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January 2014 Market Report For Palm Beach County Florida

By
Real Estate Agent with KW of the Palm Beaches BK3102116
January 2014 Market Report For Palm Beach County Florida

 
South Florida house prices increased in January -- and so, too, did listings as more sellers showed confidence in the revitalized market.  Palm Beach County’s median price for existing single-family homes last month was $255,000, up 17 percent from a year earlier, the Realtors Association of the Palm Beaches said Friday.  Palm Beach County had 1,014 home sales last month, up 5 percent from January 2013.
 
Buyers, meanwhile, are starting to find more for-sale signs in front yards.  Palm Beach County had 7,218 homes on the market at the end of last month, up 7 percent from a year earlier.  A dearth of homes for sale last year led to bidding wars and steep price increases that gave sellers a decided edge on buyers.  More homes for sale will help restore balance to the market, slowing the sales pace but keeping prices from soaring out of reach for first-time buyers and young families, analysts say.
 
The rise in listings is due in large part to homeowners seeing their values jump. Many “underwater” borrowers who once owed more than their homes were worth now have enough equity to sell.  Markets across Florida and much of the country also are seeing more sellers test the market. Stan Humphries, chief economist for real estate website Zillow.com, said in a statement this is “another step on the road back to normal and will help offset the impact of rising mortgage rates and more expensive homes for buyers.”
 
 

 
(click graph for larger view)




 
(data from www.floridarealtors.org/)
 
The data above represent Palm Beach County for January 2014.
Would you like to know what is happening in your neighborhood?
Would you like to know the value of your home?
Do you need help deciding whether to sell or not or would you like to know if now is the right time to buy?


I am very happy to get you this information.
 
 
Thank you,
 

Comments (5)

Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks for the update, Mark.  I love the Florida Realtor market data they provide.

Feb 28, 2014 09:25 PM
Mark Loewenberg
KW of the Palm Beaches - Palm Beach Gardens, FL
KW 561-214-0370

They are super reports Gabe!

Mar 01, 2014 08:53 AM
Margaret Goss
@Properties - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

It's so good to see that the Florida real estate market is recovering.  My friends had a condo in Miami that sold in 1 day!

Mar 01, 2014 10:03 AM
Mark Loewenberg
KW of the Palm Beaches - Palm Beach Gardens, FL
KW 561-214-0370

excellent point Margaret!

Mar 01, 2014 11:00 PM
1~Judi Barrett
Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Mark,

Great information illustrated with graphs, charts, and texts.  You're the go to person for real estate information in Palm Beach County Florida.

Mar 02, 2014 08:29 AM