Post-Election Market Momentum: What West Palm Beach Buyers and Sellers Need to Know

Now that we're past the November election, I'm seeing that momentum return to the West Palm Beach market.

Statewide in Florida, new pending sales jumped almost 10% year over year. This has been the strongest activity since 2021, which tells me that buyers who were waiting for clarity are now making their moves.

What's Changed in Palm Beach County

Inventory is rising, and homes are staying on the market longer. We're typically seeing 46 to 50 days on market now, compared to the 30 to 36 days we saw earlier. For buyers, this means more options and more negotiating power. You can actually take your time and compare properties without feeling rushed into a decision.

For sellers, this means pricing correctly is more important than ever. You're not going to get the multiple offers that were common in 2021. But if you price ahead of where the market is going and show your home well, properties are still moving.

The Interest Rate Shift

One thing I've noticed is that buyers are getting more comfortable with 6% interest rates. A few months ago, everyone was fixated on rates. Now, people are asking different questions: Is this within my budget? Is this somewhere I want to be long term? Can I find a move-in ready property?

That shift in mindset is healthy. It means buyers are focused on what actually matters for their situation rather than trying to time the market perfectly.

Opportunities Beyond West Palm Beach

I'm seeing strong opportunities in Port St. Lucie for first-time buyers and investors. Inventory has increased there too, which means more options. Sellers are offering incentives, and some builders are offering interest rates as low as 3.99% and paying closing costs for brand new homes.

If you're rate-sensitive and looking for an affordable single-family home with future growth potential, that's worth exploring.

The New York Factor

Here's something interesting: I'm getting more inquiries from New York and New Jersey than I have in a while. People are asking about homestead exemptions and the benefits of moving to Florida.

Historically, whenever something major happens in New York, we see an influx of buyers moving to Florida. We saw it in 2018 after the salt tax cap. We saw it during the pandemic. I believe we're going to see another wave.

South Florida is still attracting out-of-state migration, and that population growth supports the market even when other factors are uncertain.

My Advice for November and Beyond

November is typically one of the best months to buy or sell in Florida. The weather is better, so more people are coming down to look at properties. End-of-year buyers who want to take advantage of tax benefits are active now.

For sellers: prep your house, make sure it shows well, and price it realistically. We offer pre-listing inspections to identify any issues before buyers do.

For buyers: take your time, shop around, and negotiate. When you see a price listed, that doesn't mean it's fixed. We look at the comps and assess the seller's motivation to help you make a strong offer.

The market has stabilized, and that's good news for everyone. It means we're back to a place where education and strategy matter more than just hoping for the best in a frenzy.

Loodmy Jacques from The Jacques Team has worked in South Florida real estate for 17 years, specializing in Palm Beach County and surrounding areas.