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  • PRECONSTRUCTION
    CONDO PROJECT TRACKER
    or
    Only 5-Month Supply Of Palm Beach County Condos Listed For Sale At Start Of Summer Buying Season

    Palm Beach County Condos Trade For $173 PSF In Q1 2018

    (This Report Is Powered By Brickell Ventures LP)

    DOWNTOWN MIAMI (July 17, 2018) - More than 4,400 condo units are formally listed for sale in the South Florida county of Palm Beach, according to a new report from Condo Vultures® Realty LLC. 

    Based on condo sales of about 812 units monthly in the first quarter of 2018, Palm Beach County now has about a five-month supply of units available for purchase in the tricounty South Florida region of Miami-Dade, Broward and Palm Beach at the start of the Summer Buying Season, according to the report based on data from the Southeast Florida MLS Matrix. 

    A balanced market is generally considered to have about six months of supply. More months of condo supply listed for sale suggests a buyer’s advantage and less months typically indicates a seller’s advantage in the market. 

    It is worth noting this report only tracks those Palm Beach County condos formally listed for sale. The report does not factor in the nearly 47,500 new condo units currently in the development pipeline east of Interstate 95 in the tricounty region. 

    (For the latest South Florida preconstruction condo project pipeline, please visit: CraneSpotters.com.) 

    Currently, nearly 1,030 Palm Beach County condo units are under contract waiting to transact - or pending - at an average asking price of more than $962,775 each or about $323 per square foot, according to the statistics. 

    The average asking price of a Palm Beach County condo currently listed for sale is more than $431,875 per unit. This works out to an average asking price of $247 per square foot, according to the data compiled by CondoVulturesRealty.com

    In the first three months of 2018, the average transaction price of a Palm Beach County condo was about $248,120 each or about $173 per square foot, according to the statistics. 

    This means the current asking price of a Palm Beach County condo listed for sale is about 74 percent higher than the average transaction price achieved on a per-unit basis and nearly 43 percent higher than the average transaction price on a per-square-foot basis between January and March of this year. 

    In the first quarter of 2018, the sellers who were able to unload their units needed about 77 days to transact a Palm Beach County condo listed for sale. The current Days-On-The-Market average for a Palm Beach County condo listed for sale is about 130, according to the statistics. 

    The number of Days-On-The-Market for the Palm Beach County condo units currently under contract - or pending - is about 108, according to the statistics.

    CondoVulturesRealty.com is a licensed Florida brokerage that specializes in assisting buyers and tenants in value-oriented condo acquisitions and leases in the tricounty region of Miami-Dade, Broward and Palm Beach.

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