Downtown Housing Market Report December 2024•Palm Beach County, Florida

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Housing Prices in Downtown, FL

How much do homes in Downtown, FL cost?

Housing Market Conditions

Is Downtown, FL a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Downtown is a Buyer's Market

Difference Since December 2023

At the same time last year, Downtown was a Seller's Market.

Insight

Downtown is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$520,000$478/SqFt
+$20,500
+4.1%

Based on all homes sold in the last 12 months

Insight

Homes in Downtown have sold for 4.1% more than they did a year ago.

Summary: The median home sold price in Downtown was $520,000 in December 2024, up 4.1% from last year, and the median price per square foot was $478.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1$383K$370K
-3.4%
2$560K$575K
+2.7%
3$1.8M$2.1M
+15.1%
4$3.8M$5.5M
+43.8%
5--
N/A

Summary: Downtown housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes decreased by -3.4%. The home price for 2 bedroom homes increased by +2.7%. The home price for 3 bedroom homes increased by +15.1%. The home price for 4 bedroom homes increased by +43.8%. The home price for 5 bedroom homes did not change.

Housing supply in Downtown, FL

How many homes are available in Downtown, FL?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
174Last MonthDec 2024
1592 months agoNov 2024
+9.4 %
Change MoMNov – Dec

Summary: The Downtown real estate market had 174 homes for sale in Dec 2024, a 9.4 % increase compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
12Last MonthDec 2024
62 months agoNov 2024
+100.0 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
13842
+10.5%
29599
+4.2%
32330
+30.4%
411
0.0%
522
0.0%

Summary: Downtown housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes increased by +10.5%. The inventory for 2 bedroom homes increased by +4.2%. The inventory for 3 bedroom homes increased by +30.4%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Downtown, FL cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price0 Home

Under Asking Price11 Homes

Insight

If you're buying a home in Downtown, you may be able to get a good deal. 91.7% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Downtown in December 2024, up by 100.0% month-over-month. Of the 12 sold homes, 92% were sold under asking, 0% were sold at asking, and and 8% were sold over asking.

Days on Market for Downtown, FL

How long does it take to sell a home in Downtown, FL?

Breakdown of Home Sale Times

Under 30 Days3 Homes

30 – 90 Days6 Homes

Over 90 Days3 Homes

Insight

Avg time on Rocket Homes in Downtown has remained consistent over time.

Summary: During December 2024, 12 homes were sold in Downtown; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
71 DaysThis YearDec 2024
72 Days1 year agoDec 2023
-1.8 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Downtown had an average listing age of 71 days in Dec 2024, down by 1.8% compared to the previous year.

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Newest Listings in Downtown, FL

What homes are available in Downtown, FL?

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Based on information from Beaches MLS, and Miami MLS for the period 01/01/2023 - 01/01/2025

IDXAll listings featuring the BMLS logo are provided by BeachesMLS, Inc. Copyright 2025 BeachesMLS, Inc.

This information is not verified for authenticity or accuracy and is not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/22/2025, 5:20:51 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX © 2025 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/22/2025, 5:20:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.