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 May. Here are statistics on single family homes.

“Promising news for Palm Beach County! Despite the pandemic, real estate market values are holding steady at $365,000. Most would assume that the market would be derailed after the past few months, but this just goes to show how resilient our county is. If you’re looking to sell, there are also fewer competing properties right now and fewer days on market,” said Jarrod Lowe, President of Broward, Palm Beaches & St. Lucie Realtors®.

Days on market is the median number of days between the list date and contract date for all closed sales during the month. It measures the number of days between the initial listing of a property and the signing of the contract, which will eventually lead to the closing of the sale. In Palm Beach County, the median time to contract is only 37 days.

“Meanwhile, we did see a decrease in closed sales by 47 percent, which is understandable as many closings were postponed due to COVID-19. However, with the reopening Palm Beach County, I expect to see the market begin to normalize as summer progresses. I encourage all residents to contact a local Realtor® if they are interested in buying or selling. Realtors® are going above and beyond to follow CDC Guidelines and are equipped to help you buy or sell in all market conditions,” 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.