Market Report for Palm Beach County Single Family Homes March 2018

Real Estate Agent with Florida Supreme Realty SL514814

As our season begins to slow you may hear discussions about worsening market conditions, mortgage rate increases, less inventory, price drops, lengthier days to sell and close and so on. Watching this cyclical annual event excluding the "Bubble" of years gone by is all part of our local return to normalcy no more, no less. 



Market Summary                     March 2018          March 2017       % Change  Year/Year 

         Closed Sales                                    1,669                       1,676                           -0.4%

         Paid in Cash                                      625                       651                           -4.0%

         Median Sale Price                      $348,000                  $325,000                        7.1%

         Average Sale Price                     $580,913                  $516,919                      12.4%

          Percent of SP/LP                           94.7%                        94.5%                         0.2%

          $ Volume in Millions                   969.5                          866.4                        11.9%

          Median Days to Contract               56                               56                             0.0%

          Median Days to Closing                 99                               103                          -3.9%

          New Pending Sales                      2,072                           2,134                         -2.9%

          New Listings                                 2,278                           2,321                         -1.9%

          Pending Inventory                      3,206                           3,333                         -3.8%

          Active listing Inventory             7,333                           7,655                         -4.2%  

          Months Supply of Inventory        5.1                               5.2                          -1.9%


Please take these numbers with a grain of salt due to the local aspect of real estate. I have found that in alignment with the individuality of your home how persons analyze the market remains as disimmilar for each. Your neighborhood may experience averages greater or less than the percentages shown. Please consult with your agent for more specific activity relating to your home. Don't have anyone representing you? Please contact me anytime for more information about all of your real estate needs!

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Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Very well said, as people certainly tend to overreact to any sort of perceived shift in the market.

May 02, 2018 11:00 AM #1
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Kevin.  Thanks for keeping us informed about the single family real estate market in Palm Beach County.


May 03, 2018 05:15 AM #2
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Kevin J. May

Serving the Treasure & Paradise Coasts of Florida
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