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 NOVEMBER 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: IT’S TIME TO SELL.

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

“Although we are still in a seller’s market, November statistics showed signs that we are moving towards a more neutral real estate market that favors neither seller nor buyer. The median sale price for single family homes is leveling, fluctuating between $285,000 and $295,000 for the 5th consecutive month, and months’ supply of inventory is continuing to inch towards the benchmark for equality. 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 7.4 percent 1,186 transactions, 
  • Median sale price increased 11.3 percent from $265,000 to $295,000, and 
  • Average percent of list price received increased to 93.5 percent.

Meanwhile:

  • Median days on market decreased to 37 days. 
  • Inventory levels continued to decline and were down 3.6 percent to 7,320 active listings and down to 4.8 months’ supply of inventory. 

In the townhouses/condos sector, we saw gains in the following categories: 

  • Closed sales increased 2.1 percent to 865 transactions
  • Median sale price increased 5.3 percent to $140,000. 

Meanwhile:

  • Median days on market decreased to 36 days 
  • Inventory levels continued to decline, down to 6,170 active listings and down to 5.2 months’ supply of inventory.

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. Wishing you and yours Happy Holidays from all of us here at Palm Beach Premier Real Estate… We’ll see you next time…