June 2023 Market Update Palm Beach County

The June 2023 Market Update indicates that the amount of inventory available in June increased, with the supply of inventory compared to the same time last year now at 3 months, which is a 30.4% rise from June 2022. The median sale price has remained mostly steady, with only a 0.8% increase since 2022, putting it at $625,000.

According to Chris Krzemien, the president of Broward, Palm Beaches & St. Lucie Realtors®, the June 2023 Market Update shows that the median time it takes to sign a contract has increased by 116.7% to 26 days in comparison to the market in June 2022 which was only 12 days. It is crucial for buyers to seek help from a local Realtor® while navigating through the current inventory to find their desired home. This will ensure that both buyers and sellers experience the highest level of transparency, choice, and efficiency through independent, local broker marketplaces.

Get in touch with a nearby Realtor® now! Realtors® work together as a team of professionals to offer vital services, including specialized knowledge and expertise, to cater to the needs of both homebuyers and sellers. Visit OnlyARealtor.com to discover more about how Realtors® can assist you.

Here are the June 2023 Market Update reports for each specific area (Boca Raton, Boynton Beach, and Delray Beach) Please click on the images below to view the full-size report.

Read May market reports here: Click Here

Need assistance with commercial transactions? Click here: Frette Commercial

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