Real Estate Market Report Palm Beaches April 2020

Sold Home Prices Continued to Rise Despite the Pandemic

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 April 2020

MEDIAN Price of Homes Sold

Property Type Median Sale Price % Change
Single Family House $405,000 +5.9%
Condo, Townhouse, Villa $220,000 +14.9%

AVERAGE Price of Homes Sold

Property Type Median Sale Price % Change
Single Family House $729,718 +12.5%
Condo, Townhouse, Villa $403,253 - 0.3%

Newest Listings North Palm Beach County

South Palm Beach County April 2020

MEDIAN Price of Homes Sold

Property Type Median Sale Price % Change
Single Family House $405,000 +5.9%
Condo, Townhouse, Villa $220,000 +14.9%

AVERAGE Price of Homes Sold

Property Type Median Sale Price % Change
Single Family House $729,718 +12.5%
Condo, Townhouse, Villa $403,253 - 0.3%

Newest Listings South Palm Beach County

What Does This Data Mean?

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.

Buyers Market or Sellers Market Now?

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.

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.

We can help during this real estate shift!

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.

Let's Talk!

Doug Martin Realtor Emeritus flpalmbeach.com Martin Group Photo

Doug Martin

Realtor® Broker
561-339-3299

Jason Martin PA Realtor flpalmbeach.com Martin Group Photo

Jason Martin

Realtor® Agent
561-624-4544

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