Insights from Deborah Elbaum, Realtor – Your Palm Beaches Real Estate Expert

The Florida housing market—especially here in the Palm Beaches—is going through a much-needed reality check after several years of record-breaking highs. During the pandemic, our region saw an unprecedented influx of buyers from New York, California, and other high-cost states seeking space, sunshine, and tax advantages. From 2020 to mid-2022, prices across Florida soared more than 50%, and Palm Beach County became one of the hottest luxury real estate destinations in the country.

But today, the market is evolving. According to housing data from Compass and Altos Research, inventory is down across Florida for the first time in over two years—not because of soaring demand, but because of a wave of delistings and fewer new listings. Many homeowners are holding back, choosing not to sell in a market where prices have dipped about 5% year over year, according to Zillow.

Here in the Palm Beaches, Deborah Elbaum, Realtor, notes that sellers are becoming more attuned to market realities. “We’re seeing a natural correction,” she explains. “Sellers who don’t need to move are waiting things out, while serious buyers are stepping in to take advantage of more realistic pricing and motivated sellers.”

Recent data shows that for every 100 new listings in parts of Florida, as many as 60 homes are being delisted. While major metros like Miami and Tampa lead those numbers, the trend extends across Palm Beach County too, particularly in mid- to high-end neighborhoods where homeowners can afford to wait for the right offer.

“The Palm Beaches market is finding its equilibrium,” Deborah adds. “It’s not a crash—it’s a reset. We’re moving away from the frenzy of bidding wars and cash offers into a market where negotiation, preparation, and pricing strategy truly matter again.”

For buyers, that means opportunity—better prices, more flexible terms, and less competition. For sellers, it means adjusting expectations and partnering with a local expert who understands the nuances of today’s market.

As Deborah puts it: “This is the time for strategic moves, not emotional ones. Whether you’re buying or selling in the Palm Beaches, understanding this new balance is key to making the right decision.”