Palm Beach County Home Prices Sales In Holding Pattern

Palm Beach County Home Prices Sales In Holding Pattern

Palm Beach County’s home prices and sales volumes are in a holding pattern, according to statistics released Wednesday by the Realtors Association of the Palm Beaches.

The median price of a house sold in January was $310,000, down a bit from December but up 9 percent from a year ago. House sales totaled 1,146, also down from December but up from a year ago.

The supply-and-demand balance continues to shift away from the strong buyer’s market of recent years. There was a 5.3-month supply of houses for sale last month, up 10 percent from a year ago. And the typical listing needed 57 days to find a buyer willing to sign on the dotted line, also up 10 percent.

As for condos and townhouses, the median price of a unit sold last month was $150,000 — the lowest level since February 2016.

The Realtors Association also releases city-by-city breakdowns of median price. Here are the regions that reported 50 or more sales last month — and a caveat that the median price combines houses and condos:

  • Boca Raton: $306,000, up 7.4 percent from January 2016.

  • Boynton Beach: $221,500, up 8.1 percent from January 2016.

  • Delray Beach: $180,000, up 33.3 percent from January 2016.

  • Greenacres: $125,505, up 9.6 percent from a year ago.

  • Jupiter: $335,750, up 3.8 percent from a year ago.

  • Lake Worth: $207,500, down 3 percent from a year ago.

  • Palm Beach County: $238,000, up 5.8 percent from a year ago.

  • Palm Beach Gardens: $334,250, up 6.1 percent from a year ago.

  • Wellington: $339,000, down 5.8 percent from a year ago.

  • West PalmBeach: $160,000, up 6.7 percent from a year ago.

 


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Dated: March 2nd 2017
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