Just in! Newly released market reports from Florida Realtors® detailing recent real estate activity in Palm Beach County. The reports compare year end data for 2018. Here are statistics on single family homes.
“Palm Beach County saw a healthy year-over-year increase in active listings and months’ supply of inventory in single family homes. At 5.1 months’ supply, we are just shy of the benchmark for a balanced market [5.5 months’ supply] which favors neither buyer nor seller,” said Jeffrey Levine, President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.
In 2018 we saw inventory (active listings) increase 7.2 percent to 7,344, a healthy increase from 6,849. The supply of inventory had a notable 6.3 percent increase to 5.1 months as we inch closer to a balanced market.
“However, our median sale price is still rising so sellers have a slight advantage. If you have been on the fence about listing your property, a local Realtor® can help you analyze recent sales in your unique community,” continues Levine.
Year-over-year, median sale price is up 4.6 percent to $345,000. There was also a slight 1 percent increase in closed sales to 17,419.
Realtors® of the Palm Beaches and Greater Fort Lauderdale is the 3rd largest local real estate association in the country. As one unified voice, RAPB + GFLR represents 30,000 Realtors®, 33,000 MLS subscribers, and 5 regional boards across South Florida & the Treasure Coast. For more info, contact firstname.lastname@example.org.