April 2023 Palm Beach County Market Update

Palm Beach County is currently witnessing a significant year-over-year increase in inventory, with 3,642 active listingsā€”an impressive surge of 69%. This expansion has led to the county's supply of inventory reaching 3.1 months, marking a substantial 121.4% rise compared to the 1.4 months recorded in 2022.

Commenting on this trend, Chris Krzemien, President of Broward, Palm Beaches & St. Lucie RealtorsĀ®, emphasizes that Palm Beach County has been experiencing a consistent growth in inventory throughout the year. As the moving season approaches and Florida attracts a high number of new residents, Krzemien emphasizes the importance of seeking the guidance of a RealtorĀ® who can navigate the current marketplace with the best interest of consumers in mind.

In terms of median home sale price, there has been a slight decrease of 2.7% since 2022, with the dollar volume also decreasing to $1.3 billion. The majority of active listings fall within the range of $600,000 to $1 million.

To ensure a smooth and successful home buying or selling process, it is advisable to reach out to a local RealtorĀ® who can serve as a trusted advisor. These professionals provide protection and guidance, safeguarding the interests of consumers throughout their real estate journey.

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