Inhabit by Corcoran

“Palm Beach continues to demonstrate its remarkable resilience and appeal, even amid broader market headwinds. In the second quarter of 2025, single-family home sales experienced a notable 32% annual increase, marking the fourth consecutive quarter of growth. Meanwhile, the condo/co-op market reached a new milestone, with median prices rising 37% to a record $1.5 million. These results reflect the enduring demand for luxury living in one of the country’s most coveted zip codes.

Just outside of Palm Beach, increased inventory is providing buyers with more options. At the same time, strong pricing in key locations – from Jupiter Island to Highland Beach – demonstrates the continued demand for South Florida’s premier coastal lifestyle. As we move into the second half of the year, I remain confident in the unique value Palm Beach offers.”

– Pamela Liebman, Corcoran’s President & CEO

Palm Beach Highlights

Palm Beach displayed its enduring strength, with sales improving annually across both product types.

• Sales for single-family homes were up 32% year-over-year, the fourth consecutive quarter of growth.
• Condo/co-op pricing metrics posted strong double-digit annual gains this quarter, in part due to the number of sales over $5M almost doubling this quarter versus a year ago. Median price hit a new record high, up 37% to $1.5M.
• Single-family median metrics were mixed, as average price fell 44% this quarter, due to 2Q 2024’s statistics being skewed by two ultra-high $150M sales.
• Conversely, median price rose 8% to $13.0M this quarter due to an uptick in the number of closings over $10M.

Inventory rose year-over-year across the board.

• Single-family inventory rose 8% YOY to 79 units.
• Condo/co-op ballooned 55% to 256 units, the fourth quarter in a row with an annual increase above 30%.
• Days on market rose for both product types with single-family DOM up 54% to 154 and condo/co-op DOM up 26% to 124.

Outside Palm Beach

Sales trends in the Palm Beach adjacent submarkets during the second quarter of 2025 showed some variation. Condo and co-op prices decreased in West Palm Beach, Lake Worth, and Delray Beach, while the values of single-family homes reached new records in several areas. Despite a decline in closings from the area spanning from Hypoluxo Island to Highland Beach, both property types experienced year-over-year price growth. Additionally, the areas from Jupiter Island to Singer Island saw solid sales gains along with an increase in inventory. With more homes entering the market across the county, buyers are gaining more leverage, and Florida’s coveted coastal market is entering a new chapter of opportunity.

In the area from Jupiter Island to Singer Island, closed sales increased for both property types annually, with condo/co-op sales up 10% and single-family home sales rising 8%.

• Condo/co-op median price fell 12% YOY to $570K and average price declined 9% YOY to $886K due to a drop in the number and market share of sales over $1M versus a year ago.
• Single-family price statistics rose by double-digits this quarter, with median-price rising 23% YOY to a record-high of $2M.
• Inventory continued its upward trend and saw both product types rise by double-digits for the sixth consecutive quarter. As of the end of June, condo/co-op had 439 available listings and there were 115 available single-family homes.

In the area from West Palm Beach to Lake Worth, single-family home sales rose 6% annually and condo/co-op sales declined 8% year-over-year.

• Pricing metrics for condo/co-ops experienced declines this quarter, with average price down 34% YOY and median price down 2% YOY.
• Single-family homes displayed double-digit increases in average and median price, with average price up 23% YOY to $1.5M, a new record high.
• As of the end of the quarter, single-family inventory rose 11% to 329 available listings, while condo/co-op inventory fell 11% annually to 283 available listings.

The area from Hypoluxo Island to Highland Beach both product types displayed double-digit annual declines in closings

• Despite the lower number of single-family home sales, prices climbed annually. Median price was up 9% to $4.5M and average price rose 26% to $8.3M due to a greater share of sales over $10M as compared to last year.
• Condo/co-op pricing metrics also improved annually, with median price up 11% YOY to $845K and average price up a slight 1% YOY to $1.0M.
• At the end of the quarter, condo/co-op listed inventory increased 37% YOY to 277 available homes and single-family inventory rose 3% YOY to 90 available homes.

Delray Beach sales fell across both product types in the second quarter of 2025

• Single-family average price saw a 4% annual decline while median price rose 27% YOY due to a nearly 10% increase in sales over $3M compared to 2Q 2024.
• Condo/co-op pricing metrics declined YOY. Average price was down 13% annually and median price declined 19% annually due to a five-fold drop in sales over $5M as compared to last year.
• Inventory rose annually across both product types for the second consecutive quarter, up 18% YOY for condos/co-ops and 8% for single-family homes.

Townhouse sales across all submarkets increased 2% YOY.

• Despite the modest increase in sales, sales volume surged 33% annually due to double the number of sales over $10M as compared to a year ago.
• Median sale price declined 5% YOY, but average price rose 31% versus 2Q 2024 due to two transactions over $12M on Palm Beach.
• At the end of the quarter, there was a selection of 172 homes available, up 30% from a year ago.

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