The August 2023 Market Update indicates that in Palm Beach County, the months supply of inventory has stayed at 2.9 months from July to August, representing a 7.4% increase from August of last year. The median sale price in the county has risen by 7.1% from last year to $605,000, but has remained relatively stable compared to the previous month.
Housing transactions in Palm Beach County increased by over 7% this month compared to the previous month. According to Chris Krzemien, the President of Broward, Palm Beaches & St. Lucie Realtors®, the median days to contract continued to increase, reaching 24 days as buyers sift through the current inventory. The unique needs of this region demand different levels of support, complexity, and expertise, which Realtors® understand and are equipped to provide.
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Please call Barry Frette at 561-880-5587 for more information about the August 2023 Market Update.
Read July market reports here: Click Here
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