MIAMI — Palm Beach County total home sales rose year over year for the ninth consecutive month, according to May 2026 statistics released by MIAMI REALTORS® + RWorld, the MIAMI MLS and BeachesMLS.
Total home sales increased 7.3% year-over-year. Single-family home transactions rose 7.7%, while condo sales increased 6.6%. Sales of Palm Beach County properties priced at $1 million and above climbed 15.8% from a year earlier. At the more accessible end of the market, condo sales in the $400,000 to $500,000 price range increased 5.4% year-over-year.
“Palm Beach County’s status as the nation’s leading all-cash homebuying market highlights the strength of its luxury real estate market and the continued influx of wealth into the region,” said MIAMI REALTORS® + RWorld Palm Beach Regional Vice President Stacy Plean. “With West Palm Beach rapidly emerging as the Wall Street of the South and attracting businesses and new residents from around the world, Palm Beach County is poised for continued growth.”
Top Palm Beach County rankings:
- West Palm Beach ranked No. 1 All-Cash Home Buying Market in the U.S. via Redfin
- Palm Beach ranked No. 3 in the world in prime property price growth in the last five years via Knight Frank Wealth Report 2026
- West Palm Beach ranked No. 2 America’s Fastest-Growing Millionaire Hub via USA Wealth Report 2025.
Palm Beach County Total Sales Rise
Total Palm Beach County sales increased 7.3% year-over-year in May 2026, from 2,275 to 2,440.
Palm Beach County single-family home sales increased 7.72% year-over-year in May 2026, from 1,334 to 1,437.
Palm Beach County existing condo sales increased 6.59% year-over-year in May 2026, from 941 to 1,003.
The lack of Federal Housing Administration loans for many existing Miami condominium buildings is preventing further market strengthening. Of the 2,397 condominium buildings in Miami-Dade, Broward and Palm Beach counties, only 21 are approved for FHA loans, according to statistics from the U.S. Department of Housing and Urban Development.
Just 0.9% of South Florida condo buildings are approved for FHA loans.
Fannie Mae and Freddie Mac are eliminating the limited review option for many condo loans beginning Aug. 3, 2026. For decades, Florida condominium borrowers and owners faced stricter lending standards and higher financing hurdles than those in many other states. The updated guidelines are expected to create a more transparent and financially secure lending environment.
Palm Beach County Condominium Sale Prices Have Appreciated 138% Since 2008
Palm Beach County condo prices have increased 138% since 2008, from $135,000 to $345,000.
Palm Beach County condo median sale prices increased 4.55% year-over-year in May 2026, from $330,000 to $345,000. Condo inventory is declining year-over-year, which will put upward pressure on prices.
Palm Beach County single-family home prices increased 5.47% year-over-year in May 2026, from $640,000 to $675,000.
Palm Beach County single-family prices have risen 125.8% since 2008, from $278,000 to $630,000.
MIAMI REALTORS® + RWorld continues to support cross-sector stakeholder solutions – like removing obstacles to permitting and zoning, funding the Florida Hometown Heroes Program, and creating pathways for accessory dwelling units (ADUs) – to facilitate both the creation and preservation of safe and affordable housing.
Miami’s surging multifamily market and the Florida Live Local Act should boost affordability in the future. Southeast Florida ranks No. 1 in the U.S. for most multifamily construction, according to MIAMI REALTORS® Research. This is important because it adds more overall housing/apartment supply to a city, creates more affordability and adds to Miami’s economic growth.
Florida’s Live Local Act, which was passed in 2023 and amended in May 2024, is encouraging developers to build more affordable housing. The Live Local Act gives developers the highest density allowed in a local area if they allocate 40% of its units for affordable housing. The state law defines an affordable unit as being at or below 120% of an area’s median income.
Miami remains a bargain in comparison to other global cities. For $1M, homebuyers can purchase 58 square meters of prime property in Miami, according to the 2026 Knight Frank Wealth Report. That is almost four times more than Monaco (16 square meters), nearly two times more than New York (34) and London (33) and more than Paris (37), Tokyo (37) and more.
Elevated Mortgage Rates
Mortgage rates are trending up because of inflation, the Iran war and current geopolitical events. According to Freddie Mac, the 30-year fixed-rate mortgage was 6.44% in May 2026.
“South Florida’s housing market has remained remarkably robust despite rising mortgage rates that could hit 6.7% by year-end per MIAMI REALTORS® + RWorld latest outlook update,” MIAMI REALTORS® + RWorld Chief Economist Gay Cororaton said. “This year is shaping up to be the strongest yet since 2021 due to the phenomenal surge in million-dollar sales that have surged nearly 20% from one year ago.”
Total Palm Beach County Inventory Declines
Total active listings at the end of May 2026 decreased 20.9% year-over-year, from 14,471 to 11,447. Decreasing supply means more buyer competition and upward price pressure.
Inventory of single-family homes decreased 22.61% year-over-year in May 2026 from 6,391 active listings last year to 4,946 last month.
Condominium inventory decreased 19.54% year-over-year in May 2026, from 8,080 to 6,501 listings during the same period in 2025, but the total is still significantly below pre-pandemic.
Months’ supply of inventory for single-family homes is 4.1 months, which indicates a seller’s market. Inventory for existing condominiums is 7.7 months, which indicates a balanced market. A balanced market between buyers and sellers offers between six- and nine-months supply.
Nationally, total housing inventory is 1.55 million units, according to NAR. That is up 0.6% from May 2025. There is 4.5-month supply of unsold inventory, down slightly from 4.6 months from one year ago.
Palm Beach County Real Estate: $314 Million in Local Economic Impact
Every time a home is sold it impacts the economy: income generated from real estate industries (commissions, fees and moving expenses), expenditures related to home purchase (furniture and remodeling expenses), multiplier of housing related expenditures (income earned as a result of a home sale is re-circulated into the economy) and new construction (additional home sales induce added home production).
The total economic impact of a typical Florida home sale is $129,000, according to NAR. Palm Beach County sold 2,440 homes in May 2026 for a local economic impact of $314 million.
Palm Beach County total dollar volume increased 7.25% year-over-year in May 2026 to $2.6 billion.
Single-family home dollar volume increased 6.4% year-over-year to $1.9 billion. Condo dollar volume increased 9.92% year-over-year to $641 million.
Palm Beach County Distressed Sales Remain at Historic Lows, Reflecting Healthy Market
Only 0.8% of all closed residential sales in Palm Beach County were distressed last month, including REO (bank-owned properties) and short sales.
Short sales and REOs accounted for 0.2% and 0.6%, respectively, of total Palm Beach County sales in May 2026.
State & National Sales
In Florida, closed sales of single-family homes statewide totaled 24,915 in May 2026, up 0.6% year-over-year, while existing condo-townhouse sales totaled 8,897, up 6.6%.
The statewide median sales price for single-family existing homes was $425,000, up 2.4% year-over-year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $306,990, down 1% vs. last year. The median is the midpoint; half the homes sold for more, half for less.
Nationally, total existing home sales increased 3.2% year-over-year to a seasonally adjusted annual rate of 4.17 million, according to NAR. Median existing home prices increased to $429,300, up 1.3% from one year ago ($423,700) – the 35th consecutive month of year-over-year price increases.
Palm Beach County Real Estate Attracting Near List Price
The median percent of original list price received for single-family homes was 95% in May 2026. The median percent of original list price received for existing condominiums was 92%.
The median number of days between listing and contract dates for Palm Beach County single-family home sales was 40 days, up from 42 days last year. The median time to sale for single-family homes stayed even at 86 days.
The median number of days between the listing date and contract date for condos was 69 days, up from 60 days. The median number of days to sale for condos was 108 days, up from 101 days.
Palm Beach County Cash Sales More than National Figure
Cash sales represented 52.9% of Palm Beach County closed sales in May 2026, compared to 49.2% in May 2025. About 25% of U.S. home sales are made in cash, according to the latest NAR statistics.
Cash buyers are not deterred by rising rates. The high percentage of cash buyers reflects South Florida’s top position as the preeminent American real estate market for foreign buyers, who tend to purchase with all cash as well as some moving from more expensive U.S. markets who can buy more with their profits from real estate sales.
Cash sales accounted for 62% of all Palm Beach County existing condo sales and 46.5% of single-family transactions.
To access May 2026 Palm Beach County Statistical Reports, visit http://www.SFMarketIntel.com
Note: Statistics in this news release may vary depending on reporting dates. MIAMI reports exact statistics directly from its MLS system.
About MIAMI REALTORS® + RWorld
MIAMI REALTORS® + RWorld was chartered by the NATIONAL ASSOCIATION OF REALTORS® in 1920, and is celebrating 106 years of service to REALTOR® members, the buying and selling public, and the communities in South Florida. Composed of eight boards: MIAMI RESIDENTIAL, COMMERCIAL; BROWARD; JTHS; PALM BEACH; TREASURE COAST; YOUNG PROFESSIONALS NETWORK (YPN); and the Corporate Board of Directors. MIAMI REALTORS® + RWorld represent approximately 93,000 total real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local REALTOR® association in the world and has official partnerships with 307 international organizations worldwide. MIAMI REALTORS® + RWorld, along with their respective Multiple Listing Services, MIAMI MLS and BeachesMLS, merged on May 11, 2026 in the largest merger in NAR history. The organization’s proposed new name will be Miami and South Florida REALTORS®, pending approval by NAR. MIAMI’s official website is www.MiamiRealtors.com RWorld’s official website is www.RWorld.com
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