January numbers play a significant role in Palm Beach County predictions for the year. To sell a high number of homes, you must first put a high number of homes on the market and 2013 held the lowest number of active listings in years. The good news is January consistently produces some of the highest numbers in new listings. Single family homes saw a 46.7 percent increase in new listings compared to December 2013 and a 24.7 percent increase compared to last January with a grand total of 2,733 new listings, the highest amount of new listings put on the market in one month over the past five years. For the past three years in the townhouse and condo category, January held the highest number of new listings for the entire year and once again January 2014’s new listings do not disappoint. Comparing January 2014 to all of 2013’s monthly statistics for new listings, January 2014 was higher than every month with the exception of January, but only lower by 0.7 percent.
With the start of January holding higher inventory levels and healthier average sale prices, 2014 is off to a great start. The busiest months of the year are around the corner and Palm Beach County has not seen a market with healthier parameters like we are currently experiencing in nearly a decade. With such positive statistics, the Palm Beach County Housing market is in for fair weather this spring with a busy “season” on the horizon with a spike in closed sales activity anticipated.
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