Palm Beach County Home Sales, Median Sale Prices Rise in May

The South Florida housing market got its first glimpse of what Hurricane Irma did to residential sales volume in September and the results can hardly be a surprise: closings for existing,

Palm Beach single-family home sales increased 8.7%, from 1,721 to 1,870. Palm Beach condo sales decreased 1.6%, from 1,476 to 1,453. Total sales volume increased 4.65%, from $1.45 billion to $1.52 billion. Single-family home dollar volume increased.

First-quarter real estate reports show robust sales in Palm Beach. noted how "a rise in average and median sale price across all areas shifted overall pricing metrics higher.". recorded at.

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 · According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in December 2018 was $255,200, up 2.9 percent from the previous year; the national median existing condo price was $240,600.

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The Miami Association of Realtors is reporting this week that palm beach county single-family home sales and median prices rose in 2Q 2019. Palm Beach County single-family home sales rose 1.2% year-over-year in 2Q 2019, increasing from 5,216 to 5,276. Condo transactions declined 4.1%, from 4,173 to.

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Palm Beach County had a strong second quarter. Single-family home sales rose 2.3 percent to 5,221 sales in the second quarter, and condo sales were up 1 percent to 3,933 closings. The median price of a single-family home grew by 4.3 percent to $335,000, while the median condo price increased 5.3 percent to $170,000.

"Palm Beach County saw a healthy year-over-year increase in active listings and months’ supply of inventory in single family homes. At 5.1 months’ supply, we are just shy of the benchmark for a balanced market [5.5 months’ supply] which favors neither buyer nor seller," said Jeffrey Levine, President of the Realtors of the Palm.

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