Palm Beach Housing Prices at Standstill, Third Consecutive Month

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 September. Here are statistics on single family homes.

“The median sale price in Palm Beach County for September increased 2.9 percent to $355,000. Despite the year-over-year increase, this was the third consecutive month where the median sale price has held firm at the $355,000 mark,” said Jeffrey Levine, President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.

The median sale price in July was $355,013 (Increased 4.4 percent year-over-year) and was followed by $355,000 (Increased 1.4 percent year-over-year) in August.

“This month to month trend in median sale price is worth noting as we edge closer to the holiday season. Median sale price is our preferred summary statistic for price activity because unlike average sale price, median sale price is not sensitive to high sale prices for small numbers of homes that may not be characteristic of the market area,” continues Levine.

Meanwhile, closed sales increased by 10.5 percent to 1,356. The closed sales paid in cash also increased by 3.9% to 401. Cash sales can be a useful indicator of the extent to which investors are participating in the market. If you are thinking about selling or buying a home, contact a local Realtor® for advice.

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.