Palm Beach County Condo Market Report: Prices, Inventory and the Effect of Florida's Condo Safety Laws

The Palm Beach condo market moved in two directions in August 2026. Prices rose and listings kept shrinking, yet sales slipped and units still took more than two months to go under contract. Behind those numbers sits Florida's condo safety law, which has split buyers by building age and reserve status. This report covers the latest Palm Beach County figures, what the milestone inspection and reserve rules mean in practice, and what sellers and buyers should do next.

Key takeaways

• The Palm Beach County condo and townhouse median price rose 5.26% year over year in August 2026, from $285,000 to $300,000.
• Condo sales fell 6.71% to 765, while active listings dropped 17.09% to 5,770. Inventory has now declined for seven months in a row.
• Condos took a median 69 days to reach a contract, compared with 74 a year earlier. Supply stood at 6.7 months, which Miami Realtors calls balanced.
• Cash buyers made up 57.2% of condo sales, a sign of how much financing hurdles shape this segment.
• Buildings with three or more habitable stories need milestone inspections and structural integrity reserve studies. Those reports now drive buyer demand as much as price does.

Palm Beach condo market at a glance: August 2026

Miami Realtors publishes monthly sales data for Palm Beach County. Here are the condo and townhouse figures from its August 2026 release.

• Median sale price: $300,000, up 5.26% from $285,000
• Closed sales: 765, down 6.71%
• Dollar volume: $358 million, up 3.05%
• Active listings: 5,770, down 17.09% from 6,959
• Months of supply: 6.7
• Median days to contract: 69, compared with 74 a year earlier
• Median days to sale: 108, compared with 112
• Cash share: 57.2% of condo sales

For context, the county's single-family median was $650,000 in the same month, with 40 days to contract and 3.5 months of supply. So condos remain the slower, more balanced side of the local market. Our Palm Beach housing market update covers the single-family side in more detail.

What the numbers say about the Palm Beach condo market

Three trends stand out. First, prices are rising again after a soft stretch. A 5.26% gain in the median is meaningful, though a median can shift when the mix of units that sell changes. For example, a month with more newer or waterfront units can lift the median even if older buildings are flat.

Second, supply is tightening. Active listings fell by more than 1,100 units from a year earlier. Fewer listings mean less competition for each seller. Even so, 6.7 months of supply still gives buyers time and choice.

Third, sales are down. Buyers are still active, but many are selective. They are passing on units in buildings with large assessments or unclear reserve plans, and they are paying for buildings with clean reports.

The long view

Miami Realtors notes that Palm Beach County condo prices have risen 233% since 2010, from $90,000 to $300,000. Long-term owners still hold large gains, even in older buildings. That cushion matters when a seller has to price in a special assessment.

How to read months of supply

Months of supply estimates how long the current listings would take to sell at the recent pace, with no new listings added. A low number favors sellers, and a high number favors buyers. At 6.7 months, condos sit near the middle, while single-family homes at 3.5 months lean toward sellers.

Keep in mind that the figure is countywide. A building with a pending assessment may have a year of supply on its own, while a newer building nearby has almost none. So use the county number to set expectations, then check your own building's listings and recent sales before you set a price or write an offer.

The statewide picture

Across Florida, the same release put the condo and townhouse median at $298,000, up 2.8%, on 7,291 sales, down 1.8%. Palm Beach County is running a bit ahead of the state on price and a bit behind on sales.

How Florida's condo safety laws shape the Palm Beach condo market

Starting in 2022, Florida passed new safety rules for condo buildings. Two of them now affect nearly every older building in the county.

Milestone inspections

Under section 553.899 of the Florida Statutes, condo and co-op buildings with three or more habitable stories need a milestone inspection. The first is due by December 31 of the year the building turns 30. Local officials may require it at 25 years where conditions such as proximity to salt water call for it. After that, inspections repeat every 10 years.

Phase one is a visual review by a licensed architect or engineer. If that review finds substantial structural deterioration, a phase two inspection follows with testing. The association pays for the inspection of the parts it maintains.

Structural integrity reserve studies

Buildings of three or more habitable stories also need a structural integrity reserve study, or SIRS. It covers items such as the roof, structure, fireproofing, plumbing, electrical systems, waterproofing and windows. It also sets the reserves needed to replace them. In 2025, HB 913 extended the deadline for the first study to December 31, 2025, and requires an update every 10 years.

Since December 31, 2024, associations may not waive reserve funding for the items in the study. HB 913 also lets associations fund reserves through special assessments, lines of credit or loans, subject to limits. For owners, that often means higher monthly fees, a one-time assessment or both. Our guide to HOA and condo fees explains why fees are rising and how buyers react.

Building age now splits the Palm Beach condo market

Countywide data does not break out sales by building age, and building-level numbers vary widely. Still, the law itself creates clear groups that local buyers and lenders use.

• Older mid-rise and high-rise buildings. These have reached milestone age and carry the heaviest repair and reserve costs. Buyers ask for the inspection reports, the SIRS and the budget before they write an offer.
• Newer buildings. Buildings well short of 30 years face the same rules later. Buyers see them as lower risk for now.
• Garden-style and two-story communities. Buildings under three habitable stories fall outside the milestone and SIRS rules. That can mean lower costs, though insurance and maintenance still apply.

As a result, two condos with similar size and finishes can sell at very different prices. The building's paperwork often explains the gap.

Financing limits and cash buyers

The 57.2% cash share is not an accident. Many condo loans depend on whether the building meets agency rules.

Fannie Mae, for example, treats a project as ineligible if it needs critical repairs that affect safety, soundness, structural integrity or habitability. The same applies to unfunded repairs above $10,000 per unit due within 12 months, or to a building under an evacuation order for unsafe conditions. An unresolved special assessment for a critical repair can also make a project ineligible.

When a building fails those tests, most financed buyers drop out. That leaves sellers in those buildings with cash buyers, who often expect a discount. If you own a condo, find out where your building stands before you list. Our guide on whether your condo is FHA approved walks through the lookup.

Palm Beach condo market by city

Condo stock looks different across the county, so local results vary. Within a single city you can find newer towers, older coastal buildings and low-rise communities a few miles inland. Each group faces different inspection, reserve and insurance costs.

Because of that mix, a countywide median is only a starting point. For a reliable value, your agent should pull sales from your building and from similar buildings nearby, then adjust for reserve status and assessments. If you live in West Palm Beach, Boca Raton or Delray Beach, ask for a building-level report rather than a city average.

What sellers should do now

1. Collect the building documents. Ask the association for the latest milestone inspection, SIRS, budget, insurance summary and any assessment notices.
2. Know your financing status. Find out whether conventional and FHA buyers can finance in your building.
3. Price against your building. Use recent sales in the same building or in buildings with similar reserve status.
4. Plan for assessments. Decide whether you will pay an approved assessment at closing or offer a credit.
5. Prepare for questions. Buyers will ask about fees, reserves and repairs. Clear answers help your unit stand out.

What buyers should do now

With 6.7 months of supply, buyers have room to be careful. Read the milestone inspection and the SIRS before you commit. Compare the reserve schedule with the current budget. Ask whether any assessment is pending or under discussion. Also, check with your lender early about the building's eligibility. A unit that looks cheap may carry costs the price does not show.

Frequently asked questions

Is the Palm Beach condo market a buyer's market?

With 6.7 months of supply in August 2026, Miami Realtors describes the condo segment as balanced. Buyers have choices, but prices rose year over year.

What is the median condo price in Palm Beach County?

In August 2026, the median condo and townhouse price was $300,000, up 5.26% from $285,000 a year earlier.

Which buildings need a milestone inspection?

Condo and co-op buildings with three or more habitable stories, by December 31 of the year they turn 30. Local officials can require it at 25 years in some coastal areas.

Why are so many condo sales cash deals?

Many buildings face repair or reserve issues that limit loan options. In August 2026, cash buyers made up 57.2% of county condo sales.

Sources

• Miami Realtors, Palm Beach County August 2026 market report
• Florida Statutes, section 553.899 (milestone inspections)
• Florida House of Representatives, Final bill analysis for CS/CS/HB 913 (2025)
• Florida Statutes, section 718.112 (condominium bylaws and reserves)
• Fannie Mae Selling Guide, Ineligible projects

This article is general information, not legal, tax or financial advice. Condo rules and loan guidelines change, so check with an attorney, lender or your association for your building's status.

Own a condo in Palm Beach County? We will price your unit against your own building, review the reserve and inspection reports, and show you what buyers will ask. Get a free Pure Equity home value report or book a listing consultation. Buying instead? Talk to a buyer's agent about shortlisting buildings with clean reports.