A wider selection is giving house hunters more room to compare price, pace, and negotiation risk.
If you are trying to decide whether to keep waiting or start touring now, my answer is simple start with the homes already on the market and get selective. In Palm Beach, FL, recent closed numbers point to a buyer's market, and supply stood at 13.33 months over the previous 30 days, which gives you time to compare options instead of forcing a rushed decision.
Over the previous 30 days, a typical sale in Palm Beach, FL took 97 days, and recent offers landed about 92.5% of asking. That combination tells me buyers are not boxed into a speed-only strategy. You can still move decisively, but you do not need to treat every property like it will disappear overnight. The selection question matters because the asking side and the closing side are not lining up evenly. Last month, a typical asking price for active homes was $2,775,000, while new pending homes were at $2,300,000 and homes waiting to close were at $2,400,000. My read is that Palm Beach, FL is rewarding careful comparison, not impulsive touring, especially when the typical closed price last month was $4,200,000 and the typical estimated property value was $1,932,000. Build a tight shortlist first. Compare active homes against the recent pending range before you decide what deserves a showing. Write offers from evidence, not emotion. For luxury owners watching from the sidelines, the same numbers support patience and sharper negotiation discipline.
About Donald Maycott
Donald Maycott is a licensed Real Estate Professional affiliated with EXP Realty LLC, specializing in the Palm Beach market. With a focus on strategic marketing and deep local knowledge, Donald Maycott provides clients with expert guidance in navigating complex real estate transactions. View full profile →
