Realtor Group Says Prices Heading Up In Palm Beach County

WEST PALM BEACH, FL ( — Potentially good news for homeowners in Palm Beach County — the value of your home may be going up. While we offer the caveat that this information is coming directly from the Realtor’s Association of  the Palm Beaches, the group says that the cumulative median sales price of single family homes, townhomes and condos in Palm Beach County was up 2.5-percent from February 2011 — inching from $122,000 to $125,000. The median single-family home price, according to the group, jumped from $175,000 to $190,000.

Read on for the information directly from the Realtor’s Association of the Palm Beaches:

Total inventory of homes for sale declined 40.0 percent from 24,565 a year earlier to 14,743 and decreased 7.7 percent from the previous month.  Inventory of single-family homes for sale shrank 37.4 percent, from 11,975 a year earlier to 7,501, and down 7.4 percent from the previous month.

Total February cumulative pending home sales, including single-family homes, townhomes and condominiums in Palm Beach County, were 53.4 percent above February 2011, up from 2,391 to 3,667, and 25.8 percent from the previous month.    

 Cumulative pending condominium and townhome sales in Palm Beach County increased 31.6 percent up from a year earlier and 24.9 percent compared to the previous month.  Cumulative pending single-family home sales rose 82.6 percent from 1,020 a year earlier and 26.6 percent compared to the previous month.

 Total cumulative closed sales, including single-family homes, townhomes and condominiums in Palm Beach County, showed a slight decline from 1,774 a year earlier to 1,737 and increased 13 percent compared to the previous month.  

“Pending and closed sales are moving in an upward direction in Palm Beach County, which is very reassuring,” said Bonnie Lazar, President of the Realtors® Association of the Palm Beaches. “In addition, February’s median sales price, based on all properties, is up from the previous month and the inventory of homes for sale is down.  This clearly illustrates that Palm Beach County is experiencing a mini-recovery and better times are ahead.”       


Distressed Properties

There are nearly 77 percent fewer foreclosures on the market in February than at the peak in 2009.  Exactly 20.3 percent of all closings were in financial distress in January 2012, which is on par with late 2008 levels.

 According to Tim Harris, President-Elect of the Realtors® Association of the Palm Beaches, “The decrease in inventory of lender-mediated properties has contributed to overall on-going stabilization of the local housing market and substantial increase in the number of new traditional listings.”

 By comparison, a lesser 19.1 percent of all new listings were lender mediated. Based on all properties, inventory of lender-mediated homes for sale declined 71.3 percent year over year down from 6,810 to 1,957 and 15.9 percent from the previous month. Inventory of lender-mediated single-family homes for sales shrunk 66.5 percent, from 3,559 a year earlier to 1,191 and decreased 34.5%from the previous month.        

 The Realtors® Association of the Palm Beaches, “The Voice of Local Real Estate,” represents over 7,500 members involved in all aspects of the residential and commercial real estate industries.

----------------------------------------LYFT PROMO CODE--------------------------------------
Use our Lyft promo code BNN123 for substantial discounts for your first Lyft rides. Enter the code in your app, or just click here.

---------------------------ABOUT BOCANEWSNOW.COM----------------------- is the leading hyper-local news website based in and serving Boca Raton, Florida and South Palm Beach County. Our pages have been visited millions of times since our first post on October 4th, 2011. We have a verified history of reporting news, providing opinion and snark. is NOT a mugshot website. We have never charged and DO NOT charge for mugshot removal. We are a news organization registered with the State of Florida and exempt from Senate Bill 118. We publish arrests of note provided to us by law enforcement under Chapter 119 of Florida Statutes. While we review all requests for removal, we are not obligated to remove reports that are a part of the public record.

When removal is appropriate, we do so at no charge. We do not accept payment for mugshot or arrest report deletion.

We are cognizant of the impact an arrest may have on one's life. If you are exonerated or if charges are dropped, please contact us to request an appropriate update to or removal of a specific story. We remind our readers that an arrest is an accusation. Guilt or innocence is determined in a court of law. Email us at news (at) or telephone 561-419-9520.

All Content Copyright © 2017 MetroDesk Media, LLC. All Rights Reserved.