SELLER’S MARKET! Palm Beach County House Sales Soar, Inventory Drops

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BOCA RATON, FL (BocaNewsNow.com) — The just-out Elliman Report reveals that it is very much a good time to sell your home in Palm Beach County. The issue, however, is finding another place to live.

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According to the report, prepared by Miller Samuel Real Estate Appraisers and Consultants, single family home sales in Palm Beach County rose significantly in almost all price points year to year. Among the standouts: The number of new signed contracts for homes valued at more than $1M rose 168.6 percent from November of 2019 to November of 2020. The number of new signed contracts for homes in the $800k-$999k range rose 130.8 percent. For homes valued in the $600k-$799k range, the jump is legitimately huge: 211.1 percent.

Conversely, the number of homes for sale is plummeting. The number of new homes for sale valued at $1M+ dropped 14.4 percent year to year. For homes valued $800k to $999k, the decline is 8.5 percent. For homes valued under $200k, the decline is 51.9 percent. However, there are a few areas of increase. Homes valued in the $600k-$799k range are more plentiful — new listings rose by 35.4 percent. Homes valued in the $400k to $499k range saw an increase in new listings at 43.1 percent.

Read the complete report, below. It includes Palm Beach County, Miami-Dade, Broward County, and several areas on Florida’s west coast.

If you are reading this in a news app, visit BocaNewsNow.com to access the document, below.



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