Palm Beach County Market Continues to Thrive as 2020 Begins

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 December. Here are statistics on single family homes.

“Great news for Palm Beach County Residents! The market continues to thrive as we enter 2020. Closed sales increased 15.5 percent to 1,420 as well as median sale price which rose 5.6 percent to $364,000. However, there were decreases in active inventory (-16.1%) and months’ supply of inventory (-17.6%),” said Jarrod Lowe, President of Broward, Palm Beaches & St. Lucie Realtors®.

Closed sales are typically one of the simplest – yet most important – indicators for the residential real estate market.

“With the rise in median sale price but also declines in active listings and months’ supply of inventory, I’d suggest listing your home with a local Realtor®. If you’ve been on the fence about selling, they can help you take advantage of the current market conditions,” continues Lowe. 

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.

Coming soon! 2019 year end market reports for Palm Beach County will release on February 12th.

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.