Inventory continues to rise, with year-over-year supply of inventory reaching 2.9 months, a 7.4% increase from August 2022. The median sale price increased from 2022 with a 7.1% increase to $605,000. The median time to contract is 24 days verses the market in August 2022 at 18 days—this is a 33.3% increase.
Palm Beach County, is one of the most sought after regions to purchase real estate in the United States, a wonderful place to live year-round and own property. Contributing factors are: great beaches, nice weather (especially during the winter season), lots of great shopping areas, great restaurants or cafes, plus close to two interstates, a nice airport and cruise ships.
