March 2023 Palm Beach County Market Update

The Florida Realtors has released their March 2023 Reports.

Palm Beach County is experiencing a 6.3% increase on the median home price year-over-year hitting $575,000. The county’s inventory also continues to climb.

“Palm Beach County’s increase in median home price and inventory has continued to rise from the start of the year,” says Chris Krzemien, President of Broward, Palm Beaches & St. Lucie Realtors®. “The county’s Q1 median home price increased 5.6% from 2022 with inventory rising 107.4% from Q1 of 2022. Working with a Realtor® that understands each transaction is a unique consumer experience that allows them to navigate the current marketplace with intentional levels of support, complexity and expertise.”

Inventory year-over-year in Palm Beach County is reporting 3,876 active listings from 1,869 in March 2022. The county’s supply of inventory reached 3.2 months compared to 1.2 in 2022. Contact a local Realtor® today to work with trusted advisors that both protects and guides consumers during the home buying and selling process. 

Review February report here: February 2023 Market Report - Click Here

Interested in commercial real estate, learn more here: Frette Commercial - Click Here

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