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

“The November reports are out, and they did not disappoint! The holiday season certainly isn’t slowing down the red-hot housing market in Palm Beach County. We saw a 22 percent year-over-year increase in median sale price to $510,000 as well as the average days on market dropping 45.8 percent to 13 days. It’s impressive to see the consistency in growth for median sale price and the days on market decreasing with regularity in 2021. Houses are being scooped up almost as quickly as they are listed and homeowners are seeing an increasingly great return on investment," said Karen Johnson, President of Broward, Palm Beaches & St. Lucie Realtors®.

Days on market is a measure of the length of the home selling process calculated for sales which closed during the month. Time to contract measures the number of days between the initial listing for a property and the signing of the contract which eventually led to the closing of the sale.

"As snowbirds and northerners continue to make the move to Florida, the market shows no signs of slowing down as we inch closer to 2022. My advice to people who are contemplating buying or selling is to contact a local Realtor® today and ask for their expertise. A Realtor® can help you with all your real estate needs and negotiate the right price for you in this competitive market,” continues Johnson.

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

Market Reports: Single Family | Townhouses/Condos

Broward, Palm Beaches & St. Lucie Realtors® is the 3rd largest local Realtor® association in the nation, representing over 38,000 Realtors®, 41,000 MLS subscribers, and 5 regional boards across South Florida & the Treasure Coast. For more info, visit Rworld.com or contact Communications@rworld.com.