Published by Peter Zalewski
5/5/2024 
9:55:52 PM 
The average asking price for a luxury condo in the Downtown West Palm Beach And Island market is nearly $5.4 million at the end of the South Florida Winter Buying Season. (Photo courtesy of Google Maps)
The Downtown West Palm Beach And The Island condo market is in a buyers market with nearly 10 months of supply currently listed for resale at the end of the South Florida Winter Buying Season, according to an analysis of statistics compiled by CondoVulturesRealty.com.
The Downtown West Palm Beach And Island market is defined for this report as Southern Boulevard north to Palm Beach Lakes Boulevard / Atlantic Avenue, and the Atlantic Ocean west to Interstate 95.
In the 12 months of 2023, buyers purchased an average of nearly 16 luxury units per month for a total of about 191 units between January and December.
Luxury units are defined as any condo listed for a minimum price of at least $1 million.
Based on the current active listings in the Multiple Listing Service – a database used by Realtors to market condos – the Downtown West Palm Beach And Island area is in a buyers market with a supply of nearly 155 luxury units available for purchase.
We have crunched the statistics for the Year 2023 and plan on publishing a series of reports during this week on CondoVultures.com looking at the winners and losers in the Downtown West Palm Beach And Island market in Northeast Palm Beach County.
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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
Copyright © 2024 Condo Vultures®, LLC. All Rights Reserved.
Condo Market Inventory Tracker
A Snapshot Of Tricounty South Florida Region Of Miami-Dade, Broward And Palm Beach
| Databases | Active Listings | Months Of Supply |
|---|---|---|
| Condos | 24,016 | 10.2 |
| Luxury Condos | 3,740 | 15.1 |
| Shortsales | 30 | 15.0 |
| REOs | 126 | 6.6 |
| Rentals | 21,476 | 3.9 |
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.
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