August Market Stats Are In!

St. Lucie County see median sale price increase while Broward holds steady and Palm Beach County declines

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The South Florida housing market showed a mixed bag of signals in the month of August. Call it a summer slump or a blip on the radar, but Palm Beach County’s median sale price saw a slight decline from $350K to $340K in August. “We have had a stable market month over month with moderate variances in year over year data for single family homes,” said RAPB+GFLR President-Elect Jeff Levine. Levine also added, “What is notable is the 5.4% year-over-year rise in the median sale price of condos and townhomes…simply because there is very little inventory in that price range for single family homes.”

Despite the median sale price for single family homes holding steady from July, Broward County saw an increase in closed sales in the month of August. RAPB+GFLR President Ron Lennen said, “We are continuing to see a slowdown in the multimillion dollar price range, an increase in sales in the lower priced bracket and increase in inventory.”

St. Lucie County saw the only month-over-month and year-over-year single family median sale price in our jurisdiction. “The market in St. Lucie County is firing on all cylinders,” said John Slivon, Past President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. “Typically, August and September are sluggish months for our real estate market, but this past August did not show any signs of slowing down. The number of single family home sales increased 14.1%, our median sale price rose 9.8% and even our inventory grew by a modest 2.6%.”