This month we see that compared to last year closed sales remain the same with no growth, while inventory is continuing to climb. We are also witnessing a continued softening of the luxury end of the market. 

As talk of increasing interest rates continues (with an increase expected in June) we are noticing buyers are becoming more discriminating as some sellers are stubbornly holding onto unrealistic price expectations and affordability is coming into question. 

Check out the market stats and a short video explaining them below:


SINGLE FAMILY HOMES
APRIL 2017
APRIL 2016
% CHANGE
Closed Sales
1,598
1,586
0.8%
Closed Sales (Paid In Cash)
571
576
-0.9%
Median Sale Price
$327,000
$307,125
 6.5%
Median % of Original List Price Received
94.5%
94.6%
-0.1%
Median Days to Contract
46
51
-9.8%
Inventory (Active Listings)
7,481
7,443
0.5%
Months Supply of Inventory
5.1
5.0
2.0%


TOWNHOUSES / CONDOS
APRIL 2017
APRIL 2017
% CHANGE
Closed Sales
1,283
1,376
-6.8%
Closed Sales (Paid In Cash)
824
856
-3.7%
Median Sale Price
$165,000
$154,950
6.5%
Median % Original List Price Received
93.5%
93.2%
0.3%
Median Days to Contract
52
52
0.0%
Inventory (Active Listings)
6,452
6,436
0.2%
Months Supply of Inventory
5.9
5.7
3.5%


What Do All These Market Numbers Mean?

Here's What We Think:



The Palm Beach County market statistics are courtesy of your REALTOR®, a proud member of the Realtors® Association of the Palm Beaches (RAPB). RAPB represents over 14,000 members involved in all aspects of residential and commercial real estate.

Looking to Buy or Sell a Palm Beach County Home?


Are you curious what your home is worth?









Website
Facebook
YouTube
Twitter
Yelp
Google +
Zillow
Trulia