Palm Beach County: Will We Break 2,000 Monthly Home Sales?

WASHINGTON, D.C. – July 22, 2015 – (RealEstateRama) — Market conditions are heating up in Palm Beach County. According to year-over-year market statistics for June, single family home sales rose 16.2 percent from 1,636 to 1,901 transactions. Within the breakdown, we also saw noteworthy leaps, including a 35.4 percent increase in sales between $250,000 and $299,999 and a 51.8 percent increase in sales between $600,000 and $999,999.

Additionally, median sale price rose 3.4 percent, placing us back above the $300,000 mark at $305,000. Strong buyer demand was also evident from other indicators: median days on market dropped 24.5 percent (53 to 40 days), active listing inventory declined 7.4 percent (7,262 to 6,726 listings), and months’ supply of inventory decreased 21.9 percent (5.8 to 4.5 months).

“This summer is an opportune time for Palm Beach County sellers to list with confidence. Inventory is low, and buyer demand is strong, as indicated by June statistics for single family homes. Median sale price has also hovered between $295,000 and $305,000 for three consecutive months, and we are primed to break a significant indicator of 2,000 monthly closed sales. If you have been on the fence about listing, now is the time to reach out to a local REALTOR®,” said Matt Halperin, 2015 President of the Realtors® Association of the Palm Beaches (RAPB). 

For townhouses/condos, we also saw similar year-over-year trends. Closed sales increased 21.9 percent (1,110 to 1,353 transactions), and median sale price jumped 8.3 percent ($138,000 to $149,450). Meanwhile, median days on market dropped 16.4 percent (55 to 46 days), active listing inventory declined 8.8 percent (6,147 to 5,608 listings), and months’ supply of inventory decreased 8.1 percent (5.3 to 4.9 months).

For detailed information about market statistics for Palm Beach County, find your local REALTOR® match online by visitingwww.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 visitingwww.SouthFloridaPropertyMatch.com.