Palm Beach County Market Update! Feb. 2016

Palm Beach County home and condo sales have slightly dropped for the month of February. Home sales are down 5.1% and condos down 6.1%. Median prices are up 10.5%, which indicates tight inventory in the area and the increased demand for Palm Beach County condos and townhomes. Supply for both Single family Homes and Condos that are below 5 months and 6 months is considered a healthy market. Additionally, homes are remaining to sell for their asking price. With such a constrained inventory, you will find that homes fetch higher prices for which the demand remains sustained. If you are looking to sell your home, contact a member of Luxury Partners Realty today!