West Palm Beach Real Estate Market
Buying Property in Florida
CityPlace Shopping and Dining
- Population: 101,000
- Condo: $100,000 – $3m
- Family home: $150,000 – $3.9m
- Waterfront: (Palm beach): $150,000 – $59m
- Investment Potential rating: ****
- Nearest international Airport: Palm Beach International Airport
West Palm Beach is a thriving and busy city with plenty of diversity and a vibrant culture. Set along the Intracoastal Waterway, it has an historic downtown, as well as many other historic areas. West Palm Beach is a center for the arts and history with the acclaimed Antique Row, the Kravis Center for the Performing Arts, and the Norton Art Museum.
There are two important shopping areas centered on Clematis Street and City Place, which have great shops, restaurants and nightlife. West Palm Beach has a tropical rainforest climate, and is one of the wetter cities in the U.S.
West Palm Beach Property Market Summary
The West Palm Beach real estate market is a complex one, and over the last year has experienced a 44 percent drop in inventory and 28 percent rise in median price, all of which creates an incredibly tight and competitive market. However, property here is a safe long term bet. In West Palm Beach the waterfront market is primarily made up of waterfront condos—many of which are listed as single family homes.
What Can I Buy in West Palm Beach?
It’s possible to snap up a water view one bedroom condo for $150,000, and at the top end of the market stunning luxury condos with three bedrooms and water views are available from around $800,000 to $3 million. Off the water it’s possible to get a three bedroom, new build golf course home for $150,000, or a comfortable lake view home for around $200,000.
And there are beautiful five bedroom pool homes in the $500,000 range. Heading across to Palm Beach itself, you will discover some of the most expensive property in America, with beachfront estates quite regularly selling for tens of millions, the most expensive currently listed? An eye-watering $59 million dollars.