North Palm Beach Single Family Home Sales Remain Steady
February single family home sales in North Palm Beach were respectable in number with a slight drop from January levels. During February our local MLS system shows a total of 6 successful closings as of this mornings’ update. That compares with 7 sales in January and the lowest monthly numbers since November of last year.
While sales last month were steady they were heavily positioned in the less than $150,000 price category where we saw 50% of all sales during the month. With no sales above the $750,000 price point we need to see an uptick here in the coming months to start chipping away at some of those higher inventory levels. The chart below shows the percentage of sales by price category for the month of February.
With half of all sales below $150,000 and none above $525,000 one would expect a collapse in the monthly median sales price. In fact, the median price of a North Palm Beach single family home fell to $245,000 in February from $500,000 in January and the lowest monthly total since November 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 firstname.lastname@example.org 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