The Palm Beach County Housing Market remained stable in July. Single Family Homes:

Closed sales remained virtually unchanged from one year ago rising only 0.9% from 1,174 to 1,185 closed sales. This reflects buyer hesitancy despite a larger pool of active listings to choose from. The median sales price is down -4.8% from $613,250 to $644,500.

Single Family Homes:
The median days to contract is up 31.4% from 35 to 46 days, so homes are taking longer to sell despite more inventory. The number of active listings increased 16.0% from 5,159 to 5,986. And the months supply of inventory for Single Family Homes increased 22.0% from 4.5 months to 5.5 months supply of inventory.

Condo Townhomes Villas:
Closed sales in Palm Beach County were down -12.4% from 880 to 771. The Median Sales price in Palm Beach County for Condos/Townhomes was down -6.1% from $320,000 to $300,500.

Median Days to Contract increased from 48 days to 70 days. The number of active listings rose 14.5% from 6,331 to 7,249. Months supply of inventory increased 32.9% from 7.0 months to 9.3 months of inventory.

“We’re seeing greater flexibility for buyers in Palm Beach County,” says President of the Broward, Palm Beaches & St. Lucie Realtors® Jonathan Lickstein. “Inventory is rising, timelines are stretching, and pricing remains stable. It’s a market that rewards preparation, and that’s where working with a local Realtor® makes all the difference.”S