housing inventory was 1.15 million units heading into January, a 13.5% decrease from the previous month but a 16.2% increase from the same period one year earlier, for a 3.3-month supply at the current sales pace. Housing supply remains down compared to pre- pandemic levels, and the limited number of homes on the market continues to push sales prices higher nationwide, with the median existing-home price rising 6% year-over-year to $404,400.

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