The west palm beach housing market has been very intense for this past few months. The average home price in West Palm beach fl increased from 497K (december 2020) to 590K  (December 2021). In the charts below we go over the figures for the West Palm Beach area only, however we see this same increase in the Palm Beach County real estate market trends.

In this article we will go over mostly with the single family home figures.

Closed sales were down from 218 to 188. We have to understand that inventory levels has been down since many people understand that this market is beneficial mostly to sellers and they don’t make the move because they are afraid that they will not find a place to buy after selling their property. Also we see that 168 properties went on the market, leaving a total of 253 properties on the market.

In the chart below we see that the month of supply went down from almost 2.8 months to 1.3 month (compared to last year), making it harder for people to find properties to buy.

The time from when the property goes to the market to when they are going under contract has been 25 days.

I personally think that there are still good deals out there, however “people are still getting crazy offers”.

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