New Report: All Price Points Down For Signed Contracts, New Listings.
BY: ANDREW COLTON | Editor and Publisher
BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2023 MetroDesk Media, LLC) — The latest Douglas Elliman report prepared with data from Miller Samuel Real Estate Appraisers and Consultants shows that Palm Beach County continues to be as underwater as a two year old’s pacifier being washed out to see by a wave on a Boca Raton beach.
Newly signed contracts, when comparing May of 2023 to May of 2022, are down double digits in all but one price point. For homes under $300k, new listings dropped 27-percent. For homes between $300k and $399k, the drop is 29-percent. For homes between $400k and $499k, the drop is 18 percent.
In higher priced homes, the drop continues. Newly signed contracts are down 22.5-percent for homes valued between $500k to $999k, it’s down 20-percent for homes in the $1M to $2.99m range, and down 8.3-percent for homes between $3M and $4.99M.
New listings are also down an average of 22.4 percent in all price points, when comparing May of 2023 with May of 2022.
