The Florida Association of Realtors teamed with a research firm to gather sales data by individual ZIP codes, the Palm Beach Post reported, and the February figures are out. The statewide group contracted 10K Research, a Minneapolis-based firm, to obtain monthly data on every ZIP code in the state, that would replace regional data that groups cities — and sometimes even counties — together.
Now the disparities between different regions of a county are more clear. For example, while the February median sales price in Palm Beach’s 33480 ZIP code was $625,000, the median price in West Palm Beach’s 33405 area was $77,000.
The detailed data will help buyers make better offers and sellers set better asking prices, the Post said.
“The Realtors work in specific neighborhoods with specific properties so the more detailed information we can get for them the better they are served and the better they can help buyers,” said Bill Richardson, the former president of the Realtors Association of Palm Beaches who now works with Keyes Real Estate.
The data will not be available to the public by the various county Realtor groups will likely use it to publish more detailed market reports. [Palm Beach Post]