Hello Everyone and thank you for watching. This is Gia with Palm Beach Premier Real Estate here in Boca Raton Florida with your local market report for JANUARY 2016.

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: 5,000 NEW LISTINGS HIT THE MARKET IN JANUARY!

Per the Realtors® Association of the Palm Beaches the clear message is that: 

“Seller confidence is up with the number of days on market declining and prices increasing year-over-year. January saw 2,835 Single family homes listed and 2,295 Townhouses & Condos listed.” 

At the same time, all of us here at Palm Beach Premier are watching the increased supply levels very closely as it relates to demand and prices. 

So….If you have been on the fence about listing your property in Palm Beach County, now is the time to contact us about getting your property sold.”

So, taking a look at the local market statistics for last month:

In the single family homes sector, we saw gains in the following categories year-over-year: 

  • Closed sales increased 7 percent to 1,111 transactions, 
  • Median sale price increased 4.1 percent to $285,000, and 
  • Average percent of list price received increased to 93.3 percent.

At the same time … looking closely at the month-to-month differences….. the numbers indicate an increased amount of supply hitting the market …. With 5 months supply and 7,670 homes for sale in January versus 4.6 months supply and 7,086 active listings in December.

Going forward we definitely will be keeping a close watch on inventory levels to see whether the increased supply will place pressure on prices.

  • In the townhouses/condos sector, we saw gains in the following categories year-over-year: 
  • Average List Price to Sales Price increased to 92.3%
  • Median sale price increased 10.0 percent to $143,000. 

At the same time … once again the month-to-month differences paint a slightly different picture….. with significant jumps in inventory for townhouses & condos between December and January …. 

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. 

We’ll see you next time…. ?