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 April 2023
At the same time last year, Royal Palm Beach was a Seller's Market.
Key Takeaway
Royal Palm Beach is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Royal Palm Beach, FL
How much do homes in Royal Palm Beach, FL cost?
Median Sold Price
$490,000
$253/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Royal Palm Beach have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Royal Palm Beach was $490,000 in April 2024, up 6.5% from last year, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $118K | $137K | +16.1% |
| 2 Bedrooms | $273.7K | $270K | -1.4% |
| 3 Bedrooms | $459.9K | $480K | +4.3% |
| 4 Bedrooms | $565K | $607.5K | +7.5% |
| 5+ Bedrooms | $655K | $728.5K | +11.2% |
Summary: Royal Palm Beach housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.1%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 11.2%.
Median Sold Price Compared To Nearby Cities
| Royal Palm Beach-West Jupiter | $533.4K | $592.7K | +11.1% |
| Loxahatchee Groves | $760K | $810K | +6.6% |
| Royal Palm Beach | $459.9K | $490K | +6.5% |
| Loxahatchee | $635.8K | $672.1K | +5.7% |
| Wellington | $664.9K | $699.4K | +5.2% |
Housing Supply in Royal Palm Beach, FL
How many homes are available in Royal Palm Beach, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 232 | 256 | +10.3% |
Summary: The Royal Palm Beach real estate market had 256 homes for sale in April 2024, a 10.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 8 | +100.0% |
| 2 Bedrooms | 52 | 52 | 0.0% |
| 3 Bedrooms | 93 | 107 | +15.1% |
| 4 Bedrooms | 57 | 58 | +1.8% |
| 5+ Bedrooms | 26 | 31 | +19.2% |
Summary: The Royal Palm Beach housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 15.1%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 19.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 47 | 37 | -21.3% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Royal Palm Beach, you may be able to get a good deal. 64.9% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in Royal Palm Beach in April 2024, down by 21.3% month-over-month. Of the 37 sold homes, 65% were sold under asking, 22% were sold at asking, and 14% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 55 Days | 38 Days | -31.0% |
Summary: Homes in Royal Palm Beach had an average of 38 days on market in Apr 2024, down by 31% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Royal Palm Beach are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 37 homes were sold in Royal Palm Beach; 65% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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