Palm Beach County Home Prices

Palm Beach County Home Prices

Palm Beach County home prices reached their highest level in nearly a decade in June, when the median price of houses sold by Realtors rose to $345,000.

The typical sale price jumped nearly 8 percent from a year ago, a robust level of appreciation that’s renewing boomtime concerns about housing affordability in Palm Beach County.

READ ALSO: Palm Beach mansion prices bounce back

The county’s median home price last topped $345,000 in late 2007. Back then, prices had been inflated by loose lending standards and a speculative frenzy. Today’s price rise is driven by economic fundamentals.

“It’s a supply-and-demand factor, and there’s still a lack of inventory,” said Jeffrey Levine, first vice president of the Realtors of the Palm Beaches and Greater Fort Lauderdale and a broker at Continental Properties in West Palm Beach.

RELATED: Amid affordability squeeze, builder markets $300,000 houses

The inventory of houses for sale fell slightly to just over 7,000 listings, the Realtors Association of the Palm Beaches and Greater Fort Lauderdale said Monday. That’s just a 4.7-month supply of homes.

While declining inventories would seem to reflect a raging seller’s market, there also are signs that buyers are pushing back. Houses are taking longer to sell, as reflected by an increase in the median time to contract of 46 days, up from 43 days in June 2016. And homes sold for just 94.7 percent of their list price, down from 94.9 percent a year ago.

Sheryl Volk Headshot
Phone: 561-389-8670
Dated: August 2nd 2017
Views: 92
About Sheryl: ...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Oct 22 2018 58263 2 - Interest rates to return to
Oct 22 2018 58263 1 - Freddie survey: Renters think
Oct 20 2018 61269 1 Renovations On Homes - In love with that shiny new marble
Is The Increase In Inventory A Bullish Or Bearish Sign For Real Estate - The increase in housing inventory

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Exit Realty Premier Elite
8961 Hypoluxo Road
Lake Worth, FL

Other Locations