Economists' note : ClosedSalesareoneofthesimplest—yetmost important—indicatorsfortheresidentialrealestatemarket. When comparingClosedSalesacrossmarketsofdifferentsizes,we recommendcomparingthepercentchangesinsalesratherthanthe numberofsales. ClosedSales(andmanyothermarketmetrics)are affectedbyseasonalcycles,soactualtrendsaremoreaccurately representedbyyear-over-yearchanges(i.e.comparingamonth'ssales totheamountofsalesinthesamemonthinthepreviousyear),rather thanchangesfromonemonthtothenext.
Sales New Listings Month
June 2022 1,472 May 2022 1,527 -10.5%
$1.1 Billion $1.3 Billion -13.1% $882,972 $808,345 9.2% 531 661 -19.7% 1,292 1,624 -20.4%
Year-to-Date 10,980 -18.6% -20.4% 0.2% 1,292 -26.6% 2,369 63.1% 92.9%
August 2021 Percent Year-over-YearChange
Closed Sales
572,617Days
2018 2019 2020 2021 2022 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 J J A Monthly Market Detail August 2022 Palm Beach County Single Family Homes Closed Sales The number of sales transactions which closed during the month 2,5002,0001,5001,0005000SalesClosed
August 2022
New Pending 1,709
Median Time to Contract 581,310Days
1.4
Summary Statistics Closed Sales Paid in Cash 96.8% August 2022 $565,000Median Sale Price Average Sale Price Dollar MedianVolumePercent of Original List Price Received
ProducedbyFloridaRealtors®withdataprovidedbyFlorida'smultiplelistingservices.StatisticsforeachmonthcompiledfromMLSfeedsonthe15thdayofthefollowingmonth. releasedonWednesday,September21,2022.NextdatareleaseisThursday,October20,2022.
100.0%1,237
Pending 1,922 (Active Listings) 3,865
Median Time to Sale
1,706
Data
Inventory
Inventory
$480,000
September 2021 1,450
December 2021 1,601 April 2022 1,484 March 2022 1,590 February 2022 -3.2%
18 Days 11 Days 63.6%
August 2021 1,624
January 2022 1,188
November 2021 1,491
Percent
July 2022 1,190 -19.2%-30.5%-32.9%
October 2021 1,471 -10.3%-25.4%-16.9%-19.1%-2.7%-7.7%2.9%2.1%
Inventory
Months Supply of 2.7 1.8% 1,671 -21.6% Year-over-YearChange 17.7%
Month2022
August 2021
June 2022 46.8% 6.1%
June 2022 689 -26.2%
ProducedbyFloridaRealtors®withdataprovidedbyFlorida'smultiplelistingservices.StatisticsforeachmonthcompiledfromMLSfeedsonthe15thdayofthefollowingmonth.
April 2022 50.3% 20.6%
November 2021 594 1.2%
Beach County Single Family Homes Cash Sales The number of Closed Sales during the month in which buyers exclusively paid in cash 2018 2019 2020 2021 2022 Cash
January 2022 42.6% 18.7%
Month Percent of Closed Sales Paid in Cash Percent Year-over-YearChange
DatareleasedonWednesday,September21,2022.NextdatareleaseisThursday,October20,2022. 40.7% 38.4%
The percentage of Closed Sales during the month which were Cash Sales
October 2021 40.4%
Economists' note : Thisstatisticissimplyanotherwayofviewing CashSales. TheremainingpercentagesofClosedSales(i.e.thosenot paidfullyincash)eachmonthinvolvedsomesortoffinancing,suchas mortgages,owner/sellerfinancing,assumedloans,etc.
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 J J A 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 J J A 10%0% 20% 60%50%40%30%SalesClosedofPct. CashinPaid 1,0008006004002000SalesCash Monthly Market Detail August 2022 2018 2019 2020 2021 2022
November 2021 41.5%
July 2022 44.6% 12.1% 619 28.4% 750 -10.2%
July 2022 531 -24.8%
Economists' note : CashSalescanbeausefulindicatoroftheextentto whichinvestorsareparticipatinginthemarket. Why? Investorsare farmorelikelytohavethefundstopurchaseahomeavailableupfront, whereasthetypicalhomebuyerrequiresamortgageorsomeother formoffinancing. Thereare,ofcourse,manypossibleexceptions,so thisstatisticshouldbeinterpretedwithcare.
Palm Sales as a Percentage of Closed Sales
September 2021 38.8% 25.6%
August 2021 661 23.8%
September 2021 562
December 2021 40.7% 18.3%
32.2%4.3%
May 2022 49.1% 11.1%
April 2022 746 -10.1%
February 2022 565 13.9%
Cash Sales Percent Year-over-YearChange
Year-to-Date 5,083 -8.4%
May
January 2022 506 22.2%
March 2022 48.1% 22.7%
December 2021 652 6.4%
March 2022 765 13.3%
August 2022 41.1% 1.0%
August 2022 531 -19.7%
Year-to-Date 46.3% 12.4%
October 2021 25.1%
February 2022 45.7% 11.5%
April 2022 $1,085,785 4.9%
Month Average Sale Price Percent Year-over-YearChange
Average Sale Price
5.9%$996,701
November 2021 $953,440 26.6%
July 2022 $957,308 15.8%
July 2022 $600,000 20.0%
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 J J A 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 J J A $1400K$1200K$1000K$800K$600K$400K$200K$0KPriceSaleAverage $700K$600K$500K$400K$300K$200K$100K$0KPriceSaleMedian Monthly Market Detail August 2022 2018 2019 2020 2021 2022
Economists' note : Usually,wepreferMedianSalePriceoverAverage SalePriceasasummarystatisticforhomeprices. However,Average SalePricedoeshaveitsuses—particularlywhenitisanalyzed alongsidetheMedianSalePrice. Forone,therelativedifference betweenthetwostatisticscanprovidesomeinsightintothemarketfor higher-endhomesinanarea.
Palm Beach County
Single Family Homes
Month2022
average sale price reported for the month (i.e. total sales in dollars divided by the number of sales)
December 2021 $525,000 23.5%
August 2022 $882,972 9.2%
June 2022 $620,000 24.0%
February 2022 $535,000 18.9%
September 2021 $469,900 17.5%
Year-to-Date $575,000 23.7%
Economists' note : MedianSalePriceisourpreferredsummary statisticforpriceactivitybecause,unlikeAverageSalePrice,Median SalePriceisnotsensitivetohighsalepricesforsmallnumbersof homesthatmaynotbecharacteristicofthemarketarea. Keepinmind thatmedianpricetrendsovertimearenotalwayssolelycausedby changesinthegeneralvalueoflocalrealestate. Mediansalepriceonly reflectsthevaluesofthehomesthat sold eachmonth,andthemixof thetypesofhomesthatsellcanchangeovertime.
September 2021 $794,235 21.0%
January 2022 $826,002 -2.7%
June 2022 $1,182,748 14.6% May 2022 $1,000,866 1.7%
April 2022 $601,000 29.0%
Median Sale Price
ProducedbyFloridaRealtors®withdataprovidedbyFlorida'smultiplelistingservices.StatisticsforeachmonthcompiledfromMLSfeedsonthe15thdayofthefollowingmonth. DatareleasedonWednesday,September21,2022.NextdatareleaseisThursday,October20,2022.
Year-to-Date
February 2022 $1,016,787 20.2%
August 2021 $808,345 24.3%
March 2022 $971,124 -7.1%
November 2021 $510,000 22.0% $615,000 29.5%
March 2022 $541,000 23.0%
August 2021 $480,000 20.3%
May
Median Sale Price Percent Year-over-YearChange
December 2021 $1,007,981 17.8%
October 2021 $500,000 19.0%
January 2022 $526,500 24.8%
The median sale price reported for the month (i.e. 50% of sales were above and 50% of sales were below) 2018 2019 2020 2021 2022
August 2022 $565,000 17.7%
October 2021 $804,574 14.7%
The
November 2021 99.2%
2.6%0.6%
September 2021 $1.2 Billion
Economists' note : DollarVolumeissimplythesumofallsaleprices inagiventimeperiod,andcanquicklybecalculatedbymultiplying ClosedSalesbyAverageSalePrice. Itisastrongindicatorofthehealth oftherealestateindustryinamarket,andisofparticularinterestto realestateprofessionals,investors,analysts,andgovernmentagencies. Potentialhomesellersandhomebuyers,ontheotherhand,willlikely bebetterservedbypayingattentiontotrendsinthetwocomponents ofDollarVolume(i.e.salesandprices)individually.
MonthYear-to-Date
Med. Pct. of Orig. List Price Received Percent Year-over-YearChange
August 2021
August 2021 $1.3 Billion 11.3%
April 2022 100.0% 1.5%
December 2021 99.4% 2.7%
July 2022 98.2% -1.8%
October 2021 2.3%
Economists' note : TheMedianPercentofOriginalListPriceReceived isusefulasanindicatorofmarketrecovery,sinceittypicallyrisesas buyersrealizethatthemarketmaybemovingawayfromthemand theyneedtomatchthesellingprice(orbetterit)inordertogeta contractonthehouse. Thisisusuallythelastmeasuretoindicatea markethasshiftedfromdowntoup,soitiswhatwewouldcalla lagging indicator.
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 J J A 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 J J A 20%0% 40% 120%100%80%60%Orig.ofPct.Med. ReceivedPriceList Monthly Market Detail August 2022 2018 2019 2020 2021 2022 Palm Beach County Single Family Homes Dollar Volume The sum of the sale prices for all sales which closed during the month 2018 2019 2020 2021 2022 Median Percent of Original List Price Received The median of the sale price (as a percentage of the original list price) across all properties selling during the month $500$0M$1.0B$1.5B$2.0B$2.5BVolumeDollar
June 2022 $1.7 Billion -20.3% Month Dollar Volume Percent Year-over-YearChange
1.5%100.0%
$1.4 Billion 23.1%
March 2022 $1.5 Billion -14.3%
March 2022 100.0% 2.5%
January 2022 $981.3 Million 0.1%
April 2022 $1.6 Billion -21.8%
August 2022 $1.1 Billion -13.1%
January 2022 99.0% 2.4%
February 2022 100.0% 3.5%
ProducedbyFloridaRealtors®withdataprovidedbyFlorida'smultiplelistingservices.StatisticsforeachmonthcompiledfromMLSfeedsonthe15thdayofthefollowingmonth. DatareleasedonWednesday,September21,2022.NextdatareleaseisThursday,October20,2022. 100.0% 4.1%
August 2022 96.8% -3.2%
September 2021 99.3% 2.9%
July 2022 $1.1 Billion -22.3%
Year-to-Date $10.9 Billion -13.7%
December 2021 $1.6 Billion 5.7%
November 2021 $1.2 Billion -7.2%
October 2021 98.7%
May 2022 $1.5 Billion -17.8%
February 2022 $1.3 Billion 22.8%
June 2022 100.0% 0.0% May 2022 100.0% 0.5%
Median
April 2022 52 Days -13.3%
January 2022 15 Days -44.4%
August 2021 11 Days -68.6%
October 2021 59 Days -13.2%
13 Days -13.3%
WhenthegapbetweenMedianTimetoContractandMedianTimeto Salegrows,itisusuallyasignoflongerclosingtimesand/ordeclining numbersofcashsales.
November 2021
Percent Year-over-YearChange
February 2022 55 Days -24.7%
December 2021 14 Days -50.0%
September 2021 57 Days -23.0%
March 2022 51 Days -19.0%
Economists' note : TimetoSaleisameasureofthelengthofthehome sellingprocess,calculatedasthenumberofdaysbetweentheinitial listingofapropertyandtheclosingofthesale. Median TimetoSaleis theamountoftimethe"middle"propertysellingthismonthwason themarket. Thatis,50%ofhomessellingthismonthtook less timeto sell,and50%ofhomestook more timetosell. MedianTimetoSale givesamoreaccuratepicturethanAverageTimetoSale,whichcanbe skewedupwardbysmallnumbersofpropertiestakinganabnormally longtimetosell.
February 2022 13 Days -56.7%
August 2022 18 Days 63.6%
Percent Year-over-YearChange
August 2022 58 Days 1.8% -12.7%55 Days
June 2022 12 Days 9.1%
April 2022 9 Days -30.8%
November 2021 55 Days -19.1%
ProducedbyFloridaRealtors®withdataprovidedbyFlorida'smultiplelistingservices.StatisticsforeachmonthcompiledfromMLSfeedsonthe15thdayofthefollowingmonth. DatareleasedonWednesday,September21,2022.NextdatareleaseisThursday,October20,2022.
March 2022 10 Days -44.4%
July 2022 57 Days 0.0%
December 2021 59 Days -16.9%
JulyYear-to-Date2022
14 Days 40.0%
13 Days -45.8%
October 2021 14 Days -33.3%
August 2021 57 Days -27.8%
Median
Month Time to Contract
Month Time to Sale
June 2022 55 Days -9.8%
SeptemberYear-to-Date2021
May 2022 51 Days -12.1%
Economists' note : LikeTimetoSale,TimetoContractisameasureof thelengthofthehomesellingprocesscalculatedforsaleswhichclosed duringthemonth. ThedifferenceisthatTimetoContractmeasures thenumberofdaysbetweentheinitiallistingofapropertyandthe signingofthecontractwhicheventuallyledtotheclosingofthesale.
May 2022 11 Days 0.0%
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 J J A 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 J J A 200 40 1201008060toTimeMedian Sale 706050403020100toTimeMedian Contract Monthly Market Detail August 2022 2018 2019 2020 2021 2022 Palm Beach County Single Family Homes Median Time to Contract The median number of days between the listing date and contract date for all Closed Sales during the month 2018 2019 2020 2021 2022 Median Time to Sale The median number of days between the listing date and closing date for all Closed Sales during the month
January 2022 59 Days -18.1%
14 Days -48.1%
Economists' note : Becauseofthetypicallengthoftimeittakesfora saletoclose,economistsconsiderPendingSalestobeadecent indicatorofpotentialfutureClosedSales. Itisimportanttobearin mind,however,thatnotallPendingSaleswillbeclosedsuccessfully. So,theeffectivenessofPendingSalesasafutureindicatorofClosed Salesissusceptibletochangesinmarketconditionssuchasthe availabilityoffinancing forhomebuyersandtheinventoryof distressedpropertiesforsale.
August 2022 1,310 -21.6%
October 2021 1,712 -10.8%
November 2021 1,471 -14.7%
June 2022 2,286 11.9% May 2022 2,222 7.4%
Year-to-Date 11,833 -21.5%
April 2022 2,052 -8.7%
July 2022 1,213
December 2021 1,311 -12.1%
February 2022 1,534 -22.3%
January 2022 1,588 -10.6%
December 2021 1,370 -17.6%
April 2022 1,648 -23.4%-23.3%
ProducedbyFloridaRealtors®withdataprovidedbyFlorida'smultiplelistingservices.StatisticsforeachmonthcompiledfromMLSfeedsonthe15thdayofthefollowingmonth. DatareleasedonWednesday,September21,2022.NextdatareleaseisThursday,October20,2022.
March 2022 1,780 -16.9%
Month
Year-to-Date 15,578 -1.2%
New Pending Sales Percent Year-over-YearChange
September 2021 1,552 -20.0%
October 2021 1,694 -17.3% 1,609 -13.2%
November 2021 1,467 -18.2%
Economists' note : NewListingstendtoriseindelayedresponseto increasingprices,sotheyareoftenseenasalaggingindicatorof markethealth. Aspricesrise,potentialsellersraisetheirestimations ofvalue—andinthemostrecentcycle,risingpriceshavefreedup manypotentialsellerswhowerepreviouslyunderwaterontheir mortgages. Notethatinourcalculations,wetakecaretonotinclude propertiesthatwererecentlytakenoffthemarketandquicklyrelisted, sincethesearenotreally new listings.
May 2022 1,509 -25.1%
August 2021 1,671 -8.5%
August 2022 1,709 0.2%
September 2021 1,726 -12.7%
June 2022 1,251 -28.9%
March 2022 2,049 -4.4%
January 2022 August 2021 1,706 -9.8%
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 J J A 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 J J A 5000 1,000 3,0002,5002,0001,500ListingsNew 2,5002,0001,5001,0005000SalesPending Monthly Market Detail August 2022 2018 2019 2020 2021 2022 Palm Beach County Single Family Homes New Pending Sales The number of listed properties that went under contract during the month 2018 2019 2020 2021 2022 New Listings The number of properties put onto the market during the month
Month New Listings Percent Year-over-YearChange
July 2022 1,980 2.1%
February 2022 1,671 -5.2%
Economists' note : Thereareanumberofwaystodefineandcalculate Inventory. Ourmethodistosimplycountthenumberofactivelistings onthelastdayofthemonth,andholdthisnumbertocomparewiththe samemonththefollowingyear. InventoryriseswhenNewListingsare outpacingthenumberoflistingsthatgooff-market(regardlessof whethertheyactuallysell). Likewise,itfallswhenNewListingsaren't keepingupwiththerateatwhichhomesaregoingoff-market.
January 2022 1.1 -51.7%-52.2%
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 J J A J F M A M J J
September 2021 2,370 -42.8%
March 2022 1,869 -31.2%
Month Months Supply Percent Year-over-YearChange
July 2022 3,854 54.6%
August 2021 1.4 -53.3%
April 2022 1.4 0.0%
August 2022 3,865 63.1% 2,662 3.3%
ProducedbyFloridaRealtors®withdataprovidedbyFlorida'smultiplelistingservices.StatisticsforeachmonthcompiledfromMLSfeedsonthe15thdayofthefollowingmonth. DatareleasedonWednesday,September21,2022.NextdatareleaseisThursday,October20,2022.
November 2021
August 2022 2.7 92.9%
2,0272,631
YTD (Monthly Avg) 1.8 12.5%
July 2022 2.7 80.0%
May 2022 -48.6%
June 2022 3,421 51.4% Month Inventory Percent Year-over-YearChange
January 2022 1,727 -49.9%
YTD (Monthly Avg) 23.1%
February 2022 1.1 -45.0%
Months
October 2021 2,212 -46.5%
December 2021 1.1 -52.2%
August 2021 2,369 -44.0%
April 2022 2,155 -2.5%
October 2021 1.3 -53.6% September 2021 1.4 A
November 2021 1.2 -55.6%
Economists' note : MSIisausefulindicatorofmarketconditions. The benchmarkforabalancedmarket(favoringneitherbuyernorseller)is 5.5monthsofinventory. Anythinghigheristraditionallyabuyers' market,andanythinglowerisasellers'market. Thereisnosingle acceptedwayofcalculatingMSI. Acommonmethodistodivide currentInventorybythemostrecentmonth'sClosedSalescount,but thiscountisausuallypoorpredictoroffutureClosedSalesdueto seasonalcycles. Toeliminateseasonaleffects,weusethe12-month averageofmonthlyClosedSalesinstead.
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 J J A 7.06.05.04.03.02.01.00.0ofSupplyMonths Inventory 10,0008,0006,0004,0002,0000Inventory Monthly Market Detail August 2022 2018 2019 2020 2021 2022 Palm Beach County Single Family Homes Inventory (Active Listings) The number of property listings active at the end of the month 2018 2019 2020 2021 2022
December 2021 1,832 -48.4%
June 2022 2.3 76.9%
May 2022 1.7 30.8%
March 2022 1.2 -33.3%
Supply of Inventory An estimate of the number of months it will take to deplete the current Inventory given recent sales rates
February 2022 1,777 -40.5%
Economists' note : LikeTimetoSale,TimetoContractisameasureof thelengthofthehomesellingprocesscalculatedforsaleswhichclosed during the month. The difference is that Time to Contract measures the number of days between the initial listing of a property and the signing of the contract which eventually led to the closing of the sale. When the gap between Median Time to Contract and Median Time to Salegrows,itisusuallyasignoflongerclosingtimesand/ordeclining numbersofcashsales.
$250,000 - $299,999 59 -50.4% $300,000 - $399,999 170 -41.6%
$200,000 - $249,999 26 Days 85.7% $250,000 - $299,999
302520151050 35 4540 Less$50,000than $50,000 $99,999- $100,000 $149,999- $150,000 $199,999- $200,000 $249,999- $250,000 $299,999- $300,000 $399,999- $400,000 $599,999- $600,000 $999,999- $1,000,000 or more ContracttoTimeMedian August 2021 August 2022 302520151050 35 4540 6005004003002001000 Less$50,000than $50,000 $99,999- $100,000 $149,999- $150,000 $199,999- $200,000 $249,999- $250,000 $299,999- $300,000 $399,999- $400,000 $599,999- $600,000 $999,999- $1,000,000 or more SalesClosed August 2021 August 2022 6005004003002001000 Monthly Market Detail August 2022 Palm Beach County Single Family Homes Closed Sales by Sale Price The number of sales transactions which closed during the month Median Time to Contract by Sale Price The median number of days between the listing date and contract date for all Closed Sales during the month
$150,000 - $199,999 11 Days 22.2%
ProducedbyFloridaRealtors®withdataprovidedbyFlorida'smultiplelistingservices.StatisticsforeachmonthcompiledfromMLSfeedsonthe15thdayofthefollowingmonth. DatareleasedonWednesday,September21,2022.NextdatareleaseisThursday,October20,2022.
$50,000 - $99,999 1 Day -97.6% $100,000 - $149,999
$100,000 - $149,999 10 -41.2%
Less than $50,000 2 100.0% $50,000 - $99,999 4 -60.0%
$400,000 - $599,999 16 Days 60.0% 17 Days 54.5% $300,000 - $399,999 17 Days 70.0%
$1,000,000 or more 228 1.8%
11 Days -26.7%
$600,000 - $999,999 19 Days 90.0% $1,000,000 or more 25 Days 8.7%
Median Time to Contract Percent Year-over-YearChange
$400,000 - $599,999 416 -19.4% $600,000 - $999,999 365 11.3%
$150,000 - $199,999 16 -52.9% $200,000 - $249,999 22 -73.8%
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 representedbyyear-over-yearchanges(i.e.comparingamonth'ssales totheamountofsalesinthesamemonthinthepreviousyear),rather thanchangesfromonemonthtothenext.
Sale Price
Sale Price Closed Sales Percent Year-over-YearChange
Less than $50,000 35 Days 400.0%
1,6001,4001,2001,0008006004002000 Less$50,000than $50,000 $99,999- $100,000 $149,999- $150,000 $199,999- $200,000 $249,999- $250,000 $299,999- $300,000 $399,999- $400,000 $599,999- $600,000 $999,999- $1,000,000 or more Inventory August 2021 August 2022 6005004003002001000 Less$50,000than $50,000 $99,999- $100,000 $149,999- $150,000 $199,999- $200,000 $249,999- $250,000 $299,999- $300,000 $399,999- $400,000 $599,999- $600,000 $999,999- $1,000,000 or more ListingsNew August 2021 August 2022 60050040030020010001,6001,4001,2001,0008006004002000 Monthly Market Detail August 2022
Palm Beach County Family Homes
$150,000 - $199,999 21 -48.8%
$250,000 - $299,999 94 -5.1%
Economists' note: New Listings tend to rise in delayed response to increasing prices, so they are often seen as a lagging indicator of market health. As prices rise, potential sellers raise their estimations of value—and in the most recent cycle, rising prices have freed up many potential sellers who were previously underwater on their mortgages. Note that in our calculations, we take care to not include propertiesthatwererecentlytakenoffthemarketandquicklyrelisted, sincethesearenotreally new listings.
New Listings by Initial Listing Price
Less than $50,000 1 0.0%
$250,000 - $299,999 66 -32.7%
ProducedbyFloridaRealtors®withdataprovidedbyFlorida'smultiplelistingservices.StatisticsforeachmonthcompiledfromMLSfeedsonthe15thdayofthefollowingmonth. DatareleasedonWednesday,September21,2022.NextdatareleaseisThursday,October20,2022.
$300,000 - $399,999 219 -34.2% $400,000 - $599,999 514 -6.0% $600,000 - $999,999 506 42.1% $1,000,000 or more 346 47.9%
Current Listing Price Inventory Percent Year-over-YearChange
$200,000 - $249,999 52 -25.7%
$150,000 - $199,999 16 -56.8%
Single
The number of properties put onto the market during the month
Inventory by Current Listing Price
The number of property listings active at the end of the month
$200,000 - $249,999 30 -57.7%
Initial Listing Price New Listings Percent Year-over-YearChange
Less than $50,000 1 0.0%
Economists' note : Thereareanumberofwaystodefineandcalculate Inventory. Ourmethodistosimplycountthenumberofactivelistings onthelastdayofthemonth,andholdthisnumbertocomparewiththe samemonththefollowingyear. InventoryriseswhenNewListingsare outpacing the number of listings that go off-market (regardless of whethertheyactuallysell). Likewise,itfallswhenNewListingsaren't keepingupwiththerateatwhichhomesaregoingoff-market.
$50,000 - $99,999 4 -60.0% $100,000 - $149,999 14 -41.7%
$50,000 - $99,999 3 -57.1% $100,000 - $149,999 8 -63.6%
$300,000 - $399,999 325 5.5% $400,000 - $599,999 874 59.5% $600,000 - $999,999 1,118 146.3% $1,000,000 or more 1,362 67.3%
Closed MedianClosedMedianClosedMedianSalesSalePriceSalesSalePriceSalesSalePrice ProducedbyFloridaRealtors®withdataprovidedbyFlorida'smultiplelistingservices.StatisticsforeachmonthcompiledfromMLSfeedsonthe15thdayofthefollowingmonth. DatareleasedonWednesday,September21,2022.NextdatareleaseisThursday,October20,2022. August 2022 August 2021 Percent Year-over-YearChange Traditional 1,287 1,610 -20.1% $565,000 $483,000 17.0% Foreclosure/REO 5 7 -28.6% $160,440 $375,000 -57.2% Short Sale 0 7 -100.0% (No Sales) $256,000 N/A $400K$200K$0K $600K $1200K$1000K$800KPriceSaleMedian 100%90%80%70%60%50%40%30%20%10%0%SalesClosed Traditional Foreclosure/REO Short Sale 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 J J A 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 J J A Monthly Distressed Market August 2022 Palm Beach County Single-Family Homes 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022
