Month of May 2015 Palm Beach County real estate market source: Realtors Association of the Palm Beaches
Posted by Jean-Luc Andriot on Wednesday, July 1st, 2015 at 6:18pm.
Month of May 2015 Palm Beach County real estate market (source: Realtors' Association of the Palm Beaches)
From year to year May 2014 to May 2015 for single family homes:
The number of closed sales increased by 6% (to 1,739)
The median sale price increased by 6% (to $295,400)
The median days on market decreased by -25% (to 42)
The months of inventory supply decreased by -21.1% (to 4.7)
The single family homes real estate market in Palm Beach County is accelerating. The inventory is becoming scarce both in availability and number of days they remain on the market. Consequently sold prices have increased. Consequently there are fewer homes available for sale.
If you are interested in selling your home, now is a good time to list your home for sale!
From year to year May 2014 to May 2015 for condominium and townhomes:
The number of closed sales decreased by -8% (to 1,272)
The median sale price increased by 12.6% (to $152,000)
The median days on market decreased by -9.3% (to 49)
The months of inventory supply decreased by -3% (to 5.2)
The condominium and townhomes real estate market in Palm Beach County is also improving There were fewer closed sales -8% year to date. Since the days on market and the inventory supply both decreased, consequently sold prices rose by more than 12% (year to year).
If you are interested in selling your condo or townhome, now is a good time to list your home for sale!
City of Boca Raton
In the city of Boca Raton from year to year May 2014 to May 2015:
The number of closed sales decreased by -14% (to 412)
The median sale price increased by 9.1% (to $311,000)
The median days on market decreased by -4.2% (to 91)
The months of inventory supply decreased by -17.3% (to 5.7)
The Boca Raton real estate market is improving as well. Although the number of closed sales decreased by 14%, the sold prices rose by 9.1% (probably due to large decrease in inventory supply (-17.3%) and small decrease in the number of days on market.
If you are interested in selling your property in Boca Raton, now is a good time to list your home for sale!