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2nd Quarter 2014 LOCAL MARKET UPDATE

Posted by zzz - Lorea Thomson on Tuesday, August 19th, 2014 at 12:05pm.

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The Realtors Association of the Palm Beaches releases statistics of all aspects of residential and commercial sales in our area.   The organization released the following statement:

    “The second quarter of every year is historically the busiest quarter of the entire real estate season; however due to a recovered economy, the second quarter of this year has set a brand new precedent in the single family homes category.  Townhomes and condos also had a strong showing, but inventory isn’t high enough to produce record setting closed sales.  The high demand to live in one of the most beautiful places on earth is also driving average and median sale prices up for single-family homes as well as townhouses and condos. “

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2nd QTR 2014 SINGLE FAMILY HOMES


                CLOSED SALES                                                   UP   12.6%


                MEDIAN PRICE                                                      UP     5.2%


                MEDIAN DAYS ON MARKET (53)                             DOWN   18.5%


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 2nd QTR 2014 TOWNHOUSES/CONDOS


               CLOSED SALES                                                    DOWN    10.7%                             (Lack of townhouse/condo inventory restricting closed sales.)

                                                                                                             

                MEDIAN PRICE                                                       UP      18.4%


                MEDIAN DAYS ON MARKET (54)                           DOWN    11.5%


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Please contact the specialists at Waterfront Properties and Club Communities allow them to share their keen insight of the local market and discuss how it pertains to properties of interest by sending an email to: ROBTHOMSONTEAM@wfpcc.com or by calling 561-746-7272.

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