Palm Beach County November 2015 Market Report
Market Highlights
“Although we are still in a seller’s market, November statistics showed signs that we are moving towards a more neutral real estate market that favors neither seller nor buyer. The median sale price for single family homes is leveling, fluctuating between $285,000 and $295,000 for the 5th consecutive month, and months’ supply of inventory is continuing to inch towards the benchmark for equality. Said Matt Halperin, 2015 President of the Realtors® Association of the Palm Beaches (RAPB).
Market Detail (Year-over-Year)
In the single family homes sector, we saw gains in the following categories year-over-year: closed sales increased 7.4% from 1,104 to 1,186 transactions, median sale price increased 11.3% from $265,012 to $295,000, and average percent of original list price received increased 0.5% from 93.0% to 93.5%. Meanwhile, median days on market decreased 40.3% from 62 to 37 days, and inventory levels continued to decline, down 3.6% from 7,591 to 7,320 active listings and down 15.9% from 5.7 to 4.8 months’ supply.
In the townhouses/condos sector, we saw gains in the following categories: closed sales increased 2.1% from 847 to 865 transactions, median sale price increased 5.3% from $133,000 to $140,000, and average percent of original list price received increased 1.1% from 92.1% to 93.1%. Meanwhile, median days on market decreased 33.3% from 54 to 36 days, and inventory levels continued to decline, down 1.0% from 6,231 to 6,170 active listings and down 6.8% from 5.6 to 5.2 months’ supply.
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