2024 Palm Coast Real Estate Market: What Buyers Need to Know

The Palm Coast real estate market continues to evolve in 2024, presenting both opportunities and challenges for homebuyers. Here's what you need to know about current trends and forecasts.

Current Market Overview

As of early 2024, Palm Coast's real estate market shows strong signs of stability with moderate growth. The median home price has increased by 5.8% compared to last year, currently standing at $375,000. Despite national economic uncertainties, local market fundamentals remain robust, supported by continued population growth and economic development in Flagler County.

Key Trends in 2024

• Inventory levels are gradually improving, giving buyers more options
• New construction continues to expand, particularly in western Palm Coast
• Waterfront properties maintain strong appreciation rates
• Average days on market: 45 days (down from 60 days in 2023)

Popular Neighborhoods

Several Palm Coast neighborhoods are seeing particularly strong demand:

• Grand Haven: Luxury waterfront community, median price $550,000
• Pine Lakes: Family-friendly area, median price $325,000
• Hammock Beach: Oceanfront properties, median price $750,000
• Belle Terre: Popular starter home location, median price $280,000

Market Predictions for 2024

Based on current trends and economic indicators, here's what we expect for the remainder of 2024:

• Continued price appreciation, but at a more moderate 3-4% rate
• Increased new construction to meet growing demand
• More first-time homebuyer opportunities in newer developments
• Stable interest rates with potential slight decreases

Tips for Buyers in 2024

1. Get pre-approved before starting your home search
2. Work with a local real estate agent who knows the area
3. Consider new construction as an option
4. Be prepared to move quickly when you find the right home
5. Don't wait for prices to drop - they're projected to continue rising