Housing Market Update June 2025

Palm Beach County Housing Market Update – June 2025

The Palm Beach County real estate market is shifting—and whether you’re a buyer, seller, or investor, it’s important to understand what’s really happening. With the latest data from May and June, we’re seeing a clear cooling trend across both single-family homes and condos. These changes reflect growing buyer caution, more competitive listings, and a noticeable slowdown in price momentum.

 Closed Sales Are Slowing Down

Closed sales are down for both single-family homes and condos when compared to this time last year. This signals that buyers are becoming more selective, taking longer to make decisions, and weighing their options more carefully. For sellers, this means pricing and preparation are more important than ever if they want to attract serious interest.

 Prices Are Softening

We’re also seeing a softening in home prices. Median sale prices dipped slightly from May to June for both property types—and year-over-year prices are down as well. This doesn’t mean homes aren’t selling, but buyers are no longer racing to pay over asking. Pricing a home correctly from the start is now crucial to avoid extended time on market and potential price reductions later.

 Inventory Is Rising

One of the biggest shifts in the market is the rise in inventory. Active listings are up more than 20% year-over-year, giving buyers more choices and putting pressure on sellers to stand out. With more homes to choose from, buyers can afford to take their time—and many are holding out for updated, move-in-ready properties that are competitively priced.

 Time on Market Is Increasing

Homes are also taking longer to go under contract. Condos, in particular, are seeing a median of 60+ days to pending status. This extended market time is a clear sign of buyer hesitation, and it’s especially important for sellers to understand that today’s buyers expect value, presentation, and flexibility.

 Negotiation Is Back

Original list-to-sale price ratios are trending downward, showing that buyers now have more room to negotiate. While homes are still selling, fewer are reaching full asking price—unless they’re move-in ready and priced right. Sellers who are motivated are often making concessions, while others are holding firm or even pulling their listings entirely if they’re not getting the offers they want.

 Final Thoughts

The bottom line? This is becoming a buyer-friendly market—especially in the condo sector. Whether you’re buying or selling, understanding these trends and adjusting your strategy is key. Renovated homes priced to reflect today’s market are the ones that are moving. If you’re considering making a move in 2025, let’s talk about how to position yourself for success in this changing landscape.