Just in! Newly released market reports from Florida Realtors® detailing recent real estate activity in the Palm Beaches. The reports compare year-over-year data for March. Here are statistics on single family homes.

“The Palm Beach County housing market saw increases in closed sales and home prices despite experiencing the early stages of the COVID-19 outbreak. Closed sales rose by 2.2 percent year-over-year to 1,554. Median sale price also rose 5.7 percent to $370,000,” said Jarrod Lowe, President of Broward, Palm Beaches & St. Lucie Realtors®.

It’s important to remember that median sale price is our preferred summary statistic for price activity because, unlike average sale price, median sale price is not sensitive to high sales prices for small numbers of homes that may not be characteristic of the market area.

“While there were positive statistics in March, I don’t want to overlook the impact COVID-19 will have on our market in the coming months. It's important for buyers and sellers to reach out to a local Realtor® to discuss essential real estate needs. Innovative practices, such as virtual open houses and virtual showings, are great ways for buyers to browse properties safely and Realtors® to show them in real time,” continues Lowe.

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.