More inventory continues to come to market with a 5.2 months supply for single family homes and a 6.0 month supply for townhouses and condos (Remember a 6 month supply indicates a balanced market)

We are also noticing that this Spring Buying Season is bringing many buyers as the threat of additional interest rate increases offers motivation to buy sooner than later.

Finally, we are noticing a more dramatic softening of the luxury market with average sales prices of the top 10 percent of houses falling 23 percent (to $7.2 million). 

What Do All These Numbers Mean?

Here's What We Think:


SINGLE FAMILY HOMES
MARCH 2017
MARCH 2016
% CHANGE
Closed Sales
1,676
1,520
10.3%
Closed Sales (Paid In Cash)
651
579
12.4%
Median Sale Price
$325,000
298,450
 8.9%
Median % of Original List Price Received
94.5%
95.0%
-0.5%
Median Days to Contract
56
47
19.1%
Inventory (Active Listings)
7,655
7,687
-0.4%
Months Supply of Inventory
5.2
5.1
2.0%


TOWNHOUSES / CONDOS
MARCH 2017
MARCH 2017
% CHANGE
Closed Sales
1,352
1,270
6.5%
Closed Sales (Paid In Cash)
861
812
6.0%
Median Sale Price
$162,000
$155,000
4.5%
Median % Original List Price Received
93.2%
93.3%
-0.1%
Median Days to Contract
56
53
5.7%
Inventory (Active Listings)
6,644
6,539
1.6%
Months Supply of Inventory
6.0
5.7
5.3%


The Palm Beach County market statistics below are courtesy of your REALTOR®, a proud member of the Realtors® Association of the Palm Beaches (RAPB). RAPB represents over 14,000 members involved in all aspects of residential and commercial real estate.

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