The Palm Beach County real estate market continues to be hot. “Competition among buyers has been stiff, leading to a 33.3 percent drop to 14 median days on market,” said Karen Johnson, President of Broward, Palm Beaches & St. Lucie Realtors®.
CDOM (Cumulative Days on Market) or DOM (Days on Market) are a measure of the time a home sits on the market before entering closing. With international buyers entering the Florida market again and more Snowbirds hunting for housing, the median sale price increased to $500,000 in October, a 19% jump over previous year. The median percent of original list price received in October was 98.7 percent, indicating strong buyer’s demand.
Median sale price is our preferred summary statistic for price activity, because unlike average sale price, median sale price is not sensitive to high sale prices for small numbers of homes that may not be characteristic of the market area.
Maximilian Dollar Listings is an experienced, top-rated Real Estate service firm with deep market knowledge in Southern Florida. It would be our pleasure to guide you through your home buying experience.
Make it a Maximilian Dollar Listing!
This news article was first published on https://rworld.com/blog/pbc-october-2021
This website and other content herein are made available by Maximilian Dollar Listings solely for informational purposes. The information, statements, comments, views, and opinions expressed in this website do not constitute and should not be construed as an offer to buy or sell any real estate or securities or to make or consider any investment or course of action. The information, statements, comments, views, and opinions provided in this website are general in nature, and such information, statements, comments, views, and opinions are not intended to be and should not be construed as the provision of investment advice by Maximilian Dollar Listings.