Palm Beach County is Officially a Balanced Market

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 January. Here are statistics on single family homes.

“Over the last few months, I have been advising consumers that we are approaching a balanced market that favors neither buyer nor seller. January reports show that Palm Beach County has officially reached the benchmark for a balanced market with 5.6 months’ supply of inventory. This is a 9.8 percent year-over-year increase for single family homes,” said Jeffrey Levine, President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.

In January, we saw inventory cross the 5.5 months supply benchmark for a balanced market. Active listings increase 9.3 percent to 8,069, a significant increase from the 7,383 we saw in January of 2018.

“If you have been on the fence about listing your home, now is the time to do so,” continues Levine.

Year-over-year, median sale price is up 4.6 percent to $340,000.  The median percentage of original list price received dropped slightly by 0.1 percent to 94.4 percent.

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

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 communications@rapb.com.

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.