West Palm Beach, FL 33405 Real Estate Market Report
ZIP Code: 33405
Report Date: May 2026
Market Temperature: COLD
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in West Palm Beach are averaging 6.4%, reflecting a stable market environment for property owners compared to the 2026 annual forecast range of 5.7% to 6.5%.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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599,250 is the best indicator of realized market value—median sold price shows transactions are occurring materially below asking levels, suggesting pricing friction between seller expectations and recent sale outcomes. down
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1,049,500 median listing price highlights a significant gap versus the median sold price, which may indicate sellers are optimistic relative to traded prices and could prolong time-to-contract if prices do not adjust. moderate
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659 median days on market signals much slower sales velocity than typical seasonal norms and suggests increased holding periods for sellers; this slower liquidity profile may pressure sellers to adjust price or concessions. cold
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Market context shows a cold market temperature with elevated interest rate pressure (30-year fixed ~6.4%), and rent trends are down, which together may suppress near-term buyer activity; inventory appears to be relatively constrained active supply in the analyzed sample, supporting selective opportunities for well-priced listings. neutral
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Sold above market average
Sold above market average
Sold below market average
Sold below market average
Sold below market average
West Palm Beach, FL 33405 Real Estate Market Report
ZIP Code: 33405
Report Date: May 2026
Market Temperature: COLD
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in West Palm Beach are averaging 6.4%, reflecting a stable market environment for property owners compared to the 2026 annual forecast range of 5.7% to 6.5%.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The primary market value indicator is the median sold price of 1,074,000, which anchors recent transaction pricing and suggests that completed sales are concentrated near this level rather than at asking-price expectations; use this as the representative recent sale benchmark when valuing comparable SFR and condo listings.
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Sales velocity is materially slower: the median days on market is 2,123, which appears to indicate prolonged time-to-close and increased pricing friction that may require seller concessions or price adjustments to reaccelerate transactions.
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Price and rent momentum are both weakening: year-over-year price direction is down and rent year-over-year trend is down, while the median price per square foot remains 397, signaling that per-unit pricing is holding a level even as overall market direction softens.
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Borrowing conditions remain a moderating factor: current 30-year fixed mortgage rates average 6.4%, combined with elevated interest rate pressure and a cold market temperature that suggests buyers will be more rate-sensitive and sellers may need to price more competitively to reflect financing headwinds.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold above market average
Sold above market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.3% rate, 1.0% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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