"The Palm Beach real estate market continues demonstrating strong growth and resilience. In the First Quarter of 2025, we witnessed renewed strength in the single-family home market, with a 68% year over year surge in sales and a median price increase of 11%. Condo/co-op sales also achieved new pricing highs this quarter, underscoring the ongoing demand for ultra-luxury properties.
Additionally, the Palm Beach adjacent markets continued to evolve this quarter, with the expanded inventory offering buyers a wealth of options. Single-family listings rose 9% year over year, led by a notable 43% surge in the North End. Condo/co-op inventory also saw impressive growth, increasing by 30% annually, ensuring ample opportunities for buyers interested in this highly sought-after market.” – Pamela Liebman, Corcoran’s President & CEO
Here’s what happened during the Coastal Palm Beaches & Barrier Island’s first quarter of 2025:
- In First Quarter 2025, Palm Beach experienced a strong start to the year, with most metrics seeing annual gains for both product types, except for condo/co-op sales, which were down 10% annually. Median and average price for condo/co-ops reached new highs this quarter, surpassing the previous records set in 2Q 2023, due to the highest market share of closings over $5M on record.
- Inventory continues to rise in the Town of Palm Beach, with both property types displaying YOY gains. Single-family inventory rose 9% YOY to 105, with the North End experiencing the largest annual increase of 43%.
- Sales declined across most Palm Beach submarkets during the First Quarter of 2025, with single-family homes and condo/co-ops experiencing reduced activity. However, amidst these changes, townhouses achieved a record 68% median price increase to $1.2M, driven by more ultra-luxury sales. Condo/co-op sales in the Jupiter Island to Singer Island area saw a 17% jump in average price year-over-year, reaching $1.1M, due to a tripling of closings over $4M. Inventory grew substantially across property types, with single-family homes and townhouses showing notable annual gains, offering buyers more opportunities to make this slice of Paradise their home.
