Palm Beach County Market Update: October 2016
Posted by Boca Expert Realty on
According to the Florida REALTORS® October 2016 market report, South Florida’s residential real estate market is slowing down. While listing inventories increased, the number of closed sales decreased. These statistics are in favor of buyers because of a larger inventory, while sellers may be at a disadvantage when negotiating prices.
October’s statistics for Palm Beach County properties mimicked the trends of the overall South Florida region. The most notable figure from the report is a combined 12.1% reduction in overall sales of all property types in Palm Beach County. Another significant year-over-year change was the 6.3% net increase of active listings which marks an additional 773 units for sale. The entire listing inventory of all…
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