PALM BEACH COUNTY SEES INCREASED INVENTORY AS MORTGAGE RATES DECREASE
Just in! August 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.
The changing season is bringing unusual seasonal opportunities for buyers due to falling mortgage rates and increased inventory. In Palm Beach County, the months supply of inventory currently sits at 4.7 months, a 62.1% increase from this time last year with 5,257 active listings. More listings are hitting the market each month, with the county seeing 1,597 new listings in August.
"Palm Beach County closed 1,113 sales in August, with the median time to contract being 40 days as buyers sift through options. The median sale price stayed consistent with this time last year at $617,500,” says David Serle, 2024 president of Broward, Palm Beaches & St. Lucie Realtors®. “The competition to secur4e homes is expected to continue into the fall rather than decrease as it usually does this time of year. That’s why it’s never been important to contact a local Realtor® with the unique expertise to navigate the current market with homebuyers’ priorities being met.”
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 our local communities. 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