If you’ve been reading along for the past few months, you know how strong the real estate market is in Palm Beach County and Martin Counties right now. And there’s no sign of it slowing down anytime soon.
As snowbirds reconsider making their annual trip north for the summer, more northerners are also moving to Florida faster than ever before.
Despite the ongoing pandemic and a struggling employment outlook, Florida’s housing market closed December with more closed sales, more new pending sales, higher median prices and more new listings compared to a year ago, according to Florida Realtors® latest housing data.
Florida’s luxury market led the way throughout the second half of 2020. Combined with the overall increase in home value appreciation across, it resulted in a dollar volume of sales in 2020 that was far greater than in 2019.
The most impressive statistics of December 2020 compared to 2019 for Single Family Existing Homes to note are:
- Single-family existing home sales rose 25.6% in Palm Beach County with a median sale price of $425,000 (16.8% increase) and 35.1% in Martin County with a median sale price of $400,000 reflecting an 8% increase.
- Sellers in Palm Beach County are receiving the listed price 94.7% of the time, while 97% of Martin County sellers receive the listed price.
- The median number of days from listing to contract decreased in by almost 35% in Palm Beach County from 43 days to only 26 days! In Martin County, the number of days from listing to contract decreased by 53.7% from 41 to 19 days!
You don’t need to be a math whiz to read just a few of these statistics to know that now just may be the time to sell your home at the best market value and it would be my pleasure to answer any of your questions.
I’m happy to review with you further data on townhomes, condos and other local areas – just give me a call!