Monthly Indicators NORTH PALM BEACH COUNTY
December 2019
Quick Facts
In 2019 home prices were up again in most markets. Buyer demand continues to be strong but with tepid seller activity still in many locations, total sales are lower than they would normally be in a more balanced market. While up from their recent lows a few months ago, mortgage rates end the year close to three-quarters of a percent lower than a year ago, helping to improve affordability and offset rising home prices. New Listings decreased 2.6 percent for Single Family homes and 0.4 percent for Townhouse/Condo homes. Pending Sales decreased 2.2 percent for Single Family homes and 4.0 percent for Townhouse/Condo homes. Inventory decreased 19.8 percent for Single Family homes and 11.3 percent for Townhouse/Condo homes. Median Sales Price remained flat at $375,000 for Single Family homes but increased 12.5 percent to $205,000 for Townhouse/Condo properties. Median Time to Contract decreased 32.6 percent for Single Family homes and 18.9 percent for Townhouse/Condo homes. Months Supply of Inventory decreased 22.8 percent for Single Family homes and 11.1 percent for Townhouse/Condo homes. With low mortgage rates, low unemployment, and continued wage growth, home buyer activity is expected to remain healthy into the new year. New construction has been on the rise in 2019 and is expected to continue into 2020, but many experts note that the country is still not building enough new units to quench demand. It remains to be seen whether existing homeowners will be enticed to sell by higher home prices, which could finally bring the overall housing market into greater balance.
+ 9.0%
+ 4.9%
- 15.9%
Change in Closed Sales All Properties
Change in Median Sales Price All Properties
Change in Homes for Sale All Properties
This is a research tool provided by the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. Percent changes are calculated using rounded figures.
Single Family Market Overview Townhouse/Condo Market Overview Closed Sales Median Sales Price Average Sales Price Dollar Volume of Closed Sales (in millions) Percent of Original List Price Received Housing Affordability Index Median Time to Contract Pending Sales New Listings Inventory of Homes for Sale Months Supply of Inventory Total Market Overview
2 3 4 5 6 7 8 9 10 11 12 13 14 15
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime.