Housing Market Update May 2025

Housing Market Update May 2025

(Yes, it is July but data doesn’t come out for the previous month until the end of the following!)

The real estate market in Palm Beach County is shifting—and whether you’re a homeowner, buyer, or just keeping an eye on things, it’s important to stay informed.

Condos:
We’re currently seeing over 10 months of condo inventory. Many buildings are dealing with rising HOA fees, hefty insurance rate hikes, and large assessments, largely due to post-Surfside regulation. While buildings were required to complete milestone inspections and structural integrity reserve studies by the end of 2024, a 1 year extension has been granted for those not yet in compliance.

Single-Family Homes:
With about 6 months of inventory, the single-family home market is more balanced—but buyers are waiting for rates to drop, and that’s slowing down activity. Homes that are renovated and priced right are still moving quickly. For example, I listed a move-in-ready Delray Beach home and had it under contract in two days at full asking.

On the flip side, a well-priced home with a pool but in need of updates has seen two price reductions and still no offers—a clear reflection of buyers’ current mindset. Many feel they’re doing sellers a favor just by making an offer… if they even submit one.

What Buyers & Sellers Should Know:

* Renovated = faster sale
* Dated = price cuts or credits
* Buyers are asking for concessions
* Sellers are either dropping price or holding out
* Market Trends:
* Prices are still projected to rise slightly through the end of 2025
* Interest rates are hovering around 6.75% and expected to come down
* Rental prices have dropped over the past year
Affordability remains a challenge—which makes professional guidance even more important

Whether you’re thinking of buying, selling, or just not sure where to start, I’m here to help. Let’s talk about your goals and come up with a plan that works for you.

Call me anytime—I’d love to connect.

Warmly,
Abbey Adair

You’ll Always Have the A+ Advantage with Me, your Trusted Realtor & Former Teacher!