Palm Beach Gardens Real Estate

Palm Beach Gardens Real Estate

Statistics for May 2020 | Palm Beach Gardens

Source | Florida REALTORS

Contact the Warner Team for more details and a complimentary home estimate.

In May, the number of single-family homes that closed decreased 53.3 percent from a year ago. However, the percentage of cash deals increased dramatically, up 83.9 percent from the previous year.

As a result of a 16.9 percent increase in new listings, the number of homes for sale increased slightly, up from 5.1 percent in April 2020 to 5.5 percent in May.

The median price, (50% of sales above and 50% below) of single-family homes 11.6 percent from the previous year, down from $525,000 to $480,000. However, the average price (total sales in dollars divided by the total number of sales) increased 11.6 percent. In addition, both the median time to contract and to sale accelerated. The number of days to sale decreased by 37.1 percent, and to contract 64.8 percent. These results are not that surprising when you consider the number of cash sales and our season’s end.

Sales of townhomes and condos followed a similar path with new listings up 12.3 percent from a year ago. The number of days for a sale to occur, and then close, did not accelerate and remained nearly the same as the previous year. Inventory levels dipped slightly, down 10.5 percent from a year ago. The percentage of cash sales remained the same.

Contact Us to find out what your home is worth in today’s market.

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