According to the latest housing data released by Florida Realtors®, Palm Beach County’s housing market reported rising median prices and more closed sales. Additionally, the listing inventory experienced a slight reduction in March 2018 as compared to March 2017. 

Here’s what buyers and sellers of Boca Raton real estate need to know.

March Stats

Median Price Continues to Climb

The median price of closed sales continues to climb, with a 7.1% increase from the same period last year for single-family homes, and 9.3% for townhouses and condos. The median price also climbed month over month. The median sale price in March 2018 was $348,000 vs. $345,000 in February 2018 for single-family homes, and $177,000 vs. $170,000 for townhouses and condos. 

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This month marks the 50th anniversary of the Fair Housing Act of 1968. President Lyndon B Johnson signed the legislation into law on April 11, 1968 — on the heels of the tragic assassination of Martin Luther King Jr. This landmark legislation prohibits discrimination based on race, color, national origin, religion, sex, familial status or disability. Not included is equal opportunity in private housing on the basis of sexual orientation and gender identity, although about half the states have enacted legislation banning this discrimination (unfortunately not Florida). 

The Fair Housing Act was designed in part to end the racially discriminatory practices which resulted in segregated neighborhoods. The discrimination was perpetrated by both…

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