Monthly Indicators –
SOUTHEAST FLORIDA –
October 2020 –
Data courtesy of floridarealtors.org
Beaches MLS Service Area:
Broward | Palm Beaches | St Lucie
BeachesMLS Service Area
October continued to be busier than the calendar normally suggests. Buyer activity remains higher than normal for this time of year, while in many segments of the market housing supply remains much lower than one year ago. Multiple offers remain a common occurrence in many areas, keeping housing hot while the temperatures continue to fall.
New Listings decreased 6.4 percent for Single Family homes but increased 1.1 percent for Townhouse/Condo homes. Pending Sales increased 10.4 percent for Single Family homes and 26.1 percent for Townhouse/Condo homes. Inventory decreased 39.7 percent for Single Family homes and 5.9 percent for Townhouse/Condo homes.
Median Sales Price increased 15.7 percent to $399,000 for Single Family homes and 17.6 percent to $200,000 for Townhouse/Condo homes. Median Time to Contract decreased 53.8 percent for Single Family homes and 22.5 percent for Townhouse/Condo homes. Months Supply of Inventory decreased 41.9 percent for Single Family homes and 3.8 percent for Townhouse/Condo homes.
Mortgage rates dropped to new record lows again in October, helping to offset the monthly mortgage payment increases caused by the rise in home prices seen in many segments of the market across the country. While prices often dip a bit in the winter months, continued buyer demand may temper any price retreats this year.
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, P.A.
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.
Find the Value of Your Home: Click here.
Find Your Next Home: Click here.
Search for New Construction: Click here.
Sign Up for Newsletter: Click here.