Single family home sale remain strong in Palm Beach Gardens during January.
January home sales in Palm Beach Gardens were again solid tying for the 2nd highest monthly closing total since June of 2010. With the season in full force, these are the numbers I would expect and see continued strength in the weeks ahead. During January our local MLS system shows a total of 63 successful closings as of this mornings’ update. That compares with 68 sales in December but again at the higher end of 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. We had 8 sales with prices exceeding $1,000,000 which is very nice to see as we need to keep chipping away at inventory levels in the luxury home market. 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 I was hoping for a nice increase in the monthly median price. However, sales in the lower price categories were also extremely strong with 71% of all closings below $500,000. This put a drag on the median sales price for January which fell to $320,000 and the lowest monthly total sine June of last year. 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 Palm Beach Gardens and the surrounding areas.
Always at Your Service,
Tom Priester e-PRO
”Results Driven Real Estate”
Keller Williams Realty