We published our inaugural report on the Palm Beach, Florida sales market for 3Q 2012. This is part of an evolving market report series I’ve been writing for Douglas Elliman since 1994.
-Condo sales reached their second highest level in more than six years.
-Buyers and sellers moved closer together on price and the market appears to be absorbing more of the older listing inventory.
-Single family homes selling 2 months faster than a year ago.
Here’s an excerpt from the report:
CONDO/TOWNHOUSE The number of sales jumped 45.5% to 64 units in the third quarter, from the prior year quarter. The year-to-date number of sales is at its second highest level in more than six years. Median sales price increased 3.3% to $390,000 from the prior year quarter, while average sales price and average price per square foot increased 6.5% and 27.7% respectively…
SINGLE FAMILY Median sales price increased 5.7% to $2,600,000 from the prior year quarter. Average sales price and average price per square foot dropped 16.4% and 15.1% over the same period. Arguably a small submarket that could be characterized as stable, the number of sales fell to 23 from 25 in the prior year quarter…
You can build your own custom data tables on the market –
will be updated with 3Q 12 data shortly NOW UPDATED FOR 3Q12. We’ll be adding a chart library for this market area soon!