Palm Beach County Market Update!

More good news for Palm Beach County home and condo owners, home sales are up 16.2% and condos up 21.9%. Median prices are up nominally and days on the market are reduced considerably, representing the tight inventory in the area and the increased demand for Palm Beach County condos and homes. Supply for both Single Family Homes and Condos are below 5 months, and 6 months is considered a healthy market. This summer is a sellers market, to be certain.

Additionally, homes are fetching their asking prices. With a constrained inventory, you will find that homes fetch higher prices, and the demand is sustained. Last month NAR reported that home prices and sales were at levels not seen since 2006. Interest rates are slowly inching up, which is perpetuating first time home buyers to invest now, however with so little options for affordable housing and other homes on the market, homeowners are hesitant to sell. If you are looking to sell your home, contact a member of Luxury Partners today!