Just in! Newly released market reports from Florida Realtors® detailing recent real estate activity in the Palm Beaches. The reports compare year-over-year data for January. Here are statistics on single family homes.
“Last year’s trend of monthly increases in closed sales and median price looks to be continuing into 2021! The steady rise in both categories along with a low supply of inventory should have homeowners ecstatic for the year ahead. In January, we saw the median price rise 16.3 percent to $422,000 while closed sales increased 5.5 percent to 1,154,” said Karen Johnson, President of Broward, Palm Beaches & St. Lucie Realtors®.
Median sale price is our preferred summary statistic for price activity because, unlike average sale price, median sale price is not sensitive to high sale prices for small numbers of homes that may not be characteristic of the market area.
“The low inventory levels of 2.3 months are causing homes to be sold at an astonishing quick rate. The median days on market in January for Palm Beach was 27 days, a 48.1 percent decrease year-over-year. Also, migration reports suggest that 2021 is going to be another huge year for growth in Florida. As more prospective buyers flock to Florida, make sure you have a professional working for you. Contact a local Realtor® today for guidance on all real estate transactions,” continues Johnson.
Days on market measures the number of days between the initial listing of a property and the signing of the contract which eventually led to the closing of the sale.
Barry is a resident of Delray Beach and a Realtor for William Raveis South Florida.
He works with buyers and sellers of Luxury Properties & Residential real estate with focus on Delray Beach in Palm Beach County. Frette was born and raised in Miami but left in 2004 and now am a happy resident of Delray Beach, Florida. He is available 24/7 and goes the extra mile to take care of his clients.
For commercial, he specialize in Retail, Office, Industrial and Land properties. He has a strong network of buyers and sellers, as well as access to the national and local databases. Barry can help you find a site or property to purchase, choose a building or space to lease for your business, market your property to find a tenant, or leverage the Raveis marketing team to help you divest of your property.
When assisting residential clients, he relishes developing long lasting relationships and takes the time to fulfill the goals of his clients.
Whether looking for the perfect home to buy or rent, or whether you are selling, Barry takes his time to get the job done efficiently and it will be reflected the first day he begins working with you on your journey.
Selling a real estate asset on your own can be an overwhelming task. There's advertising to plan and budget for, private showings to arrange, purchase offers to negotiate, contract contingencies to worry about, and complicated paperwork to fill out. Make it easy on yourself by putting your property in the hands of seasoned professionals. We have extensive experience marketing properties and showing them to their best advantage.