Palm Beach County Market Report Palm Beach County Market Report | Page 2

Closed Sales
Monthly
Market Detail - May 2024 Single-Family Homes Palm Beach County
Summary Statistics
May 2024
May 2023
Percent Change Year-over-Year
Closed Sales Paid in Cash
1,439 1,460 -1.4 % 662 647 2.3 %
Median Sale Price $ 645,000
$ 622,500 3.6 %
Average Sale Price Dollar Volume
$ 1,267,931 $ 1,164,938 8.8 % $ 1.8 Billion $ 1.7 Billion 7.3 %
Median Percent of Original List Price Received
94.1 % 95.0 % -0.9 %
Median Time to Contract 39 Days 27 Days 44.4 %
Median Time to Sale
84 Days
75 Days
12.0 %
New Pending Sales New Listings
1,313 1,793
1,422 -7.7 %
1,591 12.7 %
Pending Inventory 1,979 Inventory ( Active Listings ) 5,108 Months Supply of Inventory 4.4
2,167 -8.7 % 3,529 44.7 % 3.0 46.7 %

Closed Sales

The number of sales transactions which closed during the month
Economists ' note : Closed Sales are one of the simplest — yet most important — indicators for the residential real estate market . When comparing Closed Sales across markets of different sizes , we recommend comparing the percent changes in sales rather than the number of sales . Closed Sales ( and many other market metrics ) are affected by seasonal cycles , so actual trends are more accurately represented by year-over-year changes ( i . e . comparing a month ' s sales to the amount of sales in the same month in the previous year ), rather than changes from one month to the next .
Month
Closed Sales
Percent Change
Year-over-Year
Year-to-Date
5,904
-0.9%
May 2024
1,439
-1.4%
April 2024
1,402
11.1 %
March 2024
1,226
-16.3%
February 2024
1,026
5.2 %
January 2024
811
2.1 %
December 2023
969
-3.0%
November 2023
914
-0.7%
October 2023
1,086
3.5 %
September 2023
1,102
-5.8%
August 2023
1,249
-3.3%
July 2023
1,164
-2.2%
June 2023
1,428
-3.0%
May 2023
1,460
-4.4%
2,500
2020 2021 2022 2023
2,000
1,500
1,000 500
0
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M
Produced by Florida Realtors ® with data provided by Florida ' s multiple listing services . Statistics for each month compiled from MLS feeds on the 15th day of the following month . Data released on Friday , June 21 , 2024 . Next data release is Tuesday , July 23 , 2024 .