Higher Priced Homes Facing Sales Problems. Condo Market Is Challenging.
BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2025 MetroDesk Media, LLC) — Single family home sales for homes valued at $1M and more are down in Palm Beach County while new listings are way up. That’s a key take-away from the latest Elliman Report prepared by Miller Samuel Real Estate Appraisers and Consultants. This report considers data from all of Palm Beach County.
When comparing newly signed contracts between April of 2024 and April of 2025, we see a 56-percent increase for homes valued at under $300,000. There’s a 21-percent drop for homes valued between $300K and $399K. There’s a rise of 16-percent for homes valued between $400K and $499K, and a 26-percent increase in the number of newly signed contracts for homes valued between $500K and $999K. But there is a 9-percent drop in signed contracts for homes valued between $1M and $2.99M, and a 35-percent drop for homes valued between $3M and 4.99M.
While home sales are down in some categories, new listings are up — and in some cases way up. Again, comparing April of 2024 with April of 2025: there’s a 22-percent increase in new listings for homes valued under $300k; a 45-percent increase for homes valued between $300K and $399K; a 57-percent increase in new listings for homes valued between $400K and $499K; a 36-percent increase in homes valued between $500K and $999K; a 24-percent increase for homes valued between $1M and $2.99M; a 95-percent increase in listings for homes valued between $3M and $4.99M, and a 109-percent increase in new listings for homes valued between $5M and $9.99M.
In the condominium market, newly signed contracts rose overall in Palm Beach County — comparing April of 2024 with April of 2025, by just 7.6-percent. There was a drop of 29-percent for condos valued between $600K and $999K. New listings, however, jumped by 25-percent. Notably: a 70-percent jump in new listings for condos valued under $200K; a 29-percent jump for condos valued between $300K and $399K; a 28-percent jump for condos in the $1M to $2.99M range, and a 35-percent jump for condos priced between $3M and $4.99M.
