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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.

Analysis Window
90 Days
Total Properties Analyzed
247
Active Listings
104
Sold Properties
143

Market Metrics

Median Listing Price
$1,049,500
Median Sold Price
$599,250
Median Price per Sqft
$441/sqft

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

Median Market Rent
$2,500

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

Property Tax Rate
0.99%

Liquidity & Velocity

Median Days on Market
659
Sale-to-List Ratio
100.0%

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.

Price YoY Trend
down
Market Temperature
cold
Rent YoY Trend
down
Interest Rate Pressure
elevated

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

  1. 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

  2. 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

  3. 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

  4. 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

101 Alhambra Pl, West Palm Beach, FL 33405
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

4 beds
2 baths
2,858 sqft
$15,500,000
Mar 1, 2026
$5,423/sqft/sqft
3640 days on market
7621 S Flagler Dr Fl Agler, West Palm Beach, FL 33405
Premium

Sold above market average

6 beds
5 baths
5,019 sqft
$15,500,000
Mar 1, 2026
$3,088/sqft/sqft
452 days on market
3215 S Flagler Dr Fl Agler, West Palm Beach, FL 33405
Premium

Sold above market average

4 beds
4 baths
4,814 sqft
$10,510,000
Mar 1, 2026
$2,183/sqft/sqft
309 days on market
339 Hunter St, West Palm Beach, FL 33405
Premium

Sold above market average

3 beds
2 baths
1,384 sqft
$1,050,000
Mar 1, 2026
$759/sqft/sqft
1795 days on market
5401 Prairie Trl, West Palm Beach, FL 33405
Premium

Sold above market average

2 beds
1 baths
835 sqft
$1,049,000
Mar 1, 2026
$1,256/sqft/sqft
3465 days on market
8009 Flagler Ct Fl Agler, West Palm Beach, FL 33405
Value

Sold below market average

4 beds
4 baths
7,269 sqft
$1,047,523
Mar 1, 2026
$144/sqft/sqft
2828 days on market
722 Forest Hill Blvd, West Palm Beach, FL 33405
Value

Sold below market average

3 beds
1 baths
850 sqft
$335,000
Mar 1, 2026
$394/sqft/sqft
283 days on market
953 Churchill Rd, West Palm Beach, FL 33405
Value

Sold below market average

2 beds
1 baths
964 sqft
$331,000
Mar 1, 2026
$343/sqft/sqft
2975 days on market

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.

Analysis Window
90 Days
Total Properties Analyzed
147
Active Listings
4
Sold Properties
143

Market Metrics

Median Listing Price
$850,000
Median Sold Price
$1,074,000
Median Price per Sqft
$397/sqft

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

Median Market Rent
$3,500

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

Property Tax Rate
0.39%

Liquidity & Velocity

Median Days on Market
2123
Sale-to-List Ratio
100.0%

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.

Price YoY Trend
down
Market Temperature
cold
Rent YoY Trend
down
Interest Rate Pressure
elevated

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

  1. 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.

  2. 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.

  3. 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.

  4. 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

3901 S Flagler Dr Apt 1001, West Palm Beach, FL 33405
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

2 beds
2 baths
1,982 sqft
$3,250,000
Mar 1, 2026
$1,640/sqft/sqft
1687 days on market
3901 S Flagler Dr Apt 805, West Palm Beach, FL 33405
Premium

Sold above market average

2 beds
2 baths
1,178 sqft
$2,500,000
Feb 1, 2026
$2,122/sqft/sqft
3901 S Flagler Dr Apt 602, West Palm Beach, FL 33405
Premium

Sold above market average

2 beds
2 baths
1,178 sqft
$2,000,000
Feb 1, 2026
$1,698/sqft/sqft
3901 S Flagler Dr Apt 204, West Palm Beach, FL 33405
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

2 beds
2 baths
1,178 sqft
$990,000
Feb 1, 2026
$840/sqft/sqft
3705 S Flagler Dr Apt 31, West Palm Beach, FL 33405
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

1 beds
1 baths
667 sqft
$950,000
Mar 1, 2026
$1,424/sqft/sqft
2507 days on market
3705 S Flagler Dr Apt 22, West Palm Beach, FL 33405
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

1 beds
1 baths
667 sqft
$950,000
Mar 1, 2026
$1,424/sqft/sqft
2816 days on market
3800 Washington Rd Apt 1003, West Palm Beach, FL 33405
Premium

Sold above market average

2 beds
2 baths
1,222 sqft
$700,000
Mar 1, 2026
$573/sqft/sqft
2681 days on market
3915 S Flagler Dr Apt 320, West Palm Beach, FL 33405
Premium

Sold above market average

1 beds
1 baths
600 sqft
$700,000
Feb 1, 2026
$1,167/sqft/sqft

Investment Analysis

Compare rental income potential against ownership costs and benchmark against market averages.

Rent vs Cost to Own

Monthly rental income vs estimated ownership cost

-$1,134/mo
33405 Avg Rent
33405 Cost to Own
Rent$2,500
Own$3,634

20% down, 6.3% rate, 1.0% tax

Short-Term Rental

Avg nightly rate and occupancy for this ZIP

33405 Avg nightly rate
33405 Avg occupancy (days/year)
Nightly rate$267/night
Occupancy121 of 365 days

Data Sources

Real estate market data & public records, and GemHaus® proprietary models.

Report generated: 5/1/2026

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