Single Family Home Sales in North Palm Beach Show Strength of Market
Last month we reported how sales had fallen during May as we transitioned from a very strong spring buying season into the summer months. Yesterday I started off the monthly updates with Hobe Sound and the numbers look excellent for June then followed up with Juno Beach condominium sales which were hardly stellar. As I start up again this morning Jupiter single home sales reported solid growth and now we report the same in North Palm Beach with a 30% jump over May numbers. During the month our local MLS system shows a total of 13 successful single family home closings in North Palm Beach as of this mornings’ update. That compares with 10 sales in May and a fantastic way to start summer here in Paradise.
While sales levels were great they remained entrenched in the lower price categories with over 84% of all sales falling below $365,001. The chart below shows the percentage of sales by price category for the month of June.
With the high percentage of sales in the lower pricing categories we should expect weak median sales prices figures and that is just what we got. June’s number came in at $239,900 and the 4th lowest showing of the past year. We were very happy to report over the weekend that foreclosure numbers were down for the 8th consecutive week which is the first step in getting prices to move higher. The chart below shows median prices on a monthly basis over the previous 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 throughout Palm Beach and Martin Counties.
Always at Your Service,
Tom Priester e-PRO
Results Driven Real Estate”
Keller Williams Realty