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Boca Raton and Palm Beach County Real Estate Market Update - AUGUST 2015

Hello Everyone and thank you for watching. This is Gia with Palm Beach Premier Real Estate here in Boca Raton Florida with your local market report for AUGUST 2015.

So here’s a quick take on the numbers that just came out from the Realtors Association of the Palm Beaches

The message this month is that: Home buyers are still busy across Palm Beach County, though not as frenzied as before, with cash buyers declining as the number of financed purchases is increasing. Home price growth is also showing signs of stabilizing.

Per the Realtors® Association of the Palm Beaches the clear message is that:

“Now that the Federal Reserve has opted to keep interest rates near zero, we expect to see borrowers continue to obtain financing in the coming months.

If you are selling your home, we encourage you to be more receptive to offers with financing contingencies in light of the shrinking number of cash buyers.”

So, taking a look at the local market statistics for last month:

The Palm Beach County market has continued to grow, according to year-over-year statistics for August, although the rate of growth is slowing.

To underline that point, the number of closed units declined 16% month-to-month from July to August indicating that buyers had flooded the market earlier in the year looking for places before school started again, with June being a record month for sales since 1993.

For single family homes, median days on market dropped a whopping 34.5 percent down to 36 days!....

The Median sale price rose 9.3 percent to $295,000.

As for inventory levels, months’ supply declined significantly at 21.6 percent down to 4.4 months.

For buyers, this means a 7.9 percent decline in active inventory to shop from down to 6,622 active listings.


For townhouses/condos, we also saw similar year-over-year trends.

Median sale prices jumped 4.3 percent.

Meanwhile, median days on market dropped 19.6 percent down to 45 days and months’ supply of inventory decreased 10.5 percent 4.5 months.


We will of course continue to provide you with regular market updates.

In the interim, if you are thinking of getting your home on the market, or you just want a second opinion of value or have questions, please give us a call here at 561.395.8418 or email us at [email protected]

As always we look forward to speaking with you. Thank you for watching. See you next time….

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