Hello Everyone and thank you for watching. This is Gia Freer with Palm Beach Premier Real Estate here in Boca Raton Florida with your local market report for Febuary 2015. 

So here’s a quick take on the numbers that just came out from the Realtors Association of the Palm Beaches

The message this month is that Affordability is on the rise here in Palm Beach County.

February year-over-year market statistics for the County indicate that closed sales of Single Family Homes increased by a staggering 33.7 per cent. Of the 1,231 closed transactions in February – nearly 60% of them were cash purchases. 

The Median sale price declined to $270,000, an 8.8% percent dip from last year’s $296,000. 

Buyers were offered 11.4% more listings of Single Family Homes in February from which to choose, versus the same period last year. 

Months’ supply of inventory ended at 5.6 months.

As for townhouses/condos, closed sales took a slight dip but showed marked improvements in other year-over-year comparisons, including the Median sale price which increased by 4 percent to just under $130,000. 

Months’ supply of inventory increased to 6.0 months.

We will of course continue to provide you with regular market updates. 

In the interim, if you are thinking of getting your home on the market, or you just want a second opinion of value or have questions, please give us a call here at 561.395.8418 or email us at Info@PBPrealestate.com 

As always we look forward to speaking with you. Thank you for watching. See you next time…