Palm Beach County’s housing market reported rising median prices and more closed sales, along with slightly reduced listing inventory in February 2018 as compared to February 2017, according to the latest housing data released by Florida Realtors®.
Here’s what buyers and sellers of Boca Raton real estate need to know.
Median Price Continues to Climb
The median price of closed sales jumped significantly over the same period last year. The median price is the midpoint, meaning half the homes sold for more, half for less. Months supply of inventory (how long it would take to sell all of the current homes listed for sale) is still hovering around 6 percent, which indicates a balanced market favoring neither buyers or sellers.