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 April. Here are statistics on single family homes.

“Median sale price is still on the rise in Palm Beach County! Despite the pandemic, home values rose by 4.3 percent year-over-year to $365,000. That's how strong our market is. Meanwhile, we did see a decrease in closed sales by 30.5 percent, which is understandable as it was necessary to postpone some closings," 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.

“With the reopening of Palm Beach County, I anticipate that our market will start to normalize over the summer months ahead. Real estate is an essential service, and I want to commend Realtors® for incorporating innovative business practices that allowed buyers to browse properties safely during quarantine. From virtual open houses to virtual showings and everything in between, Realtors® have gone above and beyond to follow, and continue to follow, CDC Guidelines to protect consumers,” 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.