Published by Peter Zalewski
6/17/2024 
7:10:52 PM 
Renters leased nearly 6,500 residences in Palm Beach County in the 2023-24 Winter Buying Season. (Photo courtesy of Google Maps)
As South Florida condo prices appreciate to the highest levels in recent memory, the number of leases completed in Palm Beach County increased by more than 10 percent during the recently concluded 2023-24 Winter Buying Season, according to an analysis of statistics compiled by CondoVulturesRealty.com.
As leasing activity jumped by double digits, the median rental rate per square foot monthly increased less than one percent in the 2023-24 season compared to the 2022-23 season.
The Winter Buying Season traditionally stretches from November through April when visitors flock to South Florida to take advantage of the weather, events and vibe.
Tenants leased nearly 6,500 residences – apartments, condos, efficiencies multifamily units and townhouses – in Palm Beach County County in the 2023-24 season. By comparison, renters leased nearly 5,900 residences in the 2022-23 season. That represents more than a 10 percent increase in total lease transactions.
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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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