PALM BEACH MEDIAN PRICE HITS $622,500 AS INVENTORY RISES YEAR-OVER-YEAR
Just in! May 2023 reports have been released from Florida Realtors® detailing recent real estate activity in Palm Beach County. The reports compare year-over-year data. Here are statistics on single-family homes.
Palm Beach County continues to see year-over-year increases in inventory with 3,529 active listings, a 34.1% increase from 2022. The county’s supply of inventory stayed at 3.0 months compared to 1.7 months in 2022 – a 76.5% increase.
“Palm Beach County’s median sale price reached $622,500 in May with inventory rising year-over-year,” says Chris Krzemien, president of Broward, Palm Beaches & St. Lucie Realtors®. “With South Florida experiencing an increase of people moving to the Sunshine State, it’s important to contact a Realtor® who understands that each transaction is a unique consumer experience that needs to be navigated with different levels of support, complexity and expertise.”
Palm Beach County’s median time to contract has increased 145.5% since 2022. This is typically a sign of longer closing times and/or declining numbers of cash sales. Contact a local Realtor® today — Realtors® work as a collective of professionals who provide essential services including the specific knowledge and expertise to best serve homebuyers and sellers. Learn more on how Realtors® can serve your needs at OnlyARealtor.com.
View Reports: Single Family | Townhomes/Condos
About Broward, Palm Beaches & St. Lucie Realtors®
Broward, Palm Beaches and St. Lucie Realtors® is South Florida’s premier REALTOR association. More than 42,000 members in eight locations are equipped to sell real estate along 130 miles of coastline in South Florida and the Treasure Coast. Broward, Palm Beaches, St. Lucie Realtors® work to enhance its members' ability and opportunity to conduct business professionally, ethically and profitably throughout their career. As the third largest local association in the nation, the association empowers members as leaders and influencers in the industry and community. Broward, Palm Beaches and St. Lucie Realtors® is the local chapter of the National Association of REALTORS® To learn more visit, RWorld.com