Coastal Palm Beaches & Barrier Islands Market Report: 1Q 2026
“Momentum was clearly building across the Coastal Palm Beaches and Barrier Islands in the first quarter, with sales increasing across much of the region and continued strength at the high end. Luxury activity played a central role, from Palm Beach – where $20M plus and $50M plus sales jumped – to other coastal submarkets where higher priced closings increasingly shaped results for both single family homes and condos.
Buyers showed a willingness to move quickly for high quality, well priced properties, particularly along the water. With inventory tightening across most submarkets, the foundation remains in place for steady pricing and sustained demand as the year progresses.”
– Pamela Liebman, Corcoran’s President & CEO
Sales were up across Palm Beach, with both single-family homes and condo/co-ops experiencing double-digit gains in the first quarter of 2026.
- Condo/co-op sales hit a five-year first quarter high of 99 sales, an increase of 43% over last year.
- As there was a surge of luxury closings above $5M this quarter, median price for condos rose 13% annually, while average price remained flat compared to last year.
- Single-family home price was also affected by the luxury market; with sales over $20M doubling and sales over $50M tripling, average price rose 18% annually.
Inventory continues to diverge across product types in the Town of Palm Beach.
- First Quarter 2026 is the fifth consecutive quarter with an annual gain in single-family active listings as there were 111 available homes at the end of March, an increase of 6%.
- Conversely, inventory for condos/co-ops dropped 19% year-over-year marking First Quarter 2026 as the third quarter of consecutive decline.
First Quarter 2026 activity across the Coastal Palm Beaches & Barrier Islands points to a market gaining momentum, with sales increasing across much of the region and continued strength in the luxury segment. Single-family home pricing climbed year over year, fueled by increased high-end activity, while condo and co-op pricing strengthened in most areas as the share of higher-priced closings expanded. As inventory continued to tighten across nearly all areas, market conditions appear increasingly supportive of long-term price stability and healthy future growth.
In the area from Jupiter Island to Singer Island, single-family home sales increased 19% annually while condo/co-sales declined 6% year-over-year.
- Single-family median price increased 34% annually to $1.8M, but average price declined 28% year-over-year to $1.2M, due to fewer ultra-luxury sales versus a year ago.
- Condo/co-op pricing metrics posted year-over-year gains as there was a 15% gain in the market share of closings above $1M compared to a year ago.
- Inventory declined across both product types, marking the first annual decline following nine consecutive quarters of growth.
West Palm Beach to Lake Worth experienced an increase in sales for both product types for the third consecutive quarter.
- Single-family price metrics ballooned year-over-year, with median price climbing 20% and average price up 49% due to a strong luxury market this quarter.
- Because of a decline in sales over $2M, average price for condos.co-ops declined 18% annually, while median price remained flat compared to last year.
- Despite double-digit annual declines in listed inventory for both single-family homes and condos/co-ops, the number of active listings for both product types has been 250+ for the past two and a half years.
From Hypoluxo Island to Highland Beach, product types posted annual gains in closed sales, with single-family home closings surging 86% and condo/co-op closings up 18%.
- Due to increased deal activity over $5M and two ultra-luxury waterfront sales this quarter, pricing metrics increased year-over-year; median price increased 18% and average price increased 9%.
- With a doubling in the number of sales over $5M this quarter, average price for condos/co-ops increased 8% annually, however, median price dipped 10% year-over-year.
- As of the end of the quarter, listed inventory dropped annually for both product types: condo/co-op active inventory declined 24% to 210 listings, and single-family home inventory fell 14% to 77 listings.
In Delray Beach, single-family home sales increased 15% year-over-year, while condo/co-op sales declined 23% annually.
- Single-family pricing metrics skyrocketed year-over-year, with average price up 30% and median price up 47%, due to closings over $5M tripling versus First Quarter 2025.
- Condo/co-op pricing metrics also increased annually, with median price up 1%, and average price up 11% as there was a 10% drop in the share of listings closing under $1M, and a 10% increase in share of sales over $1M, compared to last year.
- Inventory fell for both product types this quarter, with condo/co-op listings down 5% to 78 listings and single-family homes down 21% to 163 listings.
Townhouse sales across all submarkets fell 7% year-over-year.
- Price metrics were down annually for townhouses with median price down 6% and average price down 15%.
- At the end of March, prospective buyers had 143 homes available, down 33% from a year ago.
