33498
West Palm Beach, Florida

The 33498 ZIP code recorded a median sale price of $850,000 as of February 2026, marking a 15.3% year-over-year increase that outpaces most Florida markets. However, homes are taking 89.5 days to sell, indicating slower absorption than the state's 45-day average. Only 2% of properties closed above asking price, suggesting minimal bidding competition despite the double-digit appreciation. This disconnect between rising prices and extended marketing periods signals a market transitioning from momentum-driven growth to price discovery.

These conditions favor sellers who purchased before 2024 and can afford to wait three months for qualified buyers at elevated price points. Cash buyers gain negotiating leverage given the low above-list-price percentage, particularly on properties exceeding 100 days on market. Investors should proceed cautiously as the 89.5-day averageDOM increases holding costs while the 2% above-ask rate limits immediate equity capture. First-time buyers face affordability constraints with minimal room for bidding flexibility.

The PropIQ score of 55 reflects deteriorating momentum despite headline price gains, historically preceding either price corrections or extended stagnation periods. The combination of rising inventory time and weak over-ask performance suggests demand is not keeping pace with seller expectations at current valuations. Monitor monthly DOM trends and list-to-sale price ratios through Q2 2026, as further extension beyond 100 days would likely trigger increased price reductions and compress year-over-year appreciation below 10% by year-end.