Palm Beach County’s housing market showed renewed momentum in February 2026, with deal volume climbing even as stock tightened and rate patterns diverged between residential or commercial property types, according to the Miami Association of Realtors.
Closed sales of existing homes rose 9% from a year earlier to 1,847 deals, led by ongoing strength in both single-family and condominium segments. Single-family home closings increased nearly 8% to 1,089 units, while condominium sales advanced more than 10% to 758, highlighting continual demand across the marketplace.
Cost development stayed uneven. The median rate for single-family homes rose 4.3% year-over-year to $675,000, extending a long-lasting rise that has actually seen worths more than double because 2008. In contrast, condo rates edged a little lower, slipping 0.6% to $315,000, though still up greatly over the past years and a half.
Diminishing inventory continues to shape market characteristics. Total active listings decreased simply over 10% from a year earlier to 13,072 residential or commercial properties at the end of February. Single-family stock fell 8.6% to 5,749 listings, while apartment supply dropped 11.4% to 7,323 systems. Regardless of the yearly decrease, total stock stays listed below pre-pandemic norms, reinforcing competitors among purchasers.
The imbalance in between supply and demand is more pronounced in the single-family segment. With 4.9 months of supply, the market continues to prefer sellers, usually defined as less than 6 months of stock. Condos, by comparison, are approaching equilibrium, with 8.9 months of supply– within the range generally considered well balanced.
Distressed sales remain a negligible share of activity, accounting for simply 0.5% of all deals. Bank-owned properties and brief sales represented 0.3% and 0.2% of closings, respectively, highlighting the market’s underlying stability.
Purchasers are still negotiating modest discounts relative to preliminary asking costs. Sellers of single-family homes received a typical 94% of their original sale price, while apartment sellers accomplished 92%. Residence are likewise taking slightly longer to move. Single-family homes spent a mean of 53 days on the marketplace before going under agreement, with overall time to sale encompassing 91 days. Condominiums averaged 69 days to agreement and 105 days to close, both partially higher than a year previously.
Money remains a dominant force in the marketplace. All-cash deals accounted for nearly 55% of February sales, up from about 53% a year earlier and well above the national average. The pattern is particularly pronounced in the apartment sector, where more than two-thirds of purchases were made in cash, compared to 47% for single-family homes.
The elevated share of cash buyers shows South Florida’s enduring interest international investors and domestic migrants moving from higher-cost areas. Those buyers, frequently less conscious home mortgage rates, continue to underpin demand even as financing conditions remain fairly tight.
Taken together, February’s information indicate a market that is still expanding, however at a measured speed– supported by strong need and constrained supply, with significant distinctions emerging in between residential or commercial property types, according to the Miami Association of Realtors.