The Real Deal Miami

Palm Beach County home prices rise again: report

But residential market starting to show signs of slowing down

April 23, 2014 10:30AM

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marketdataPalm Beach County single-family and condo prices rose again in March, but industry experts say the market is starting to slow down.

The single-family median price in Palm Beach County was $265,000 last month, according to the latest data from the Realtors Association of the Palm Beaches. That represents a 6 percent year-over-year increase. Single-family prices rose by nearly 30 percent year-over-year last spring, however.

Closed single-family sales increased 8 percent to 1,369 in March. The median condo sale price jumped 21 percent to $122,000, but existing condo sales had a 24 percent year-over-year plunge.

“It will still be a very good year, but it just will be slower compared to last year,” analyst Jack McCabe told the Sun-Sentinel. “Last year was artificial.” [Sun-Sentinel]Eric Kalis

  • Jojo

    Food for thought: Perhaps it’s slowing down because there’s a clear lack of inventory.

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