November 2024 Market Statistics
Posted by Gloria Singer on
South Palm Beach County Real Estate Market Update: Inventory Surges, Sales Slow Down
Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for November. Read on to learn more about the real estate market in South Palm Beach County:
The South Palm Beach County real estate market in November 2024 shows notable shifts compared to the same period in 2023. Here are the key highlights:
Single-Family Homes
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Closed Sales: Declined by 10.3%, from 428 to 384 units.
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New Listings: Increased by 5.1%.
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Pending Sales: Rose sharply by 18.9%.
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Median Sale Price: Decreased by 2.0% to $600,000.
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Median Time to…
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The agents in our office recently met with the Mandarin Oriental sales team to learn about the project at Federal Highway and Camino Real in Downtown Boca. All I can say is “wow”! This is a high end project for ultra high net worth individuals. The first phase of a 366 unit luxury rental building - 101 Via Mizner - is just about complete. The next phase is a Mandarin Oriental hotel and Residences at Mandarin Oriental. Mandarin Oriental (MO) is a 5 star hotel group located in the top cities of the world. The MO team has decided to build both a hotel and residences in our little town of Boca Raton! This will be only the fifth location in the US to have a Residences at Mandarin Oriental in their city. We are joining locales such as New York, London, Abu…