This month’s Palm Beach County real estate market update continues the trend of area home prices dropping and sales increasing, and as we head into the height of the spring season, it’s likely we’ll continue to see sales numbers grow with the inevitable increase in mortgage rates right around the corner.
Earlier this week, the Realtors Association of Palm Beaches released February sales data, which shows 1,231 single-family homes being sold last month, with approximately 45% of those closings in all cash sales.
According to the data, these latest numbers show sales volumes are up a whopping 34% from last February, but the median price for a single-family home in Palm Beach County has fallen 9% from 2013 to $270,000.
Inventory for Palm Beach County
