Monday, January 27, 2025 / by Tov Charm
Palm Beach County Real Estate Market Summary: December 2024
The December 2024 real estate market in Palm Beach County revealed significant trends across single-family homes and townhomes/condos. Here’s a comprehensive analysis of the data, highlighting key changes and their implications for buyers and sellers.
Single-Family Homes
Key Statistics:
Closed Sales: 1,032 (up 6.5% YoY)
Median Sale Price: $622,500 (up 7.3% YoY)
Average Sale Price: $1,066,261 (up 14.6% YoY)
Dollar Volume: $1.1 billion (up 22.1% YoY)
Median Time to Contract: 41 days (up 41.4% YoY)
Months Supply of Inventory: 5.1 months (up 27.5% YoY)
Analysis:
The single-family home market remains competitive, with a notable increase in both median and average sale prices. The rise in inventory (+27.5%) provides more options for buyers, but the extended median time to contract suggests buyers may have more negotiation power compared to last year. However, with closed sales up 6.5%, demand remains robust.
Townhomes and Condos
Key Statistics:
Closed Sales: 654 (down 18s ...
Single-Family Homes
Key Statistics:
Closed Sales: 1,032 (up 6.5% YoY)
Median Sale Price: $622,500 (up 7.3% YoY)
Average Sale Price: $1,066,261 (up 14.6% YoY)
Dollar Volume: $1.1 billion (up 22.1% YoY)
Median Time to Contract: 41 days (up 41.4% YoY)
Months Supply of Inventory: 5.1 months (up 27.5% YoY)
Analysis:
The single-family home market remains competitive, with a notable increase in both median and average sale prices. The rise in inventory (+27.5%) provides more options for buyers, but the extended median time to contract suggests buyers may have more negotiation power compared to last year. However, with closed sales up 6.5%, demand remains robust.
Townhomes and Condos
Key Statistics:
Closed Sales: 654 (down 18s ...
