Where Mortgage Rates Actually Stand
According to Freddie Mac, the 30-year fixed-rate mortgage averaged 7.40% for the week of October 15, 2026 — unchanged from the week before, up from 6.95% in mid-September, and well above the 6.27% averaged a year ago. The 15-year fixed averaged 6.71%, down slightly from 6.73% the prior week, versus 5.52% a year ago.
Freddie Mac's survey is a weekly average of conventional, conforming purchase loans, so the quote you actually receive will differ by lender, loan type, points, and credit profile. With rates this far above where they were a year ago, it's worth getting a same-day quote from more than one lender before you set a budget, and asking what a rate buydown or builder incentive would do to your payment.
The September 2026 Numbers: Two Markets, One County
Here's what the official county report — released October 16 by MIAMI REALTORS® + RWorld and BeachesMLS — shows for September 2026:
| Indicator | Single-family homes | Townhouses & condos |
|---|---|---|
| Median sale price | $656,000 (up 6.67% from $615,000) | $310,000 (up 3.33% from $300,000) |
| Months' supply | 3.6 months — seller's market | 6.8 months — balanced market |
| Active inventory | Down 19.6% (5,576 → 4,481) | Down 15.3% (6,914 → 5,858) |
| Median days to contract | 43 days (vs. 51 a year earlier) | 53 days (vs. 65 a year earlier) |
| Median days to completed sale | 83 days (vs. 90 a year earlier) | 98 days (vs. 105 a year earlier) |
| % of original list price received | 95% | 93% |
| Cash sales | 44.7% of transactions | 61.1% of transactions |
A few things worth pulling out of that table.
Inventory is still shrinking, and sales have cooled too. Total active listings countywide fell 17.2% year over year, from 12,490 to 10,339 — the eighth consecutive monthly decline. Total closed sales fell 3.3% year over year in September to 1,914 transactions. Single-family sales dipped 2.67% (1,163 → 1,132) while condo sales fell 4.28% (817 → 782) — a sign that even with inventory this tight, higher rates are weighing on the pace of deals.
The luxury tier keeps setting records. Palm Beach County has logged 179 sales of $10 million or more so far this year (through October 14), the most in a calendar year in county history, plus 21 sales of $30 million or more through September, which ties the county's full-year 2025 total. As always, look at the median, not the average: because Palm Beach County contains one of the world's top ultra-luxury markets, a handful of eight-figure sales skews the average dramatically upward. The median — the midpoint, where half sold for more and half for less — is a far more honest picture of what you'll actually encounter.
Cash remains more than half of all activity. Cash sales were 51.4% of closed transactions countywide in September, essentially flat from 51.3% a year ago, and nearly double the roughly 27% national rate. 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 7.40% with 20% down, the $656,000 single-family median works out to roughly $3,630/month in principal and interest. The $310,000 condo median lands near $1,720/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. Want a number that includes all of it? Try the Florida mortgage calculator, or see what price fits your income with the affordability calculator.
The Condo Story — What Changed on August 3
The condo market is still where buyers have more room to negotiate: more supply relative to single-family, longer days on market, and slower price growth. But that room exists for a reason, and the reason is financing.
Two things every Palm Beach County condo buyer should still have on their radar, now about eleven weeks into the new rules:
- FHA approval is still 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 tighter rules are now in effect. Fannie Mae and Freddie Mac eliminated the limited review option for many condo loans on August 3, 2026, so more buildings now face full project review — reserves, budgets, litigation, deferred maintenance. The long-term goal is a more transparent and financially sounder lending environment, and it's still worth asking your lender directly whether a specific building qualifies for streamlined review.
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: Hometown Heroes Remains Open
Florida's Hometown Heroes down payment assistance program reopened on July 13, 2026 with a fresh $50 million round, and Florida Housing Finance Corporation's program page continues to list the 2026 program as active. That page doesn't publish a funds-remaining figure, so confirm current availability with a participating lender before you count on it. For qualifying first-time buyers, it's still one of the most useful programs in the state:
- 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 reserving funds requires being pre-approved and under contract through a participating lender. When a round is spoken for, the program pauses until the next one, so ask your lender to confirm availability early.
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 know where you stand before you start touring. 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 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 September 2026, the single-family median was $656,000, up 6.67% year over year. The townhouse and condo median was $310,000, up 3.33%.
Is Palm Beach County a buyer's or seller's market?
It depends on property type. Single-family is a seller's market at 3.6 months of supply with inventory down 19.6%. Condos are balanced at 6.8 months, though condo inventory is now declining year over year too (down 15.3%), which is starting to narrow that leverage.
How long do homes take to sell here?
In September 2026, the median time from listing to contract was 43 days for single-family homes and 53 days for condos. Median time to completed sale was 83 and 98 days respectively.
What are mortgage rates right now?
The 30-year fixed averaged 7.40% for the week of October 15, 2026 (Freddie Mac), unchanged from the prior week and well above the 6.27% of a year ago. The 15-year fixed averaged 6.71%. Get a current quote before budgeting.
What changed with condo financing on August 3?
Fannie Mae and Freddie Mac eliminated the limited review option for many condo loans on that date, so more buildings now 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 and is listed as active, offering eligible first-time buyers up to $35,000 as a 0% deferred second mortgage. Funds are first-come, first-served, so confirm current availability with a participating lender and get pre-approved early. 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. An active Florida Registered Paralegal (FRP #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) 406-4557
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.
Schedule a Free ConsultationSources: September 2026 Palm Beach County statistics, MIAMI REALTORS® + RWorld / BeachesMLS (released October 16, 2026); Freddie Mac Primary Mortgage Market Survey, week of October 15, 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 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.