Market Report: North Palm Beach County, January 2020

Monthly Indicators –
NORTH PALM BEACH COUNTY –
January 2020 –

Data courtesy of floridarealtors.org

For 2020, The National Association of REALTORS® Chief Economist
Lawrence Yun sees good news for home prices. “National median home
price growth is in no danger of falling due to inventory shortages and will
rise by 4%,” the long-term NAR economist predicts. He is also expecting
the new-home construction market sales to increase 10%. Yun and others
would like to see home builders bring more affordable units to market to
help ease shortages and slow price gains in that segment.

New Listings decreased 10.1 percent for Single Family homes but
increased 1.0 percent for Townhouse/Condo homes. Pending Sales
decreased 9.0 percent for Single Family homes and 4.4 percent for
Townhouse/Condo homes. Inventory decreased 22.3 percent for Single
Family homes and 14.5 percent for Townhouse/Condo homes.

Median Sales Price increased 2.7 percent to $379,950 for Single Family
homes and 11.7 percent to $201,000 for Townhouse/Condo homes. Median
Time to Contract decreased 15.9 percent for Single Family homes and 24.0
percent for Townhouse/Condo homes. Months Supply of Inventory
decreased 26.2 percent for Single Family homes and 15.3 percent for
Townhouse/Condo homes.

We start off the year with continued low interest rates, low unemployment,
and rising rents nationally. These factors should encourage healthy buyer
demand and sets us up for a strong start to the 2020 housing market and a
lot of optimism for the coming spring market.

For a detailed PDF with full market stats, please request one by filling out the form here: click here.

To sign up for the newsletter, please click here.

Heather E. Towe, Realtor®
CRS®, CLHMS®, e-PRO®, PSA®
561-806-8550 | heather.towe.gmail.com
Licensed to Sell Real Estate in Florida

How can I help you?

Luxury Real Estate Services for Palm Beach County, Florida.

*** Listing Specialist in Palm Beach County, including: Jupiter, Juno Beach, Palm Beach Gardens, North Palm Beach, West Palm Beach, Palm Beach, Jupiter Island.

*** Serving Buyers by referral throughout Palm Beach County.

*** Offering expert real estate advice to everyone, and referrals to local real estate experts all over the world.

To download my app, please click here
To sign up for my newsletter, please click here
To find out how much your home is worth, please click here.
To find your next home, please click here.