Palm Beach County Market Update | August 2019

The August 2019 numbers are in!

While closed sales were down -12.5% for single family homes and -.9.0% in August for condos in Palm Beach County, take it with a grain of salt.  Palm Beach County is still a seasonal market (although not as much as it used to be).  The key number I think to look at is inventory across the board – which is down.  Months supply of inventory is down -6.5% on single family homes at 4.3% and 4.1% lower on townhomes/condos at 4.7%.  Inventory is lower by -6.2% for single family homes and -5.2% for townhomes/condos.

The laws of supply and demand are always key as you learn in Economics 101. Lower supply going into season means we should see a balanced market if all things remain equal.