Reef Homes for Sale

Reef Condo is a luxury waterfront, luxury community in Palm Beach, Palm Beach County, Florida. Properties are priced from $1,500,000 to $2,000,000. Pure Equity lists homes in Reef and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.

Pure Equity Realty covers Reef 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 Reef Palm Beach homes for sale as of October 2026. The median asking price is $2.0M.

That is 30% below the Palm Beach median of $2.85M. On a per-foot basis, homes here ask about $1,236 per square foot, compared with $1,642 across Palm Beach. So the median price buys roughly 1,600 square feet of living area. With so few listings, though, treat these figures as a snapshot rather than a trend.

Listings here have averaged 249 days on the market. That is slower than the Palm Beach average of 171 days. Because of that, buyers often have more room to negotiate on price, repairs or closing costs.

Homes listed in Reef date from 1974, so they are about 52 years old.

All of these homes predate Florida's 2002 statewide building code. So roof age, window protection and the wind mitigation report matter a great deal for insurance.

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.

Condo buyers should also know Florida's 2022 condo safety law. It requires milestone structural inspections for buildings three stories or taller as they age. It also requires a structural integrity reserve study. Before you sign, request both reports and the current reserve balance.

Reef includes waterfront homes. Waterfront lots in South Florida often sit in FEMA special flood hazard areas, where lenders require flood insurance. Before you commit, look up the address on the FEMA Flood Map Service Center and ask the seller for an elevation certificate.

Reef is a condo building. Also request the association budget, recent minutes and any special assessments before you sign.

At a median near $2.0M, Reef sits in the luxury tier of Palm Beach. Jumbo financing and proof of funds usually come up early in these negotiations.

Rentals in Reef have a median asking rent of $8,500 per month, across 1 active rental listing. For comparison, the Palm Beach median is $11,000, so rents here run 23% lower.

You can browse current Palm Beach rentals or ask us for a rent estimate on a specific Reef home.

Here is what the median Reef price means in Florida closing terms. At $2.0M, a 20% down payment comes to about $399,000, leaving a loan near $1.6M.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $5,586. Next, the intangible tax of 0.2% adds about $3,192. Buyers normally pay both at closing.

On the seller side, Florida deed stamps cost 70 cents per $100 of price. At the Reef median, that is about $13,965.

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 Reef listings show assignments to Palm Beach Public (elementary), Lake Worth (middle) and Forest Hill (high). However, boundaries can change each year, so confirm the assignment for a specific address with the School District of Palm Beach County.