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 January 2015.
So here’s a quick take on the numbers that just came out from the Realtors Association of the Palm Beaches
Low interest Rates, Rising Rents and a healthy job market are fueling demand
January year-over-year market statistics reported that the demand for homeownership was high for single family homes in Palm Beach County.
Closed sales increased 14.6 percent and sold quickly at 52 median days on market, a 5.5 percent decline from last year’s 55 days.
Median sale price remained level at $273,750, a 0.5 percent dip from last year’s $275,000.
Buyers were offered 7,828 active listings to peruse, an 18.7 percent increase from the 6,594 listings in January 2014.
Months’ supply of inventory ended at 5.7 months, 5.8 percent above than the benchmark for a balanced market.
As for townhouses/condos, closed sales dropped 8.1 percent but showed marked improvements in other year-over-year comparisons.
Median sale price increased 10.6 percent $130,000, and median days on market decreased 7.4 percent to just 50 days.
Inventory remained level at 6,680 active listings, a mere 0.3 percent increase from 6,663. 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