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 SEPTEMBER 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: Home sales are back to Double-Digit gains across Palm Beach County with a 13% increase year-over-year.
Per the Realtors® Association of the Palm Beaches the clear message is that:
“The market indicator for home sales in September may dip slightly in October if a substantial number of closings are delayed due to the recent closing procedure changes which affect borrowers. It is recommended that borrowers work closely with their lenders and title companies, who are well-prepared for tehse changes, to prevent closing delays”
So, taking a look at the local market statistics for last month:
- Closed sales rose 12.8% from to 1,529 transactions,
- Median sale price climbed 5.9% to $285,000,
- The average percent of list price received bumped up 1.1% to 94.0%.
Meanwhile, median days on market and inventory levels continued to decrease.
- Median days on market declined 35.2% to 35 days,
- Active listings decreased 6.9% to 6,811 listings,
- And months’ supply of inventory diminished 20.2% to 4.5 months.
For townhouses/condos, we also saw similar year-over-year trends.
- Closed sales rose 16.2% to 1,183 transactions,
- Median sale price climbed 15.5% to $145,500.
Median days on market and inventory levels continued to decrease.
- Median days on market declined 28.6% to 45 days,
- Active listings decreased 8.3% to 5,465 listings,
- And months’ supply of inventory diminished 12.7% to 4.6 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