33405
West Palm Beach, Florida

West Palm Beach ZIP 33405 shows extreme price acceleration with a median sale price of $1,178,500, up 42.0% year-over-year as of February 2026. Properties are moving at a measured pace with an average 60 days on market, while only 4% of homes sell above asking price—a figure that suggests upward pressure has cooled from prior peaks. The million-dollar-plus price point combined with decelerated bidding wars indicates this market has transitioned from frenzy to selective premium pricing.

Sellers who purchased before 2024 benefit most from current conditions, capturing substantial equity gains from the 42% annual appreciation. The 60-day absorption rate and minimal above-ask sales favor patient sellers willing to price accurately rather than chase speculative premiums. Buyers face limited competition with only 4% bidding wars, creating negotiating leverage absent in overheated markets, though financing six-figure down payments at these price levels restricts the pool to high-net-worth purchasers.

The PropIQ score of 55 signals caution, suggesting this appreciation rate is unsustainable and vulnerable to correction. With prices rising faster than regional income growth can support at the $1.2 million threshold, watch for inventory accumulation and extended days on market as leading indicators of normalization. The data points toward price stabilization or potential contraction rather than continued 40%+ gains, particularly if mortgage rates remain elevated through 2026.