WASHINGTON, D.C. – October 23, 2015 – (RealEstateRama) — September year-over-year statistics for single family homes revealed increases in closed sales, median sale price, and average percent of original list price received. Closed sales rose 12.8% from 1,355 to 1,529 transactions, median sale price climbed 5.9% from $269,200 to $285,000, and average percent of list price received bumped up 1.1% from 93.0% to 94.0%. Meanwhile, median days on market and inventory levels continued to decrease. Median days on market declined 35.2% from 54 to 35 days, active listings decreased 6.9% from 7,316 to 6,811 listings, and months’ supply of inventory diminished 20.2% from 5.6 to 4.5 months.
“Although the number of Palm Beach County home sales increased only 1% for August, we are back to a double-digit gain for September with 13% year-over-year. However, this market indicator may dip slightly for October if a substantial number of closings are delayed due to recent closing procedure changes which affect borrowers. We recommend that borrowers work closely with their lenders and title companies, who are well-prepared for these changes, to prevent potential closing delays. For more information about these changes, a helpful infographic can be downloaded fromwww.SouthFloridaPropertyMatch.com,” said Matt Halperin, 2015 President of the Realtors® Association of the Palm Beaches (RAPB).
As for the townhouse/condos sector, statistics revealed similar market indicators with increases in closed sales, median sale price, and average percent of list price received. Closed sales rose 16.2% from 1,018 to 1,183 transactions, median sale price climbed 15.5% from $126,000 to $145,500, and average percent of list price received bumped up 0.9% from 91.3% to 92.1%. Meanwhile, median days on market and inventory levels continued to decrease. Median days on market declined 28.6% from 63 to 45 days, active listings decreased 8.3% from 5,958 to 5,465 listings, and months’ supply of inventory diminished 12.7% from 5.3 to 4.6 months.
For detailed information about market statistics for Palm Beach County, find your local REALTOR® match today by visitingwww.SouthFloridaPropertyMatch.com.
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About the Realtors® Association of the Palm Beaches (RAPB): RAPB is the 6th largest local association in the country representing over 14,000 REALTOR® members involved in all aspects of residential and commercial real estate throughout Southeast Florida. RAPB members are “The Voices for Local Real Estate,” providing consumers with real insight on the homeownership process with data accuracy and market expertise. Many of their members also engage in one or more divisions offered through RAPB, including the REALTORS® of St. Lucie County (RSLC), REALTORS® Commercial Alliance, the Young Professionals Network, and the award-winning Global Business Alliance. Consumers will find their perfect, local REALTOR® match from RAPB by visitingwww.SouthFloridaPropertyMatch.com.