Palm Beach Price History: The 2000s Boom, the 2008 Bust and the Pandemic Run-Up

Palm Beach price history over the last 25 years has three clear chapters: a fast run-up in the early 2000s, a deep fall after 2006, and a long climb that sped up during the pandemic. Knowing those swings helps owners judge where today's market sits. This guide uses the Federal Housing Finance Agency's county home price index, plus local Realtor and housing research data, to walk through each cycle in Palm Beach County and nearby St. Lucie County.

Key takeaways

• FHFA's index for Palm Beach County rose about 148 percent from 2000 to its 2006 peak.
• By 2012, the index had fallen about 49 percent from that peak. St. Lucie County fell about 57 percent over the same stretch.
• From 2019 to 2023, the Palm Beach County index rose about 67 percent, and St. Lucie's rose about 69 percent.
• Growth then slowed sharply. From 2024 to 2025, the county index rose about 1 percent, and St. Lucie's dipped slightly.
• In August 2026, the county's single-family median was $650,000 and the condo and townhouse median was $300,000, according to Miami Realtors.

How we measured Palm Beach price history

Median sale prices are easy to read, but they jump around based on which homes sell in a given month. So this guide leans on the FHFA All-Transactions House Price Index for each county, published through the St. Louis Fed's FRED database. It tracks value changes on repeat sales of the same homes, with the year 2000 set at 100.

The index does not give a dollar price. Instead, it shows how much values moved. We add dollar figures from two other sources: the University of Florida's Shimberg Center, which analyzed Florida Department of Revenue sales files, and Miami Realtors' monthly reports for recent months.

All percent changes below are our own math from the published annual index values. Because these are annual figures, monthly peaks and lows were likely a bit sharper.

The 2000s boom: 2000 to 2006

From 2000 to 2006, the Palm Beach County index climbed from 100 to about 248. That is a gain of about 148 percent in six years. The biggest single jump came between 2004 and 2005, when the index rose about 31 percent.

St. Lucie County rose slightly more over the full stretch. Its index went from 100 in 2000 to about 254 in 2006, a gain of about 154 percent.

Easy credit was a big part of the story nationally, along with heavy building and investor buying. Florida felt it strongly. The Shimberg Center found that Palm Beach County's median single-family price peaked during the boom at $558,000 in inflation-adjusted 2022 dollars. That compared with $365,000 statewide.

The bust in Palm Beach price history: 2006 to 2012

Then the market turned. The county index slid every year from 2006 to 2012, reaching about 127. That is roughly a 49 percent drop from the peak. In other words, the typical home gave back nearly all of its boom-era gain.

St. Lucie County fell harder. Its index dropped from about 254 in 2006 to about 108 in 2012, a decline of about 57 percent.

Still, Palm Beach County kept a premium. The Shimberg Center noted that even at its lowest point, the county median stayed well above the state median.

For many owners, the bust is the main lesson. Values can fall for years, and recovery can take a long time. A household that bought at the 2006 peak in Palm Beach County did not see the index pass that level again until 2020.

The slow recovery: 2012 to 2019

After 2012, prices recovered steadily. The county index rose from about 127 in 2012 to about 238 in 2019, a gain of about 87 percent. St. Lucie climbed from about 108 to about 230 over the same years.

This stretch felt calm compared with the boom. Gains came year after year, but without the wild jumps of 2004 and 2005. By 2019, the county was close to its old peak but not quite there.

The pandemic run-up: 2020 to 2023

Next came the fastest climb since the boom. The county index rose from about 251 in 2020 to about 360 in 2022, a jump of roughly 44 percent in two years. Measured from 2019 to 2023, the gain was about 67 percent. St. Lucie's index rose about 69 percent from 2019 to 2023.

Low mortgage rates, remote work and strong demand from buyers moving to South Florida all played a role. The Shimberg Center found that the county's median single-family price reached $600,000 in the first half of 2022, above the boom-era peak even after adjusting for inflation.

The cooldown: 2024 to 2026

After 2023, growth slowed. The county index rose about 6 percent from 2023 to 2024, then only about 1 percent from 2024 to 2025. St. Lucie's index edged down slightly from 2024 to 2025.

Several local forces were at work. Mortgage rates rose from their pandemic lows. Insurance costs climbed across Florida. And condo owners faced new costs after the state passed the Building Safety law, SB 4-D, in May 2022. It requires milestone inspections and structural integrity reserve studies for many condo buildings.

Recent data shows two markets moving at different speeds. In August 2026, Miami Realtors reported a single-family median of $650,000, with 40 median days to contract and 3.5 months of supply. Condos and townhouses had a $300,000 median, 69 days to contract and 6.7 months of supply. For more detail, see our Palm Beach housing market update.

Palm Beach price history at a glance

Here are the FHFA annual index values for Palm Beach County, with 2000 set at 100. They make the three cycles easy to see.

• 2000: 100
• 2006 (boom peak): about 248
• 2012 (bottom): about 127
• 2019: about 238
• 2022: about 360
• 2025: about 428

For St. Lucie County, the same index read about 254 in 2006, about 108 in 2012, about 388 in 2023 and about 397 in 2025.

Index versus median price

You may see different numbers in news stories, and that is normal. A median price is the middle sale in a given month. So if more large homes sell one month, the median rises even if no single home gained value.

By contrast, a repeat-sales index compares the same homes over time. That makes it better for judging how values moved, but it will not tell you what a home is worth in dollars. For that, you still need recent comparable sales. Using both together gives a clearer picture than either one alone.

What Palm Beach price history means for sellers today

History does not predict next year. But it offers a few useful points.

• Long holds have paid off. Even after the bust, the 2025 county index sat about 72 percent above the 2006 peak.
• Timing within a cycle matters. Owners who bought near 2006 waited many years to recover. Owners who bought around 2012 saw large gains.
• Single-family and condo markets can split. Today's supply numbers show condos sitting much longer than houses.
• Slow growth is not the same as a crash. The 2024 to 2025 change was small, not a steep drop like 2007 to 2009.

So rather than trying to call the top, most sellers do better by pricing from today's closed sales and the current supply in their price range.

Port St. Lucie and the price history of the Treasure Coast

St. Lucie County's index shows bigger swings in both directions. It rose slightly more over the boom, fell more in the bust, and gained a bit more in the pandemic run-up. Then it flattened slightly from 2024 to 2025.

Bigger swings mean timing and pricing matter even more there. If you own in Port St. Lucie, compare your home with nearby resales and with builders' current pricing, since new homes compete directly with resales there.

How to look up your own home's Palm Beach price history

You can see what your home sold for in the past using public records.

1. Go to the Palm Beach County Property Appraiser's website and search by address or parcel number.
2. Open your parcel record and look at the sales section, which lists recorded sales.
3. Use the Advanced Sales Search or Nearby Sales Search to see recent sales around you.
4. In Port St. Lucie or elsewhere in St. Lucie County, use the St. Lucie County Property Appraiser's site.

Keep in mind that a past sale price is not today's value. Homes change, and so does the market. Our guide on finding houses sold near me shows how to read recent sales.

Frequently asked questions

When did Palm Beach County home prices peak before the crash?

The FHFA annual index for the county peaked in 2006 and then fell each year through 2012.

How much did prices fall in the 2008 bust?

Based on the FHFA annual index, Palm Beach County fell about 49 percent from 2006 to 2012. St. Lucie County fell about 57 percent.

Are prices higher now than at the 2006 peak?

Yes. The county's 2025 index was about 72 percent above its 2006 level, and the Shimberg Center found the 2022 median topped the boom peak even after inflation.

Where can I find my home's Palm Beach price history?

Search your address on the Palm Beach County Property Appraiser's website and check the sales section of your parcel record.

Did St. Lucie County recover from the bust too?

Yes. The St. Lucie County index fell to about 108 in 2012, then climbed to about 397 by 2025. That left it about 56 percent above its 2006 level, although it dipped slightly from 2024 to 2025. Because the county swung harder in both directions, local timing and pricing deserve extra care.

Sources

• FRED, FHFA All-Transactions House Price Index for Palm Beach County, FL
• FRED, FHFA All-Transactions House Price Index for St. Lucie County, FL
• Shimberg Center for Housing Studies, Palm Beach County Housing Trends (March 2023)
• Miami Realtors, Palm Beach County August 2026 home sales
• The Florida Senate, SB 4-D Building Safety (2022)
• Palm Beach County Property Appraiser

Wondering where your home fits in the current market? We will compare your home with recent closed sales and current supply. Get a free Pure Equity home value report or book a listing consultation. Buying instead? Talk to our team about prices in the neighborhoods you like.