July 2025 Market Update Palm Beach County

Here’s your Palm Beach County housing market snapshot for July 2025:

 Single-Family Homes

• Closed Sales: 1,185 homes sold in July — slightly up year-over-year.
• Median Price: $613,250, down ~4.8% YoY, but relatively steady compared to the past few months.
• Inventory: About 5.5 months of supply, putting us in a balanced market.

 Takeaway: Well-presented, fully renovated homes are still getting close to asking price — sometimes with seller credits. Homes needing updates are sitting longer or selling below list price.

 Condos & Townhomes

• Closed Sales: 771 condos sold — down ~12% YoY.
• Median Price: Around $300,500, a 6% drop from last year.
• Inventory: 9+ months of supply — a clear buyer’s market.

Between higher insurance costs, milestone inspections, and structural reserve study requirements, many buyers are cautious, and some sellers are holding firm on price, leading to longer days on market.

 Interest Rates & Market Outlook

Mortgage rates recently dropped to 6.29%, the lowest since fall 2024 and the biggest single-week drop since August 2024. With the Fed expected to cut rates again in the coming weeks, more buyers are likely to jump back into the market before year’s end.

 What this means for you:

• Buyers: Lower rates = more competition. If you’ve been waiting, now’s the time to get pre-approved before demand surges.
• Sellers: A balanced market today could shift in your favor if more buyers flood in by the end of 2025 — but pricing and presentation are key to stand out.

Palm Beach County remains highly desirable, and while condos are slower, single-family homes continue to move steadily. If you’re thinking about buying or selling, timing matters — and I’m here to guide you every step of the way.