Just in! Newly released market reports from Florida Realtors® detailing recent real estate activity in Palm Beach County. The reports compare year-over-year data for June. Here are statistics on single family homes.
“Median housing price flattened in June. In the span of a year, home values went up only 0.6 percent from $355,000 to $356,990. This is a welcome relief for buyers and a caution to sellers who may be overpriced,” said Jeffrey Levine, President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale and the South Broward Board of Realtors®.
Although median sale price slightly increased, closed sales decreased 6.3 percent year-over-year from 1,805 to 1,692. Closed sales are one of the simplest yet most important indicators for the residential real estate market.
“Buying or selling a home is the biggest financial decision most people make in their lifetime. Be sure to utilize the expertise of a local Realtor®,” continues Levine.
It’s important to get a full understanding of the current market conditions and where they are heading. A local Realtor® has the tools to show you how to appropriately go about buying or selling in the South Florida market.