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Just in! New Real Estate Market Report was released on May 22, 2020 from Beaches MLS detailing recent residential property activity in the Palm Beaches. The reports compare year-over-year data for the last full calendar month.
Enjoy this Palm Beaches Real Estate Market Report for this month. You can also do a home search and save your favorite properties. Set up a search and be alerted as soon as a matching property hits our database. It’s Exclusive.
NORTH Palm Beach County
SOUTH Palm Beach County
Median Price of Homes Sold
|Property Type||Median Sale Price||% Change|
|Single Family House||$729,718||+12.5%|
|Condo, Townhouse, Villa||$403,253||- 0.3%|
Monthly Indicators Report
New Listings decreased 19.4% for Single Family homes and 17.9% for Townhouse/Condo homes. Pending Sales decreased 42.6% for Single Family homes and 40.7% for Townhouse/Condo homes. Inventory decreased 27.4% for Single Family homes and 14.7% for Townhouse/Condo homes.
Median Sales Price increased 5.6% to $380,000 for Single Family homes and 13.0% to $187,000 for Townhouse/Condo homes. Median Time to Contract decreased 18.6% for Single Family homes and 2.6% for Townhouse/Condo homes.
The inventory for real estate in Palm Beach County is showing a 4.2 month supply of homes on the market for potential home buyers. Months Supply of Inventory decreased 28.8% for Single Family homes and 12.5% for Townhouse/Condo homes.
For the real estate market to be considered balanced in Palm Beach County according to RAPB’s President, there must be a 5.5 months supply of active listings inventory. Above this number means a buyers market and below this number means a sellers market.
While the effect of COVID-19 is varied throughout the country, we are likely to see impacts to housing activity now and into the coming months. Its continued spread is leading many companies and consumers to change their daily activities. Read more about the Buyers or Sellers Market Here.
The best way to stay current on New Listings in the Palm Beaches is by signing up for free Email Alerts. Put in your search criteria, and we’ll let you know when a new home comes on the market that meets your needs.
Whether you’re buying a home or selling a property in south Florida, the Martin Group can help. We’ll be with you from the start through the closing and beyond! Call or text us at 561-339-1779.
We can help you to buy or sell a property in Palm Beach County, Palm Beach Gardens, West Palm Beach, Jupiter, North Palm Beach, Singer Island, and Juno Beach Florida. The Martin Group, with over 50 combined years of experience, is one of the top referred and preferred real estate teams in south Florida.
You can Request a Detailed Market Report for a specific County, City, Subdivision, or Zip Code. Data is from our Realtors® Association of the Palm Beaches Multiple Listing Service for this month.
This Housing Report includes the Number of Sold Homes, Median Sold Price, Average Sold Price, Days on Market, Buyers or Sellers Market Now, & More.