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 May. Here are statistics on single family homes.
“The Palm Beach County housing market remains balanced because of the months’ supply of inventory [5.1] and number of closings [1,870]. Recently, the market has been skewed in the seller’s favor and now we are seeing a rebalancing. A stabilizing factor in the rebalancing of the market is the increasing number of inventory,” said Jeffrey Levine, President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale and the South Broward Board of Realtors®.
Closed sales in single family homes increased 8.7 percent to 1,870. The months’ supply of inventory also rose 4.1 percent year-over-year to 5.1 months.
“Single family homes are approaching $365,000 in Palm Beach County. Higher priced homes are selling. If you’re thinking about listing, contact a local Realtor® on the current market conditions,” continues Levine.
Palm Beach County’s median sale price increased 3.1 percent year-over-year to $364,900. This is $10,900 higher than it was in May of 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 email@example.com.