The newest year-to-year marketing report from the Florida Association of Realtors shows a double digit increase in closed sales on single-family homes $600,000+ in Palm Beach County.
When comparing year-to-year numbers in January, we see that the overall inventory in Palm Beach County is down and median sale price has gone up. This is a good incentive for those thinking of listing and also a nudge for potential buyers to hop to it.
Closed sales in January were 1,103 in 2018 and 1,146 in 2017, a 3.8% decrease.
In the luxury category however, closings on residential homes $600,000-$999,999 increased 11.8% and home sales in the $1 million+ increased a whopping 28.4%.
Jeffery Levine, President Elect of Realtors of the Palm Beaches & Greater Fort Lauderdale, says this is a remarkable increase in the $1 million+ and to anticipate continued robust activity throughout the coming months.
Contract time is also down 15.8% to an average of 48 days, good news for both buyers and sellers.
If you're interested in selling your luxury home, contact Rob Thompson at email@example.com.