I get asked "how's the market?" every day. For condos in Palm Beach County, the honest answer is that it depends a lot on the building.
I'm keeping this update to how the market is behaving. Any figure here has a date and a source.
Condos and houses are moving differently
Across Florida, condos and single-family homes have diverged. From what I see with clients, houses have held up better in many areas. Condos, especially older buildings working through inspection and reserve requirements, tend to see more negotiation.
Financing is part of the story. For loan applications dated on or after August 3, 2026, Fannie Mae and Freddie Mac retired their lighter review options for established condo projects, so most buildings now get a Full Review. Starting in January 2027, the reserve funding the agencies expect rises from 10% to 15% of the annual budget. Well-run buildings shouldn't struggle with this. Buildings with thin reserves may.
The building matters more than ever
Two condos at similar prices can be completely different purchases. A newer, well-funded tower is a different proposition from an older building with an open repair project. That's why our condo building reports focus on reserves, HOA and true cost.
Distress is mostly elsewhere, for now
Florida had the highest state foreclosure rate in the country in the first half of 2026, with 0.27% of housing units getting a filing, per ATTOM. The worst Florida metros on its list (Punta Gorda, Lakeland, Cape Coral, Jacksonville and Ocala) were all outside South Florida. That's worth watching, but it isn't the main story for luxury condos here.
Seasonality
In my experience, activity here picks up in the cooler months, when seasonal residents and visiting buyers are in town. Summer is often quieter, which can mean less competition for buyers who are here.
Luxury and new development
The top of the market behaves on its own terms. Buyers here are often less sensitive to rates and more focused on location, quality and building finances. New towers in West Palm Beach continue to come to market. I follow them on our developments page.
What I'm telling clients
- Buyers: You often have time to do proper due diligence and to negotiate. See my due diligence guide.
- Sellers: Price for your competition, prepare your paperwork early, and present the unit well. See how to sell a luxury condo.
— Joel Poulin, Broker Associate | The Corcoran Group · (561) 556-3668