Just in! Newly released market reports from Florida Realtors® detailing recent real estate activity in Palm Beach County. The reports compare year-over-year data for March. Here are statistics on single family homes.
“This is now the fifth consecutive month we’ve seen a decrease in year-over-year closed sales. Despite an 8.9 percent decrease in closed sales, we did see the median sale price in single family homes increase again,” said Jeffrey Levine, President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.
There were 1,521 closed sales in Palm Beach County in March of 2019, this is an 8.9 percent decrease year-over-year. The median sale price increased slightly by 0.6 percent to $350,000.
“There was another increase in months’ supply of inventory to 5.7 months, an 11.8 percent increase year-over-year. We continue to see the months’ supply of inventory hover around the benchmark for a balanced market [5.5 months]. If you would like to know more about where the market is heading, contact a local Realtor® for guidance,” continues Levine.
Similar to the rise in months’ supply of inventory, Palm Beach County experienced an increase in active listings. There are 7,959 active listings, which is 8.5 percent higher than the 7,335 listings in March 2018.
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.