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 JUNE 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: Closed sales increased 16% and market conditions in Palm Beach County are heating up
Per the Realtors® Association of the Palm Beaches the clear message is that: “This summer is an opportune time for Palm Beach County sellers to list with confidence. Inventory is low, and buyer demand is strong.”
We saw continued sharp declines in median days on market and months’ supply of inventory. So if you’re thinking of selling your home, getting an UPDATED market analysis in this accelerating market is important in understanding current home values.
So, taking a look at the local market statistics for last month:
The Palm Beach County market has continued to accelerate, according to year-over-year statistics for June.
For single family homes, median days on market dropped a whopping 24.5 percent down to 40 days!.... and closed sales increased by 16.2% to nearly 2,000 transactions.
Median sale price rose 3.4 percent to $305,000.
Within the breakdown, some noteworthy leaps, included a 35.4 percent increase in sales between $250,000 and $299,999 and a 51.8 percent increase in sales between $600,000 and $999,999
As for inventory levels, months’ supply declined for the fifth consecutive month, and this time, significantly at 21.9 percent down to 4.5 months.
For buyers, this means a 7.4 percent decline in active inventory to shop from down to 6,726 active listings.
For townhouses/condos, we also saw similar year-over-year trends.
Closed sales increased 21.9 percent, and median sale prices jumped 8.3 percent.
Meanwhile, median days on market dropped 16.4 percent down to 46 days and months’ supply of inventory decreased 8.1 percent 4.9 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