Fewer sales in North Palm Beach during January, but they were good ones!
January home sales in North Palm Beach were respectable in number with the number of luxury homes closing bringing us to the highest monthly median price since March of last year and that was certainly an abnormal month. During January our local MLS system shows a total of 7 successful closings as of this mornings’ update. That compares with 14 sales in December but within the range we have been seeing over the past 7 months.
While sales last month were steady they were also across spread across all price categories with the exception of the $750,001 to $1,000,000 category. The fact that we are seeing more spending in the higher end of the housing spectrum is a very good sign as we move forward. The chart below shows the percentage of sales by price category for the month of January.
With solid sales in almost all price ranges and a great showing at the top end of the market we saw a very healthy increase in the monthly median price. In fact, the median price of a North Palm Beach single family home jumped to $500,000 in January from $450,000 in December and the highest monthly total in 10 months. The chart below shows median prices over the preceding 12 month period.
I watch these market trends very closely as the data is very important to our clients, whether they are buying or selling, to paint a picture of where the market may be heading. If you would like any additional information on a specific home, neighborhood, or community please feel free to contact me. I am easily reached at 561 308-0175 or via e-mail at email@example.com and would be happy to be of assistance with any of your real estate questions. After just one call you will know why “Results Driven Real Estate” is your top choice for professional real estate services in North Palm Beach and the surrounding areas.
Always at Your Service,
Tom Priester e-PRO
“Results Driven Real Estate”
Keller Williams Realty