Published by Peter Zalewski
6/17/2024 
10:44:35 PM 
Palm Beach County condos traded at an average price of about $346 per square foot in the Winter Buying Season. (Photo courtesy of Google Maps)
This was the worst Winter Buying Season for Palm Beach County condo resales since the Great Recession, according to an analysis of statistics compiled by CondoVulturesRealty.com.
The Winter Buying Season traditionally extends from November through April when visitors flock to South Florida to take advantage of the weather, events and vibe.
Tourists may have come to South Florida and specially Palm Beach County this Winter Buying Season but they were not purchasing condos at the same pace as previous seasons.
Buyers purchased less than 3,900 condos in Palm Beach County between November 2023 and April 2024. By comparison, buyers bought nearly 4,300 condos in the 2022-23 season. That is about a 10-percent drop in total transactions.
In the 2021-22 season, buyers purchased nearly 6,600 condos in Palm Beach County.
This is the third consecutive year that condo resales were down from the recent peak of the 2020-21 Winter Buying Season when more than 7,200 units traded.
We crunch a lot of statistics each week and then publish the results byway of a series of reports posted on CondoVultures.com.
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The objective of the Club is to create a community that shares realtime, actionable information on the latest real estate trends, opportunities and service providers in South Florida.
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This information is believed to be accurate and complete but cannot be guaranteed or warranted. For more information, please call 305.865.5859 or visit CondoVulturesRealty.com
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Condo Market Inventory Tracker
A Snapshot Of South Florida Vintage Condos
| Databases | Active Listings | Months Of Supply |
|---|---|---|
| Condos | 15,388 | 8.2 |
| Luxury Condos | 985 | 9.1 |
| Shortsales | 19 | 12.1 |
| REOs | 98 | 5.8 |
| Rentals | 12,874 | 3.7 |
Peter Zalewski is a licensed real estate broker and consultant focused on the South Florida condo market. Zalewski is a former special contributor to the Miami Herald and a former real estate columnist for The Real Deal magazine. Zalewski now hosts the Miami Real Estate Investing Podcast that is available in audio and video wherever you get your podcasts.
Confused about whether it is the appropriate time to buy or sell a condo in South Florida? The experts at CVR Realty are here to assist you in crafting a strategy during this uncertain time. Unlike many brokers offering services, our organization has been through the cycles and can assist you to capitalize on the situation.
For a free consultation, please contact the South Florida Condo Experts
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