Data courtesy of floridarealtors.org
North Palm Beach County
U.S. existing-home sales rose 3.4% month-over-month and 2.9% year- over-year to a seasonally adjusted annual rate of 3.96 million units, exceeding economists’ expectations for the month and marking the first annual gain since July 2021, according to the National Association of REALTORS® (NAR). Lower mortgage rates in late summer and early fall helped sales increase across all four regions.
New Listings increased 7.0 percent for Single Family homes and 9.3 percent for Townhouse/Condo homes. Pending Sales increased 3.9 percent for Single Family homes but decreased 14.3 percent for Townhouse/Condo homes. Inventory increased 14.6 percent for Single Family homes and 44.8 percent for Townhouse/Condo homes.
Median Sales Price decreased 4.4 percent to $688,500 for Single Family homes and 3.8 percent to $325,000 for Townhouse/Condo homes. Median Time to Contract increased 59.1 percent for Single Family homes and 91.3 percent for Townhouse/Condo homes. Months Supply of Inventory increased 21.3 percent for Single Family homes and 69.4 percent for Townhouse/Condo homes.
The number of homes for sale continues to improve nationwide, climbing 0.7% month-over-month and 19.1% year-over-year to 1.37 million units heading into November, for a 4.2-month supply at the current sales pace, according to NAR. Despite a wider selection of properties on the market, sales prices have remained strong at the national level, with a median existing-home price of $407,200 as of last measure, a 4% increase from the same time last year.
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Jupiter Dream Life
Heather E Towe, PA
Assistant Broker, REALTOR®, CRS®, CLHMS®, e-PRO®, PSA®
Real Estate Services
Residential real estate representation in Palm Beach County and surrounding areas.
(561) 247-4474
hello@jupiterdreamlife.com
Licensed to sell real estate in Florida
Paradise Real Estate International
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