The median price for single-family homes sold in Palm Beach County in April was $265,000, which represented an increase of 26.2% compared to April 2012. There were 1,403 homes sold in April, which is an increase of 14.1% compared to April of last year. The number of homes actively on the market dropped to 6,252; a decrease of 3.8% from this March and 43.3% compared to this time last year!
Based on the current rate of sales and the number of homes available, there is currently 5.3 months of inventory available compared to 10.5 months of inventory a year ago. Hopefully we will see more homes hit the market in the next month or two as many sellers take advantage of the summer months to sell their home while the weather is nice and the kids are out of school.
The number of “Regular” sales continues to increase compared to the sale of distressed properties. “Regular” sales accounted for 81% of the closed transactions in April.(click on graphs for larger image)
The numbers above represent Palm Beach County.
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