Ocean Terrace Homes for Sale

Ocean Terrace is a residential community in Palm Beach, Florida. Active listings are currently priced from $10M–$10M.

Pure Equity Realty covers Ocean Terrace and the Palm Beach area. We list for 1%, which includes photography, MLS syndication, and negotiation support. Buyers pay nothing for representation. For current market data, see Florida Realtors' market statistics.

Our MLS feed shows a single listing for Ocean Terrace Palm Beach homes for sale as of October 2026. The median asking price is $10M.

That is 251% above the Palm Beach median of $2.85M. On a per-foot basis, homes here ask about $3,741 per square foot, compared with $1,642 across Palm Beach. So the median price buys roughly 2,650 square feet of living area. With so few listings, though, treat these figures as a snapshot rather than a trend.

Listings here have averaged 87 days on the market. That is faster than the Palm Beach average of 171 days. As a result, buyers here should be ready to write an offer soon after a showing.

Homes listed in Ocean Terrace date from 1956 to 2020. That puts them between 6 and 70 years old.

The range straddles 2002, when Florida adopted its statewide building code. Therefore two similar-looking homes here can carry very different insurance premiums. Ask for the wind mitigation report on any home you consider, since it drives much of that difference.

In addition, most Florida insurers ask for a four-point inspection on homes 30 years or older. It covers the roof, electrical, plumbing and HVAC. Updated systems usually make coverage easier to place.

Here is what the median Ocean Terrace price means in Florida closing terms. At $10M, a 20% down payment comes to about $2.0M, leaving a loan near $8.0M.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $28,000. Next, the intangible tax of 0.2% adds about $16,000. Buyers normally pay both at closing.

On the seller side, Florida deed stamps cost 70 cents per $100 of price. At the Ocean Terrace median, that is about $70,000.

Finally, owner-occupants should file for the Florida homestead exemption by March 1. It removes up to $50,000 of assessed value. After that, Save Our Homes caps yearly assessment increases at 3% or inflation, whichever is lower. To see what these numbers mean for your budget, get pre-approved before you tour.

Recent Ocean Terrace listings show assignments to Palm Beach Public (elementary) and Palm Beach Lakes (high). However, boundaries can change each year, so confirm the assignment for a specific address with the School District of Palm Beach County.