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 August. Here are statistics on single family homes.
“Unlike July, a historically busy month, August is a perfect representation of the fluctuations of our current market. We saw decreases in closed sales, new listings, and months’ supply of inventory,” said Jeffrey Levine, President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.
Closed sales decreased 0.6 percent to 1,566. There was a 6.2 percent decline in active listings with 6,210 year-over-year. Months’ supply of inventory also decreased by 6.5 percent to 4.3 months.
“Meanwhile, median sale price continues to rise, which is optimistic for sellers. We should have a better feel for where the market is heading as we get closer to the end of the year,” continues Levine.
The median sale price increased 4.4% percent to $355,000, which is $15,000 more than August 2018.
Realtors® of the Palm Beaches and Greater Fort Lauderdale has merged with the South Broward Board of Realtors® to form the 3rd largest local Realtor® association in the country. The newly combined association represents 33,000 Realtors®, 35,000 MLS subscribers, and 5 regional boards across South Florida & the Treasure Coast. For more info, visit RapbGflrMerge.com or contact Communications@rapb.com.
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