Condo Sales Just Hit a Record Low. Here's What It Means If You Own a Condo in Palm Beach County
By Chris and Sue Kull, The Kull Group powered by Keller Williams Wellington | November 13, 2026
Quick Answer: National condo sales just fell to their lowest level in NAR records going back to 1999, but the most recent local data shows Palm Beach County condo prices holding roughly steady. What has changed is supply. With about seven months of condos for sale, buyers have choices. In our experience, owners who know what their association has coming are in a stronger position to sell. If you're weighing a sale, call us at 561-440-0777.
The National Association of Realtors' October report, released November 12, showed existing-home sales falling to a 3.75 million annual pace. That's the lowest since August 2010 and 8.8% below a year ago. NAR also reported that condo sales hit the lowest level in its records, which go back to 1999.
We have more than 31 years of real estate experience, and we remember 2010. The comparison to 2010 is about sales pace. The local price data below tells a different story: Palm Beach County condo prices are roughly flat, not collapsing.
If you're starting to think about a sale, a home value estimate for your Palm Beach County property is a practical way to move from the market headlines to your own unit.
What the Local Numbers Actually Say
We look past the national headline to the county data, because local conditions are closer to what your sale will actually face.
According to MIAMI REALTORS® and BeachesMLS, Palm Beach County condo sales in September were down 4.28% from a year earlier, from 817 to 782. That's a slowdown of about 4%, a narrower decline than the national headline might suggest.
Supply is the bigger story. An analysis of BeachesMLS listing data by PBP Real Estate counted 6,647 condos and townhouses for sale in the county on October 29, with 1,446 under contract. At September's sales pace, that analysis put condo supply at about 7.1 months, compared with about 4.1 months for single-family houses.
Prices are holding. October MLS data summarized by Florida HomeFinder put the median condo sale price in Palm Beach County at about $256,000, up 0.7%.
In our read, that adds up to flat prices, plenty of choices, and buyers who can take their time. That's a buyer's market for condos.
Reporting periods differ by figure: the sales counts are September figures from MIAMI REALTORS® and BeachesMLS, the latest available at publication; the inventory count is an October 29 snapshot from PBP Real Estate's analysis; and the median price is from October MLS data summarized by Florida HomeFinder. We'll update this post when October Palm Beach County sales figures are released.
Why We See Condos Lagging Behind Houses
Financing costs affect every part of the market. In our experience, condos carry extra weight that houses don't.
Florida law now requires milestone structural inspections for condominium and cooperative buildings three stories or more in height (Florida Statutes §553.899), and structural integrity reserve studies for condominium buildings three stories or more in height (Florida Statutes §718.112(2)(g)). That's good for safety. In buildings where those inspections or studies turn up needed repairs or underfunded reserves, the result can be higher monthly fees or special assessments, for things like concrete spalling on balconies, original windows, aging roofs, or elevator work that was put off.
We see buyers and their lenders paying close attention to an association's budget, reserves and planned repairs before they commit.
We're real estate agents, not attorneys or lenders. We can help you understand how these requirements show up in a sale, but what the law requires of your specific building is a question for your association's counsel or a Florida real estate attorney, and whether a unit is financeable is decided by the buyer's lender.
The effect isn't the same everywhere. A newer high-rise in downtown West Palm Beach with funded reserves is a very different sale from an older building that's still working through its inspection and reserve requirements.
Decision Gateway: Own a condo and thinking about selling in the next 12 months?
The first question isn't price. It's what your association has coming. Call us at 561-440-0777 with your building name, and we'll walk you through what buyers will see when they look at it.
Kull Group Pattern Observation: The Document-Ready Advantage
In a slow condo market, we find that buyers read the association paperwork before they negotiate the price.
In our experience, the units that move more smoothly tend to be the ones where the seller had it ready from day one: the current budget, the status of the reserve study and inspection, any planned assessments, and the building's insurance. The units that stall are often the ones where a surprise turns up mid-contract, like an assessment mentioned in last spring's board minutes.
A mid-contract surprise can cost a seller leverage in any market. With about seven months of supply, a buyer has other units to turn to, and in our experience that surprise can put the sale itself at risk.
Sell, Hold or Prepare First
We don't tell every condo owner to list, and we don't tell every owner to wait. The answer depends on your building as much as your unit.
| Your situation | What we usually recommend |
|---|---|
| Inspections done, reserves funded, assessments known | Sell. Lead with certainty in your marketing. |
| Inspection or reserve study pending, or an assessment likely | Prepare first. Get answers before buyers ask. |
| No need to move and costs are manageable | Hold, and revisit when the numbers change. |
How We See Condo Sales Go Wrong in This Market
The mistakes we see most are about approach, not effort.
Pricing from 2022 and 2023 sales. Those sales reflect an earlier market, not today's supply of about seven months. In our experience, listing above today's pending and recent sales raises the risk of price reductions later.
Listing before knowing what the association has coming. If a buyer finds out about an assessment before you've addressed it, it can weaken your position in the negotiation.
Assuming the buyer's financing will go through. If the building's finances concern a lender, a loan can fall apart late in the deal. That decision belongs to the lender, not to us, but we'd rather surface the building's documents early so there are fewer unknowns before you accept an offer.
What We're Watching Up the Corridor
We work from Palm Beach to Port St. Lucie, and the corridor adds a twist. In our work, buyers weighing an older condo sometimes look at single-family homes in Port St. Lucie instead, where no condo association is involved.
On Hutchinson Island, oceanfront condo towers three stories or more in height are subject to the same statewide inspection and reserve-study requirements as coastal buildings farther south, so knowing where the building stands matters just as much there.
What We'd Do This Month
- Ask your association for documents now: the budget, reserve study status, inspection status, and the past year of board minutes. We often find planned assessments in the minutes first.
- Add up your true monthly carrying cost: fees, insurance, taxes and any assessment payments.
- Get a pricing read from current pending and recent sales, not from what a neighbor got two years ago.
Frequently Asked Questions
Are condo prices in Palm Beach County dropping?
Not in the most recent data we've seen. October MLS data summarized by Florida HomeFinder put the median at about $256,000, up 0.7%. What has changed is supply, which in our read gives buyers more room to negotiate.
Is this like the 2010 crash?
The similarity is sales pace: NAR's October existing-home sales were the lowest since August 2010. On prices, the local data we cite shows Palm Beach County condo prices holding roughly steady.
Should I wait for mortgage rates to drop?
No one can reliably predict where rates will go or how buyers and sellers would respond. If your building is in good shape and you have a reason to move, we'd weigh the months of fees, insurance and taxes you'd pay while you wait. For rate and financing questions, a mortgage lender is the right source.
What should I know about special assessments before I sell?
Buyers will see them in the association's documents, so we recommend knowing about any approved or planned assessments before you list. Your association can confirm what's been approved.
Who should I call about selling my condo in Palm Beach County?
Call us at 561-440-0777. Bring your building name and your most recent association letter. We'll check what's pending and recently sold in your building, find out what your association has coming, and tell you plainly whether to sell, hold or prepare first. You can also start with a home value estimate.
The Kull Group powered by Keller Williams Wellington. 31+ years of real estate experience. Primary market: Palm Beach County and the Palm Beach-to-Port St. Lucie corridor.
New Button HTML
Search homes in the Seven City Snapshot: