The Market Remains Strong in Palm Beach County

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 December. Here are statistics on single family homes.

“Supply of inventory increased 6.3 percent to 5.1 months. Buyers now have more inventory to choose from. Median sale price remained level with a small increase of 0.9 percent year-over-year,” said Jeffrey Levine, President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.

In December, we saw inventory active listings increase 7.2 percent to 7,344, a significant increase from 6,849. The supply of inventory had a notable increase of 6.3 percent to 5.1 months as we move closer to a balanced market.

“The market still remains strong. December is the second month in a row that shows the market is shifting to a balanced market with not much bias leaning towards the sellers’ side anymore. If you are a buyer or seller sitting on the fence, this may be the time for you to act,” continues Levine.

Year-over-year, median sale price is up 0.9 percent to $344,700. The median percentage of original list price received dropped slightly by 0.1 percent to 94.6 percent.

Market Reports: Palm Beach Single Family | Palm Beach Townhouses/Condos

Broward, Palm Beaches & St. Lucie Realtors® is the 3rd largest local Realtor® association in the country, representing 33,000 Realtors®, 35,000 MLS subscribers, and 5 regional boards across South Florida & the Treasure Coast. For more info, visit Rworld.com or contact Communications@rworld.com.