Market Update May 2020

“Promising news for Palm Beach County! Despite the pandemic, real estate market values are holding steady at $365,000. Most would assume that the market would be derailed after the past few months, but this just goes to show how resilient our county is. If you’re looking to sell, there are also fewer competing properties right now and fewer days on market. Meanwhile, we did see a decrease in closed sales by 47 percent, which is understandable as many closings were postponed due to COVID-19. However, with the reopening Palm Beach County, I expect to see the market begin to normalize as summer progresses. I encourage all residents to contact a local Realtor® if they are interested in buying or selling. Realtors® are going above and beyond to follow CDC Guidelines and are equipped to help you buy or sell in all market conditions," said Jarrod Lowe, President of Broward, Palm Beaches & St. Lucie Realtors®.

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