Did you know? Fueled by demand for luxury $1-million-and-up homes, total home sales in Palm Beach County climbed 8.4% year over year in July, while pending sales — a future indicator of closings — rose 20.3% in July compared to a year earlier. Prior to the pandemic, the Palm Beach market was already experiencing strong demand from tax refugees coming from tax-burdened states. Now with the pandemic, many Northeasteners have yet one more reason to seek the inviting tropical climate of South Florida.
Rising home prices are not deterring buyers either. The median percent of the original list price received for single-family homes in Palm Beach County was 95.9% in July, up 0.9% from a year ago. The median percent of original list price received for existing condominiums in July was 94.3%, up 0.3% from last year.
Are you thinking about buying or selling in South Florida? Live South Florida Realty, Inc. has a knowledgeable and responsive team of real estate professionals ready to assist you throughout Palm Beach, Broward, & Dade Counties. Call us today!
Live South Florida Realty, Inc.