How do the latest real estate statistics impact your home value? Today, I’ll go over some interesting information from the Palm Beach County real estate market.
First of all, I want to show you the hottest market in Palm Beach County. The number one zip code for home sales is 33411. The people in Royal Palm are pleased with that. Last month, they had 99 closed home sales.
The top five markets are all Western Communities. These include cities like Palm Beach Gardens, Wellington, Lake Worth, and Boynton Beach, zip code 33437. Boynton Beach is an ideal area for seasonal guests.
Statistics also reveal the number of days on market is down year over year. However, that number has increased in the last couple of months. If you’re thinking about selling, it may take you a little bit longer to get that contract, so we need to talk about when the ideal time would be to list your property.
Inventory is growing. We’re still in a seller’s market overall, and some areas are in a very hot seller’s market. However, inventory is going up. The luxury market in particular is definitely seeing more and more homes come on the market.
That said, 24 zip codes in Palm Beach County did not have a single sale last month. Not one condo, single-family home, or villa sold. There are really two different markets here in Palm Beach County.
Now more than ever, real estate is incredibly local. To find out if you’re in a hot market or a cool market, just give me a call. I’m here to help. I look forward to hearing from you!