P
alm Beach County's real estate landscape is shifting gears, with a surge in new listings and contracts that defies the conventional wisdom about interest rates. According to the latest Elliman Report from Miller Samuel Real Estate Appraisers and Consultants, the county's housing market is experiencing a significant uptick.

    In Boca Raton and surrounding areas, buyers and sellers are adapting to the reality that interest rates may not be moving anytime soon, but people still are. The report highlights a notable increase in new contracts for single-family homes across all price points.

    Notably, newly signed contracts for homes valued under $300,000 jumped 42.9% year-over-year, while those between $400k and $499k saw a 65.6% surge. Homes valued between $400k and $999k also experienced a significant increase of 35.2%. Meanwhile, luxury properties are seeing remarkable growth, with a 157.1% spike in contracts for homes valued between $5M and $9.99M and a staggering 333.3% jump for those above $10M.

    New listings are also on the rise, with every category experiencing an increase. Homes under $300k saw a 58.3% boost, while those between $400k and $499k jumped 51.4%. Luxury properties, too, are seeing significant gains, with a 109.3% increase in new listings for homes valued between $3M and $4.99M.

    The overall numbers paint a picture of a thriving real estate market in Palm Beach County. With 398 newly signed contracts in January 2025 compared to 282 in January 2024, the county saw a 41.1% increase. New listings also skyrocketed, reaching 1,603 in January 2025 versus 1,058 in January 2024 – a 51.5% jump.