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[Buyers Sellers Closer] 3Q 2012 Palm Beach Report

[1]

We published our inaugural report on the Palm Beach, Florida sales market for 3Q 2012 [1].   This is part of an evolving market report series I’ve been writing for Douglas Elliman [2] since 1994.

Key Points

-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 [3] 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!




The Elliman Report: 3Q 2012 Palm Beach [Miller Samuel [1]]
The Elliman Report: 3Q 2012 Palm Beach [Douglas Elliman [4]]
Aggregated Custom Market Data Tables [Miller Samuel [3]]