Palm Beach County Market Report from Luxury Partners

Luxury Partners is pleased to offer the Palm Beach County real estate market update for May. Single family home sales are up slightly by 6% with the median price also up by 4.8% and days on the market down by 25%. Inventory is down by 6% and months supply is down even more substantially by 21.1%. These numbers show that homes are still in demand from buyers and homes are selling at higher prices within much less time on the market. Timing is ripe for selling homes in Palm Beach County.

Palm Beach County condominium sales are similar, however the inventory is not as contructed. Closed sales are down 8% from 2014 and prices are up by 12% with 9.3% less days on the market. Inventory is down by 6% and the months supply of inventory is down by 3%. While not as constricted as single family homes, Palm Beach condominiums are still in demand and it would be a great time to list your condominium with Luxury Partners.