Downtown West Palm Beach Condo Market Report — September 2026

Downtown West Palm Beach just posted its two slowest months of resale closings in a year, back to back. September closed 17 resale condos and August finished at 16. The same month a year ago closed 25. At the same time, 112 resale listings are active — 4.6 months of supply — and that figure is close to meaningless as a single number, because supply is three to four months under $2M, about eight months from $2M to $5M, and fifteen months above $5M.

This report pulls the resale market and the developer pipeline together, using BeachesMLS data exported October 2, 2026.

First, a Correction to Last Month

Last month's report said August's 15-closing count was a floor that would likely revise up toward the high 20s once late entries posted. It did not. August stands at 16 today, and September came in at 17. The late-posting catch-up we expected was worth one sale, not twelve. The honest read is that the two most recent months are genuinely the slowest of the past twelve, and the trend table below should be read that way.

One other thing changed this month, and it matters for anyone comparing editions. Resale figures now exclude nine developer-controlled buildings rather than four, cover the downtown core east of I-95, and correct several building assignments — Flagler Pointe, Norton Park Place, Viking Arms and La Fontana are now reported under their own names, and Forté on Flagler, delivered in 2025, is counted as resale. Every month-over-month and year-over-year comparison in this edition was recalculated on the same basis. Nothing here will match the August edition line for line, and that is deliberate: the new basis is the one we will carry forward.

September's Headline Numbers

The median September sale closed at $540,000 and $504 per square foot, with a median of 25 days on market and a 94.0% sale-to-list ratio. Month over month that is an 11.1% drop in median price and a 16.2% drop in price per square foot. Year over year, median price is down 4.4% and price per square foot is up 3.5%.

Hold those monthly swings loosely. With 17 sales, one month's median moves with whichever buildings happened to close — the twelve-month median is $645,000 at $544 per square foot, and that is the number to anchor on. The figure that is not a small-sample artifact is the sale-to-list ratio: the median September seller closed at 94.0% of the last list price, against 95.0% over the trailing twelve months. Sellers are giving up about 6% to get a deal done, and that concession widened slightly this month.

Supply Is 4.6 Months — and That Number Hides the Market

Active resale inventory stood at 112 listings on October 2, little changed from 116 on September 1. Against a twelve-month sales pace of about 24.5 closings a month, that is 4.6 months of supply. Here is how it breaks down by tier, using each tier's own sales pace:

Under $1M — 70 listings, 4.0 months. Median ask $544,500 at $507 per square foot, sitting a median 102 days. This tier is 72% of all closings and 62% of all listings; it clears.

$1M–$2M — 14 listings, 3.3 months. Median ask $1,287,500 at $880 per square foot. The tightest tier in the market, and the one where a well-prepared listing has the least competition.

$2M–$3M — 7 listings, 8.4 months. Median ask $2,300,000. Seven listings against ten sales a year.

$3M–$5M — 6 listings, 8.0 months. Median ask $3,972,500, sitting a median 167 days.

$5M+ — 15 listings, 15.0 months. Median ask $10,900,000 at $2,457 per square foot, sitting a median 287 days. Nine of the fifteen are in one building, Forté on Flagler.

Two cautions on the top three tiers. Each rests on roughly ten sales a year, so one or two listings move the supply figure sharply. And the $5M+ tier is not really a fifteen-listing market — it is a six-listing market plus one building's remaining inventory. Strip Forté out and the picture above $5M is closer to the $3M–$5M tier: a handful of large units waiting for a handful of buyers.

That tier also shows the widest gap between what is asked and what closes. The twelve-month closed median above $5M is $6,500,000 at $2,047 per square foot. The current asking median is $10,900,000 at $2,457 per square foot. Unlike last month, that is not only a mix of larger units — the per-foot gap is now 20%, and 287 median days on market says the market has noticed.

The Pipeline Is Mostly New Construction

62 units are under contract downtown. 40 of them are in developer buildings. Only 22 are resale, and 12 of those went under contract in September.

That resale pending count is the best leading indicator in this report, and it says October will look a lot like September. Twelve new contracts in a month, against a twelve-month closing average of about 24, is not the pace that produces a rebound. The seasonal low is not over yet.

The developer side tells a different story. The Ritz-Carlton Residences has 20 units under contract against 3 active listings. Olara has 13 under contract against 11 active. Those two buildings alone account for more contracts than the entire resale market has pending. Buyers at the top of the market are choosing new over resale, and they are doing it at asking prices per square foot — $1,501 at Olara, $2,897 at the Ritz — that sit well above what any resale building closes at.

Resale Market by Price Tier

Trailing 12 months (October 2025–September 2026), 294 resale closings break down as follows:

Under $1M — 212 closings, 72.1% of the market. Median sale price $525,000 at $476 per square foot, 61 days on market.

$1M–$2M — 51 closings, 17.3% of the market. Median sale price $1,345,000 at $847 per square foot, 49 days on market — the fastest-moving tier.

$2M–$3M — 10 closings, 3.4% of the market. Median sale price $2,450,000 at $1,099 per square foot, 51 days.

$3M–$5M — 9 closings, 3.1% of the market. Median sale price $3,600,000 at $1,698 per square foot, 74 days.

$5M+ — 12 closings, 4.1% of the market. Median sale price $6,500,000 at $2,047 per square foot, 104 days.

Across all tiers: 294 closings, a $645,000 median at $544 per square foot, 61 days on market.

The Twelve-Month Trend

Monthly closings across the period ran 18, 19, 26, 28, 23, 31, 30, 29, 29, 28, 16, and 17. The market held between 28 and 31 closings a month from March through July, then fell by almost half in August and stayed there in September.

The median price per square foot swung between $475 in November 2025 and $678 in January 2026 before finishing the period at $504 in September. Monthly medians rest on 16 to 31 sales and move with the mix of buildings that closed, which is why the twelve-month figure of $544 is the one worth quoting.

Last month's edition called December the real test — whether the listings that were withdrawn over the summer come back, and at what price. That test has not started yet. Inventory went from 116 to 112 in September, which is neither the relist wave nor a tightening. Expect the first wave of returning listings in November and December, and read any jump in active count then as supply that was already here in July.

Building Performance — Trailing 18 Months

Two City Plaza leads all buildings with 52 closings at a $915,000 median and $680 per square foot, and a median 12 days on market — the fastest in the top 12 by a wide margin. It has 3 active listings and 1 under contract. CityPlace South Tower follows with 41 closings ($800,000, $636 per square foot, 81 days), then One City Plaza at 30 ($690,000, $507 per square foot, 75 days).

Flagler Pointe appears in the top 12 for the first time under its own name, with 22 closings at a $470,000 median and $439 per square foot, 53 days on market, and only 2 active listings. 610 Clematis also posted 22, at $420,000 and $365 per square foot — the most accessible entry point in the group — with 4 active and 3 under contract.

Courtyards in CityPlace closed 21 ($460,000, $433 per square foot) but carries 8 active listings and a 108-day median — the most inventory relative to its sales pace of any building in the top 12. The Edge closed 20 ($469,375, $424 per square foot, 63 days).

Three buildings tied at 17 closings, and they could not be more different: Plaza of the Palm Beaches at a $1,800,000 median and $778 per square foot — the highest per-foot figure in the top 12 — against 92 days on market; Rapallo South at $690,000 and $595 per square foot in 58 days; and The Prado at $515,000 and $459 per square foot in 29 days, with 2 active listings. The Prado remains the clearest seller's window in the under-$1M market.

Rounding out the top 12: City Palms with 12 closings ($562,500, $530 per square foot, 110 days) and Palm Beach House with 11 ($435,000, $370 per square foot, 81 days, 6 active).

The full scorecard — every building, with median days on market and current active and under-contract counts — is in the downloadable PDF and in the data tables below.

Developer Inventory — New Construction

Nine buildings now sell mostly through direct developer contracts that never reach the MLS, and all nine are excluded from every resale figure above. What the MLS does show for them — units offered, asking prices, and contracts recorded — is reported here. Across the nine: 49 active listings, 40 under contract, 9 closings in the past twelve months.

Olara (2028) — 11 active, 13 under contract, asking $2.4M to $9.0M at a $1,501 median per square foot. More contracts than listings.

Ritz-Carlton Residences (2028) — 3 active, 20 under contract, asking $8.4M to $14.5M at $2,897 per square foot. The deepest contract book downtown.

South Flagler House (2027) — 7 active, 5 under contract, asking $8.6M to $70.0M at $4,388 per square foot.

The Berkeley (2028) — 8 active, asking $2.8M to $12.8M at $1,850 per square foot. No MLS contracts yet.

Alba Palm Beach (2026) — 6 active, asking $2.5M to $9.9M at $2,131 per square foot. Alba is the only building of the nine with MLS closings — 9 in the past twelve months — which makes it the single best read on where a new downtown building actually prices when units close.

Banyan Tree Residences (2029) — 6 active, asking $1.7M to $7.2M at $1,943 per square foot.

Mr. C Residences (2027–28) — 3 active, 2 under contract, asking $3.9M to $11.9M at $2,662 per square foot.

Mandarin Oriental Residences (2030) — 3 active, asking $3.8M to $8.1M at $1,926 per square foot.

Shorecrest (2028) — 2 active, asking $5.4M to $7.2M at $2,617 per square foot.

Nora House (117 units, 2029) sells entirely outside the MLS and does not appear in the table at all. For unit-level availability, incentive structures, and closing timelines at any of these buildings, the sales office will always have more current information than MLS coverage of pre-construction inventory, which is partial by design. For buyers considering pre-construction, the typical deposit structure (roughly 10% at reservation, 10% at groundbreaking, 10% at top-off) requires liquidity planning well before closing. Our financing guide covers how construction-to-permanent financing works at delivery.

If You're Buying This Fall

Under $2M, do not expect the slow months to translate into deep discounts. Supply is three to four months, the $1M–$2M tier is the tightest in the market, and the median seller is conceding about 6% — that is the going rate, not a starting point for 15% off. What the slow season does buy you is time: a 61-day median on market means well-priced units are not vanishing in a weekend, and a unit that has been sitting past 100 days has a seller who has already watched two price cuts not work.

Above $2M, the leverage shifts. Eight months of supply at $2M–$5M and a 20% per-foot gap between asking and closing above $5M mean the number on the listing is an opening position. Pull the closed comps in the building before you anchor on the ask — we can send them.

The caution from last month stands: anything that comes to market in November or December looking brand new may be a summer withdrawal returning with its days-on-market clock reset. We can pull the full listing history, including prior list dates, prior prices, and every reduction. Ask before you make an offer.

For Sellers: What's Working Right Now

The buildings that are clearing fastest right now share one trait — pricing that matches what closes. Two City Plaza at 12 days and The Prado at 29 days are not seeing faster buyers; they are seeing sellers who priced to the building's closed comps rather than to the top of the active range. The buildings where listings sit — Courtyards at 108 days, City Palms at 110 — are the ones where the asking medians have drifted above the closed medians.

The 94.0% sale-to-list ratio is the number to internalize. The median seller who closed in September gave up 6% from the last list price — and "last" list price means the one after the reductions. Pricing at the closed comp from day one costs less than listing high, cutting twice, and then conceding 6% off the cut.

If you are planning to list for season, the competition is not just the genuinely new listings. It is every unit that was withdrawn this summer and comes back in December with the preparation already done. Being on the market a few weeks ahead of that wave matters more than a fresh listing date. Our guide to preparing your WPB condo for sale covers what to do before you list; the short version is that documentation — HOA financials, reserve study, milestone inspection status — now closes deals that photography alone does not.

Outlook

Three things to watch in October's report. First, whether the resale pending count moves off 22 — twelve new contracts a month is a market still at its seasonal floor, and the first sign of a turn will show up in contracts before it shows up in closings. Second, how much of the summer's withdrawn inventory returns in November and December, and at what price. Third, the Ritz-Carlton and Olara contract counts, which are now the clearest signal of where buyers above $2M are actually spending.

The twelve-month figures — $645,000 median, $544 per square foot, 61 days on market, 95% of last list — are the ones to plan around. Two slow months do not change them. Four would.

For building-specific data, recent comparable sales, or a valuation on your current unit, contact the DO Homes Group team directly. We track every closing across all 42+ buildings we cover, and the answers to your specific questions are almost always different from the market-level averages.

Written by Christine Dekant, REALTOR® · DO Homes Group at Premier Brokers International — RENE, GRI, CLA, CPRES, REDM, C2EX certified.