Where Mortgage Rates Actually Stand
You may have seen early-July headlines about rates hitting a seven-week low. That moment has passed. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.58% for the week of July 23, 2026 — a third straight weekly increase, up from 6.55% last week and 6.43% at the start of the month. For perspective, it's still below the 6.74% averaged a year ago. The 15-year fixed averaged 5.96%.
Rates have been drifting inside a narrow band since spring, and week-to-week moves are small. The more useful question isn't where rates are headed — it's what you're actually buying, because Palm Beach County isn't behaving like one market right now.
The June 2026 Numbers: Two Markets, One County
Here's what the official county report — released July 17 by MIAMI REALTORS® and BeachesMLS — shows for June 2026:
| Indicator | Single-family homes | Existing condos |
|---|---|---|
| Median sale price | $700,000 (up 11.8% from $626,000) | $325,000 (up 3.2% from $315,000) |
| Months' supply | 3.9 months — seller's market | 7.2 months — balanced market |
| Active inventory | Down 23.6% (6,259 → 4,782) | Down 19.0% (7,670 → 6,216) |
| Median days to contract | 42 days (flat vs. last year) | 68 days (up from 61) |
| Median days to completed sale | 89 days | 107 days |
| % of original list price received | 95% | 93% |
| Cash sales | 43.5% of transactions | 58.7% of transactions |
A few things worth pulling out of that table.
Inventory is shrinking, not growing. Total active listings countywide fell 21% year over year, from 13,929 to 10,998. That runs directly counter to the "buyers finally have selection" narrative you'll see in a lot of mid-2026 market posts. Sales, meanwhile, rose 22.3% year over year — the tenth consecutive month of year-over-year gains. Fewer homes, more buyers.
The luxury tier is doing the heavy lifting. Sales of $1 million and above jumped 57% year over year. That matters when you're reading market statistics: because Palm Beach County contains one of the world's top ultra-luxury markets, average prices get pulled dramatically upward by a handful of eight-figure sales. Always look at the median — the midpoint, where half sold for more and half for less. It's a far more honest picture of what you'll actually encounter.
Nearly half of all buyers are paying cash. Cash accounted for 49.5% of closed sales countywide, versus roughly 25% nationally. If you're financing, you're often competing against buyers with no appraisal and no loan contingency. That's not a reason to give up — it's a reason to have your pre-approval, timelines, and terms genuinely tight before you write.
At 6.58% with 20% down, the $700,000 single-family median works out to roughly $3,570/month in principal and interest. The $325,000 condo median lands near $1,660/month. Neither number includes property taxes, insurance, HOA dues, or CDD assessments — and in Florida, those can shift your real monthly cost substantially. Illustration only; your figures depend on price, down payment, credit, and lender.
The Condo Story — and the August 3 Change
The condo market is where buyers have genuine leverage right now: more supply, longer days on market, and prices essentially flat in real terms. But that leverage exists for a reason, and the reason is financing.
Two things every Palm Beach County condo buyer should have on their radar:
- FHA approval is rare. Of the 2,397 condo buildings across Miami-Dade, Broward, and Palm Beach counties, only 21 are approved for FHA loans — under 1%. If you were planning on an FHA loan for a condo here, the building has to be on that list, and most aren't.
- The rules tighten August 3, 2026. Fannie Mae and Freddie Mac are eliminating the limited review option for many condo loans as of that date, meaning more buildings will face full project review — reserves, budgets, litigation, deferred maintenance. The long-term effect should be a more transparent and financially sounder lending environment. The short-term effect is that some buildings will get harder to finance.
With any condo — on Singer Island or anywhere else — find out early whether the building is warrantable, how its reserves are funded, and whether a special assessment is pending or likely. These are answerable questions, and the answers determine which loan products you can even use. Finding out after you're under contract is the expensive version. This is the single most common place I see Palm Beach County condo deals fall apart.
Down Payment Help Just Reopened: Hometown Heroes
Timing matters here. Florida's Hometown Heroes down payment assistance program relaunched on July 13, 2026 with a fresh $50 million round after its previous funding was exhausted. For qualifying first-time buyers, it's one of the most useful programs in the state right now:
- How much: 5% of your first mortgage amount, from a $10,000 minimum up to a $35,000 maximum, toward down payment and closing costs.
- The structure: a 0% interest, deferred second mortgage — no monthly payment, repaid when you sell, refinance, or move. It's a loan, not a grant.
- Who qualifies: income-eligible Florida frontline workers — healthcare, K–12 school staff, first responders, law enforcement, childcare, military and veterans. Eligibility turns on who employs you and where you work, not your job title.
- The catch: first-come, first-served, and expected to last only a matter of months. When the round is spoken for, the program pauses until the next one.
There is no fee to apply for Hometown Heroes. Anyone charging an upfront fee for "access" to the program is running a scam. Work with a participating lender and get pre-approved early so you're positioned before funds run out. County income and purchase-price limits apply and differ across South Florida — your lender can confirm the exact figures for where you're buying.
Where Buyers Are Looking in North Palm Beach County
Palm Beach County isn't one market — it's a string of distinct communities, each with its own price points, school zones, and lifestyle. This is the corridor I know street by street, and where I spend most of my time with buyers:
Jupiter
Beaches, boating, and small-town charm with big-town amenities — which is why it tops so many relocation short lists. Living in Jupiter guide →
Palm Beach Gardens & Avenir
Golf-course living, PGA Boulevard dining, and top-rated schools — plus Avenir, the master-planned community reshaping the western Gardens with new construction and resort amenities. PBG guide → · Avenir guide →
Juno Beach
A quiet oceanfront enclave with pristine beaches, the famous pier, and a laid-back coastal pace. Living in Juno Beach guide →
North Palm Beach
Waterfront neighborhoods, a village feel, and quick access to everything North County offers. Living in North Palm Beach guide →
Singer Island
Condo towers on the sand and true island living minutes from the mainland — the part of the county where the financing questions above matter most. Living in Singer Island guide →
With resale inventory this tight, more buyers are turning to new construction in Avenir, Alton, and the PGA corridor — often with builder incentives like rate buydowns and closing-cost help. Before you tour a model, have your own agent register you on that first visit. The friendly rep at the sales center works for the builder. Having your own REALTOR® in place — usually at no additional cost to you — means someone is representing your interests through pricing, upgrades, and contract terms.
The Relocation Angle: What Out-of-State Buyers Miss
If you're moving to Palm Beach County from out of state, the number that decides your budget usually isn't the list price. It's the carrying costs stacked underneath it:
- CDD fees. Many newer, master-planned communities carry a Community Development District assessment on top of property taxes. It funds the roads and amenities that make the community attractive — and it's frequently not obvious in the listing. Always ask for the labeled CDD figure before you get attached to a price.
- Insurance. Florida homeowners insurance can move the monthly number meaningfully. Get a real quote early, especially for older homes or anything near the water.
- Condo carrying costs. HOA dues, reserve funding, and the possibility of a special assessment all shape the true cost of ownership — on top of the financing questions covered above.
Florida's proposed homestead exemption amendment goes to voters on November 3, 2026, and it carries a residency deadline that matters for anyone moving here. If it passes, establishing Florida residency before January 1, 2027 locks in the full benefit from day one — later arrivals face a phase-in. If a move is on your radar, the timing is worth understanding now. Read the full breakdown of the 2026 property tax amendment →
Buying or Selling an Inherited Property?
Not every real estate question in this county is a straightforward purchase. Inherited and probate properties come with their own timelines, court requirements, and paperwork — and they're easy to mishandle. It's worth noting that with nearly half of Palm Beach County buyers paying cash, estates selling a property as-is often have more workable options than families expect.
Before real estate, I worked as a paralegal, and I'm a Florida Bar Registered Paralegal. That legal fluency means I coordinate directly with your attorney, keep documentation clean and court-aware, and don't leave you guessing about the real estate side. (I don't give legal advice — that stays with your counsel.) If an estate is part of your picture, start with the inherited-home resources. Attorneys can see how I work as a referral partner on the For Attorneys page.
Frequently Asked Questions
What is the median home price in Palm Beach County in 2026?
In June 2026, the single-family median was $700,000, up 11.8% year over year. The existing condo median was $325,000, up 3.2%.
Is Palm Beach County a buyer's or seller's market?
It depends on property type. Single-family is a seller's market at 3.9 months of supply with inventory down 23.6%. Condos are balanced at 7.2 months, with more room to negotiate.
How long do homes take to sell here?
In June 2026, the median time from listing to contract was 42 days for single-family homes and 68 days for condos. Median time to completed sale was 89 and 107 days respectively.
What are mortgage rates right now?
The 30-year fixed averaged 6.58% for the week of July 23, 2026 (Freddie Mac), up from 6.55% the prior week but below the 6.74% of a year ago. The 15-year fixed averaged 5.96%. Rates change weekly and vary by lender and credit.
What's changing with condo financing on August 3?
Fannie Mae and Freddie Mac are eliminating the limited review option for many condo loans, meaning more buildings face full project review. Separately, only 21 of 2,397 South Florida condo buildings are FHA-approved. Confirm a building's financing status early.
Are down payment assistance programs available?
Yes — Florida's Hometown Heroes reopened July 13, 2026 with a new round, offering eligible first-time buyers up to $35,000 as a 0% deferred second mortgage. First-come, first-served, no application fee.
What do out-of-state buyers need to know about CDD fees?
Many newer communities carry a CDD assessment on top of taxes and HOA dues that isn't obvious in the price. Ask for the labeled CDD, insurance, and HOA figures before committing to a range.
Do I need to register my agent before touring new-construction models?
Yes. Have your own REALTOR® register you on your first visit. The model-center rep works for the builder; your agent represents you, usually at no extra cost.
Amanda Sweetz
REALTOR® · SRS · CPRES · Lic. #SL3649756
Amanda specializes in relocation, probate, and divorce real estate across Jupiter, Palm Beach Gardens, Juno Beach, North Palm Beach, and Singer Island. A former Florida paralegal (Florida Bar Registered Paralegal #1033928), she brings legal fluency and a calm, methodical hand to life's biggest moves. Keller Williams Realty of the Palm Beaches · 2901 PGA Blvd, Palm Beach Gardens, FL 33410 · (561) 517-6054
Thinking about a move to Palm Beach County?
Whether you're buying your first home here, relocating from out of state, or navigating an inherited property, let's talk through your timing and your options — no pressure, just clarity.
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Sources: June 2026 Palm Beach County statistics, MIAMI REALTORS® + RWorld / BeachesMLS (released July 17, 2026); Freddie Mac Primary Mortgage Market Survey, week of July 23, 2026; Florida Housing Finance Corporation, Hometown Heroes Program.
Disclaimer: This post is for informational purposes only and does not constitute legal, tax, or financial advice. Market data reflects the reporting period noted above and is subject to change and revision; verify current figures for your specific situation. Mortgage payment illustrations are estimates and do not include taxes, insurance, HOA, or CDD assessments. Amanda Sweetz is a licensed Florida real estate agent (Lic. #SL3649756) and a Florida Bar Registered Paralegal (#1033928) with Keller Williams Realty of the Palm Beaches. She is not an attorney and does not provide legal advice. Each Keller Williams® office is independently owned and operated. Equal Housing Opportunity.