According to new data from the Miami Association of Realtors, Palm Beach County residential real estate market experienced a notable slowdown in April 2025. Total residential sales declined 9.4% year-over-year, falling from 2,568 transactions in April 2024 to 2,326 this year.
Single-family home sales dipped 5.28% year-over-year, from 1,402 to 1,328, while existing condominium sales fell even more sharply, down 14.41% from 1,166 to 998 transactions.
Median prices also saw modest declines. The median sale price for single-family homes edged down 0.77% to $645,000, compared to $650,000 a year ago. Condo prices saw a more significant drop of 5.88%, from $340,000 to $320,000.
Despite the dip in sales, inventory continued to climb. Total active residential listings jumped 28.6% to 14,896–up from 11,582 a year earlier. Inventory for single-family homes rose 29.62% year-over-year to 6,503 listings, while condo inventory increased 27.84% to 8,393 units. However, overall inventory remains below pre-pandemic levels.
In terms of market dynamics, the single-family home segment still favors sellers, with 5.9 months of supply–just under the 6- to 9-month range that defines a balanced market. Condominiums, on the other hand, are firmly in buyer’s market territory with 10.4 months of supply.
Total dollar volume of residential sales decreased slightly–down 1.74% year-over-year to $2.26 billion. Single-family dollar volume was down 1.8% to $1.61 billion, while condos saw a 1.6% drop to $685 million.
Distressed sales remained extremely low, accounting for just 0.4% of all closed transactions in April 2025–slightly below the national average of 2%. REO (bank-owned) sales made up 0.4% of the total, while short sales were negligible at 0%.
Homes are taking slightly longer to sell. The median time from listing to contract for single-family homes increased to 41 days (up from 37), and the total time to close rose to 83 days (up from 80). Condominiums showed a similar trend, with median days to contract rising to 55 days (from 42) and time to sale increasing to 93 days (from 84).
Sellers are also receiving slightly less relative to their original asking prices. Single-family homes sold for a median of 94% of original list price, while condos fetched 91%.
Cash sales remained a dominant force in the market, comprising 51.7% of all closed transactions–down from 56.3% a year earlier. Cash purchases made up 63.6% of condo sales and 42.8% of single-family home sales. Nationally, only about 25% of home purchases are all-cash deals, per the latest data from the National Association of Realtors.
Despite shifting conditions, Palm Beach County’s housing market continues to exhibit signs of resilience amid broader economic headwinds and changing buyer dynamics.
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