Is Royal Palm Beach, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Royal Palm Beach was a Seller's Market.
Housing Prices in Royal Palm Beach, FL
How much do homes in Royal Palm Beach, FL cost?
Median Sold Price
$490,119
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Royal Palm Beach was $490,119 in May 2024, up 6.5% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $118K | $139.5K | +18.2% |
2 Bedrooms | $280K | $273.5K | -2.3% |
3 Bedrooms | $455K | $480K | +5.5% |
4 Bedrooms | $575K | $610K | +6.1% |
5+ Bedrooms | $640K | $740K | +15.6% |
Summary: Royal Palm Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.2%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 15.6%.
Median Sold Price Compared To Nearby Cities
Royal Palm Beach-West Jupiter | $530.5K | $599.6K | +13.0% |
Royal Palm Beach | $460K | $490.1K | +6.5% |
Loxahatchee | $633.1K | $673.1K | +6.3% |
Wellington | $664.8K | $695K | +4.5% |
Loxahatchee Groves | $775K | $756.2K | -2.4% |
Housing Supply in Royal Palm Beach, FL
How many homes are available in Royal Palm Beach, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
238 | 273 | +14.7% |
Summary: The Royal Palm Beach real estate market had 273 homes for sale in May 2024, a 14.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 13 | +44.4% |
2 Bedrooms | 52 | 54 | +3.8% |
3 Bedrooms | 97 | 116 | +19.6% |
4 Bedrooms | 53 | 59 | +11.3% |
5+ Bedrooms | 27 | 31 | +14.8% |
Summary: The Royal Palm Beach housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 44.4%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 19.6%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 14.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
36 | 34 | -5.6% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in Royal Palm Beach in May 2024, down by 5.6% month-over-month. Of the 34 sold homes, 74% were sold under asking, 15% were sold at asking, and 12% were sold over asking.
Days on Market for Royal Palm Beach, FL
How long does it take to sell a home in Royal Palm Beach, FL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
44 Days | 37 Days | -16.0% |
Summary: Homes in Royal Palm Beach had an average of 37 days on market in May 2024, down by 16% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 34 homes were sold in Royal Palm Beach; 53% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.