February 2025 Real Estate Market Reports: Palm Beach & Broward County
Palm Beach:
The Palm Beach County real estate market in February 2025 shows homes sitting longer and sellers adjusting expectations.
Key takeaways:
Homes are taking longer to sell—The absorption rate jumped nearly 40% year-over-year, giving buyers more options and negotiating power.
Prices are mixed—The median sale price is up 8.74% to $535K, but the median list price is down 6.11%, showing sellers are adjusting.
Days on market increased—The average days on market (CDOM) is up over 40%, meaning homes aren’t moving as quickly.
Sales activity is slowing—Total closed sales dropped 21.3% from last February.
Luxury market ($5M+) remains strong, but other price points are seeing declines in both closed and pending sales.
Overall, buyers have more leverage than they did a year ago, with rising inventory sellers are adjusting expectations on pricing as the market evolves. If you're thinking of buying, now’s the time to negotiate! Sellers, pricing competitively is key in this shifting market.
Broward:
The Broward County real estate market in February 2025 is pointing towards a more balanced market— but still leaning toward a buyer’s advantage.
Key takeaways:
Home prices are still climbing—The average sale price jumped 12% year-over-year to $651K, and the median sale price is up 7% to $455K.
Homes are taking longer to sell—The median days on market increased by 34%, now at 59 days.
Fewer homes are selling—Sold listings are down a staggering 60% from last year.
Pending sales are slowing too, meaning buyers are being more cautious.
Absorption rate sits at 5.05 months, inching toward a balanced market.
Overall, buyers have more negotiating power with homes sitting longer and fewer competing offers. If you’re thinking of selling, pricing strategically is key in this market. Want to talk strategy? Let’s chat.
