Palm Beach County Home Prices and Sales Continue to Climb
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 February. Here are statistics on single family homes.
“Closed sales and home prices in Palm Beach County continue to climb! Closed sales increased by 12.3 percent to 1,233. This is the third consecutive month we’ve seen a double digit jump in closed sales. We also saw the median sale price rise 6.8 percent to $363,000. Increases in closed sales and median sale price have started to become the new norm in Palm Beach County,” 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.
“Meanwhile, it will be interesting to see what role COVID-19 plays in the current state of our market. We’ll keep a close eye on the market over the next few months, and consumers should contact a local Realtor® with any questions they might have,” 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.