PALM BEACH COUNTY EXPERIENCES INCREASED INVENTORY
Just in! January 2024 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 saw a spike in inventory with 16.6% growth from January 2023, currently sitting at 4,900 active listings. The county experienced a 12.9% increase in new listings rising to 1,904 from 1,687 in 2023. The median time to sale is currently at 82 days with the median sale price in January being $615,000, a 5.6% increase. Overall, Palm Beach County closed 811 sales with $952.2 million in dollar volume this month compared to $863.7 million in 2023.
"We are seeing more inventory in Palm Beach County as we kick off the year. Months’ supply of inventory year-over-year is currently sitting at 4.2 months, a 23.5% increase,” says David Serle, 2024 president of Broward, Palm Beaches & St. Lucie Realtors®. “With so many options available in the county, it’s essential to navigate the current marketplace with the help of a Realtor® who will provide the specific knowledge and expertise to best serve homebuyers and sellers.”
Contact a local Realtor® today – we are responsible for thousands of real estate transactions a year while keeping up to date with the latest trends, laws, and regulations specific to the local communities we serve. 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