Palm Beach County: Are Investors Easing out of the Real Estate Market?
WASHINGTON, D.C. – August 11, 2015 – (RealEstateRama) — With the release of year-over-year market statistics for the 2nd quarter, we saw trends of consumer confidence in the single family homes sector. Closed sales increased 13.2 percent to 5,383 transactions, and median sale price increased 5.6 percent to $299,900. Meanwhile, median days on market dropped 20.8 percent to 42 days. Also, inventory decreased 7.4 percent to 6,726 active listings, and months’ supply decreased 21.9 percent to 4.5 months.
“Although consumer confidence is high, closed sales have declined in homes priced below $150,000 along with overall cash sales. Investors may be easing out of the Palm Beach County real estate market. However, sales above $150,000 have increased, so end users and first-time homebuyers are still out there. This is the time for potential sellers to list. Local REALTORS® can target buyers who are willing to pay fair market value,” said Matt Halperin, 2015 President of the Realtors® Association of the Palm Beaches (RAPB).
As for the townhouses/condos sector, we also saw positive indicators. Closed sales increased 6.6 percent to 4,131, and median sale price increased 11.1 percent to $150,000. Meanwhile, median days on market dropped 11.1 percent to 48 days. Also, inventory decreased 8.8 percent to 5,608 active listings, and months’ supply of inventory decreased 8.1 percent to 4.9 months.
For detailed information about market statistics for Palm Beach County, find your local REALTOR® match online by visiting www.SouthFloridaPropertyMatch.com.
About Matt Halperin: Halperin is also the Direct Sales Manager and a REALTOR® of The Keyes Company in Wellington and can be reached at 561-967-4300 or mhalperin5 (at) gmail (dot) comfor questions.
About the Realtors® Association of the Palm Beaches (RAPB): RAPB is the 6th largest local association in the country representing over 12,000 REALTOR® members involved in all aspects of residential and commercial real estate throughout Southeast Florida. RAPB members are “The Voices for Local Real Estate,” providing consumers with real insight on the homeownership process with data accuracy and market expertise. Many of their members also engage in one or more divisions offered through RAPB, including the REALTORS® of St. Lucie County (RSLC), REALTORS® Commercial Alliance, the Young Professionals Network, and the award-winning Global Business Alliance. Consumers will find their perfect REALTOR® match from RAPB by visiting www.SouthFloridaPropertyMatch.com.
