Monthly Indicators NORTH PALM BEACH COUNTY
December 2019
Quick Facts
In 2019 home prices were up again in most markets. Buyer demand continues to be strong but with tepid seller activity still in many locations, total sales are lower than they would normally be in a more balanced market. While up from their recent lows a few months ago, mortgage rates end the year close to three-quarters of a percent lower than a year ago, helping to improve affordability and offset rising home prices. New Listings decreased 2.6 percent for Single Family homes and 0.4 percent for Townhouse/Condo homes. Pending Sales decreased 2.2 percent for Single Family homes and 4.0 percent for Townhouse/Condo homes. Inventory decreased 19.8 percent for Single Family homes and 11.3 percent for Townhouse/Condo homes. Median Sales Price remained flat at $375,000 for Single Family homes but increased 12.5 percent to $205,000 for Townhouse/Condo properties. Median Time to Contract decreased 32.6 percent for Single Family homes and 18.9 percent for Townhouse/Condo homes. Months Supply of Inventory decreased 22.8 percent for Single Family homes and 11.1 percent for Townhouse/Condo homes. With low mortgage rates, low unemployment, and continued wage growth, home buyer activity is expected to remain healthy into the new year. New construction has been on the rise in 2019 and is expected to continue into 2020, but many experts note that the country is still not building enough new units to quench demand. It remains to be seen whether existing homeowners will be enticed to sell by higher home prices, which could finally bring the overall housing market into greater balance.
+ 9.0%
+ 4.9%
- 15.9%
Change in Closed Sales All Properties
Change in Median Sales Price All Properties
Change in Homes for Sale All Properties
This is a research tool provided by the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. Percent changes are calculated using rounded figures.
Single Family Market Overview Townhouse/Condo Market Overview Closed Sales Median Sales Price Average Sales Price Dollar Volume of Closed Sales (in millions) Percent of Original List Price Received Housing Affordability Index Median Time to Contract Pending Sales New Listings Inventory of Homes for Sale Months Supply of Inventory Total Market Overview
2 3 4 5 6 7 8 9 10 11 12 13 14 15
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime.
Single Family Market Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Single Family properties only.
Key Metrics
Historical Sparkbars
Closed Sales 12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
Median Sales Price
Average Sales Price 12-2017
Dollar Volume of Closed Sales (in millions) Percent of Original List Price Received
12-2017
6-2018
6-2018
12-2018
12-2018
6-2019
6-2019
12-2018
12-2019
% Change
YTD 2018
YTD 2019
% Change
564
597
+ 5.9%
7,604
7,643
+ 0.5%
$375,000
$375,000
0.0%
$370,000
$375,000
+ 1.4%
$493,071
$510,195
+ 3.5%
$615,242
$611,375
- 0.6%
$278
$305
+ 9.7%
$4,670
$4,666
- 0.1%
92.9%
94.1%
+ 1.3%
93.5%
93.5%
0.0%
82
82
0.0%
83
82
- 1.2%
46
31
- 32.6%
35
40
+ 14.3%
418
409
- 2.2%
7,502
7,792
+ 3.9%
717
698
- 2.6%
12,082
11,388
- 5.7%
3,545
2,842
- 19.8%
––
––
––
5.7
4.4
- 22.8%
––
––
––
12-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
Housing Affordability Index
Median Time to Contract
Pending Sales
New Listings
Inventory of Homes for Sale
Months Supply of Inventory
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime. | 2
Townhouse/Condo Market Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Townhouse/Condo properties only.
Key Metrics
Historical Sparkbars
Closed Sales 12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
Median Sales Price
Average Sales Price 12-2017
Dollar Volume of Closed Sales (in millions) Percent of Original List Price Received
12-2017
6-2018
6-2018
12-2018
12-2018
6-2019
6-2019
12-2018
12-2019
% Change
YTD 2018
YTD 2019
% Change
492
554
+ 12.6%
6,878
6,675
- 3.0%
$182,250
$205,000
+ 12.5%
$188,450
$195,000
+ 3.5%
$276,095
$364,355
+ 32.0%
$291,163
$335,301
+ 15.2%
$136
$200
+ 47.1%
$2,000
$2,232
+ 11.6%
93.4%
93.4%
0.0%
93.4%
93.1%
- 0.3%
169
150
- 11.2%
164
158
- 3.7%
37
30
- 18.9%
37
39
+ 5.4%
400
384
- 4.0%
6,794
6,753
- 0.6%
676
673
- 0.4%
10,424
10,138
- 2.7%
3,076
2,728
- 11.3%
––
––
––
5.4
4.8
- 11.1%
––
––
––
12-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
Housing Affordability Index
Median Time to Contract
Pending Sales
New Listings
Inventory of Homes for Sale
Months Supply of Inventory
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime. | 3
Closed Sales A count of the actual sales that closed in a given month.
December 610
- 8.8%
564
- 7.5%
Year to Date 597
554
532
+ 5.9%
2017 2018 2019 Single Family
492
- 1.8%
- 7.5%
7,708
7,604
7,643 6,630
+ 12.6%
2017 2018 2019 Townhouse/Condo
- 3.2%
- 1.3%
+ 0.5%
2017 2018 2019 Single Family
- 0.6%
6,878
+ 3.7%
6,675
- 3.0%
2017 2018 2019 Townhouse/Condo
Closed Sales
Single Family
Year-Over-Year Change
Townhouse / Condo
Year-Over-Year Change
Jan-2019
398
- 19.3%
391
- 16.1%
Feb-2019
490
- 4.1%
458
- 3.0%
Mar-2019
682
- 5.4%
628
- 0.5%
Apr-2019
756
+ 0.4%
706
+ 8.8%
May-2019
793
+ 4.5%
736
- 2.1%
Jun-2019
741
- 6.4%
546
- 16.5%
Jul-2019
782
+ 22.8%
587
+ 0.3%
Aug-2019
649
- 3.9%
587
- 3.6%
Sep-2019
598
+ 14.8%
489
- 3.6%
Oct-2019
611
- 6.9%
532
+ 3.5%
Nov-2019
546
+ 4.6%
461
- 15.7%
Dec-2019
597
+ 5.9%
554
+ 12.6%
12-Month Avg
637
+ 0.5%
556
- 3.0%
Historical Closed Sales by Month
Single Family
Townhouse/Condo
1,000
800
600
400
200
0 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime. | 4
Median Sales Price Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.
December
Year to Date
$375,000 $375,000
$365,000
$350,000
$370,000 $375,000
$205,000 $165,000
+ 9.0%
+ 2.7%
0.0%
2017 2018 2019 Single Family
- 2.9%
$182,250
$172,500
+ 10.5% + 12.5%
2017 2018 2019 Townhouse/Condo
+ 7.7%
+ 5.7%
Single Family
Year-Over-Year Change
Townhouse / Condo
Year-Over-Year Change
Jan-2019
$370,000
+ 10.8%
$180,000
+ 2.9%
Feb-2019
$360,000
- 4.8%
$190,000
+ 8.6%
Mar-2019
$385,000
+ 0.3%
$191,500
+ 9.4%
Apr-2019
$382,500
- 1.3%
$193,500
- 2.9%
May-2019
$389,900
+ 4.0%
$195,000
+ 2.6%
Jun-2019
$379,000
+ 1.1%
$200,000
- 0.5%
Jul-2019
$370,000
- 0.5%
$190,000
+ 5.6%
Aug-2019
$374,450
+ 5.5%
$203,000
+ 11.5%
Sep-2019
$375,000
+ 5.7%
$208,000
+ 8.1%
Oct-2019
$371,250
+ 1.0%
$179,000
- 9.1%
Nov-2019
$374,250
+ 3.4%
$199,000
+ 7.5%
Dec-2019
$375,000
0.0%
$205,000
+ 12.5%
+ 1.4%
$195,000
+ 3.5%
Median Sales Price
+ 1.4%
2017 2018 2019 Single Family
+ 7.8%
$188,450 $195,000
+ 9.2%
+ 3.5%
12-Month Avg* $375,000
2017 2018 2019 Townhouse/Condo
* Median Sales Price for all properties from January 2019 through December 2019. This is not the average of the individual figures above.
Historical Median Sales Price by Month
Single Family
Townhouse/Condo
$500,000
$400,000
$300,000
$200,000
$100,000
$0 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime. | 5
Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month.
December
Year to Date
$649,546
$615,242 $611,375 $558,967 $493,071
$510,195
$364,355 $252,479
+ 45.2% - 24.1%
+ 3.5%
2017 2018 2019 Single Family
- 1.8%
$335,301 $291,163
$276,095
$250,470
+ 9.4% + 32.0%
+ 9.9% + 10.1%
2017 2018 2019 Townhouse/Condo
Single Family
Year-Over-Year Change
Townhouse / Condo
Year-Over-Year Change
Jan-2019
$660,104
+ 5.6%
$294,521
+ 7.8%
Feb-2019
$525,806
- 16.7%
$288,298
+ 10.3%
Mar-2019
$649,141
- 8.6%
$404,350
+ 44.6%
Apr-2019
$684,784
- 12.7%
$313,171
- 6.2%
May-2019
$747,186
+ 22.1%
$304,049
- 15.5%
Jun-2019
$576,921
- 13.7%
$301,965
- 8.8%
Jul-2019
$686,790
+ 23.4%
$363,078
+ 44.8%
Aug-2019
$586,182
+ 8.2%
$403,442
+ 37.9%
Sep-2019
$562,182
+ 13.7%
$368,823
+ 45.5%
Oct-2019
$551,789
- 5.5%
$271,693
- 0.5%
Nov-2019
$506,176
- 15.2%
$326,831
+ 26.1%
Dec-2019
$510,195
+ 3.5%
$364,355
+ 32.0%
12-Month Avg* $611,375
- 0.6%
$335,301
+ 15.2%
Avg. Sales Price
- 0.6%
2017 2018 2019 Single Family
+ 9.3% + 16.2% + 15.2%
2017 2018 2019 Townhouse/Condo
* Avg. Sales Price for all properties from January 2019 through December 2019. This is not the average of the individual figures above.
Historical Average Sales Price by Month
Single Family
Townhouse/Condo
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime. | 6
Dollar Volume of Closed Sales (in millions) The total dollar volume for all closed sales in a given month (in millions). Does not account for seller concessions.
December
$ Volume of Closed Sales (in millions)
Year to Date $4,670
$4,666
$4,304 $396
$278
$305
$200
$2,000
$2,232
$1,658 $134
+ 32.4% - 29.8%
+ 9.7%
2017 2018 2019 Single Family
- 3.6%
$136
+ 1.5% + 47.1%
2017 2018 2019 Townhouse/Condo
+ 6.4%
+ 8.5%
- 0.1%
2017 2018 2019 Single Family
+ 8.7% + 20.6% + 11.6%
2017 2018 2019 Townhouse/Condo
Historical Dollar Volume of Closed Sales (in millions) by Month
Single Family
Year-Over-Year Change
Townhouse / Condo
Year-Over-Year Change
Jan-2019
$263
- 14.3%
$115
- 9.4%
Feb-2019
$257
- 19.9%
$132
+ 7.3%
Mar-2019
$442
- 13.5%
$254
+ 44.3%
Apr-2019
$518
- 12.4%
$220
+ 1.9%
May-2019
$591
+ 27.4%
$223
- 17.7%
Jun-2019
$427
- 19.0%
$165
- 23.6%
Jul-2019
$537
+ 51.7%
$213
+ 44.9%
Aug-2019
$379
+ 3.8%
$236
+ 32.6%
Sep-2019
$336
+ 30.7%
$180
+ 40.6%
Oct-2019
$337
- 12.0%
$144
+ 2.9%
Nov-2019
$275
- 11.6%
$151
+ 6.3%
Dec-2019
$305
+ 9.7%
$200
+ 47.1%
$4,666
- 0.1%
$2,232
+ 11.6%
12-Month Avg*
* $ Volume of Closed Sales (in millions) for all properties from January 2019 through December 2019. This is not the average of the individual figures above.
Single Family
Townhouse/Condo
$700 $600 $500 $400 $300 $200 $100 $0 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime. | 7
Percent of Original List Price Received Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.
December 94.1% 92.9% 94.1%
+ 0.2%
- 1.3%
Pct. of Orig. Price Received
Year to Date
+ 1.3%
2017 2018 2019 Single Family
93.5% 93.4% 93.4%
+ 0.4%
- 0.1%
0.0%
2017 2018 2019 Townhouse/Condo
93.8% 93.5% 93.5%
- 0.1%
- 0.3%
0.0%
93.0% 93.4% 93.1%
- 0.1%
2017 2018 2019 Single Family
+ 0.4%
- 0.3%
2017 2018 2019 Townhouse/Condo
Single Family
Year-Over-Year Change
Townhouse / Condo
Year-Over-Year Change
Jan-2019
92.9%
0.0%
92.3%
- 1.3%
Feb-2019
93.0%
- 1.1%
93.0%
+ 0.1%
Mar-2019
93.0%
- 0.3%
92.8%
- 0.3%
Apr-2019
93.0%
- 0.6%
92.5%
- 0.2%
May-2019
93.1%
- 0.4%
92.8%
- 0.5%
Jun-2019
93.8%
- 0.2%
92.8%
- 0.6%
Jul-2019
93.8%
+ 0.1%
93.6%
+ 0.2%
Aug-2019
93.7%
- 0.4%
93.2%
- 0.7%
Sep-2019
93.8%
+ 0.4%
93.5%
- 0.7%
Oct-2019
93.7%
+ 0.3%
93.2%
- 0.2%
Nov-2019
94.0%
+ 1.3%
93.9%
+ 0.1%
Dec-2019
94.1%
+ 1.3%
93.4%
0.0%
12-Month Avg*
93.5%
+ 0.0%
93.1%
- 0.4%
* Pct. of Orig. Price Received for all properties from January 2019 through December 2019. This is not the average of the individual figures above.
Historical Percent of Original List Price Received by Month
Single Family
Townhouse/Condo
100%
95%
90%
85%
80%
75% 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime. | 8
Housing Affordability Index This index measures housing affordability for the region. For example, an index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
December
Year to Date 187 164
195 169
88
0.0%
82
- 6.8%
83
82
0.0%
2017 2018 2019 Single Family
158
150 92
+ 10.2% - 13.3% - 11.2%
2017 2018 2019 Townhouse/Condo
+ 1.1%
- 9.8%
Single Family
Year-Over-Year Change
Townhouse / Condo
Year-Over-Year Change
Jan-2019
83
- 10.8%
171
- 3.9%
Feb-2019
86
+ 4.9%
162
- 9.0%
Mar-2019
80
- 1.2%
161
- 9.0%
Apr-2019
81
+ 2.5%
159
+ 3.9%
May-2019
79
- 2.5%
158
- 1.3%
Jun-2019
81
- 1.2%
154
+ 0.7%
Jul-2019
83
0.0%
162
- 5.3%
Aug-2019
82
- 4.7%
152
- 10.1%
Sep-2019
82
- 5.7%
148
- 6.9%
Oct-2019
83
+ 9.2%
172
+ 22.0%
Nov-2019
82
+ 3.8%
155
+ 0.6%
Dec-2019
82
0.0%
150
- 11.2%
12-Month Avg
82
- 1.2%
159
- 3.0%
Affordability Index
82
- 1.2%
2017 2018 2019 Single Family
- 0.5%
- 12.3%
- 3.7%
2017 2018 2019 Townhouse/Condo
Historical Housing Affordability Index by Month
Single Family
Townhouse/Condo
500
400
300
200
100
0 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime. | 9
Median Time to Contract Median number of days between when a property is listed and when an offer is accepted in a given month.
December
Year to Date
46 39 31
+ 8.3% + 17.9% - 32.6%
2017 2018 2019 Single Family
34
- 15.0%
37
40
36
35
35
37
39
30
+ 8.8%
- 18.9%
2017 2018 2019 Townhouse/Condo
+ 9.1%
- 2.8%
+ 14.3%
2017 2018 2019 Single Family
0.0%
+ 5.7%
+ 5.4%
2017 2018 2019 Townhouse/Condo
Historical Median Time to Contract by Month
Median Time to Contract
Single Family
Year-Over-Year Change
Townhouse / Condo
Year-Over-Year Change
Jan-2019
44
+ 15.8%
50
+ 51.5%
Feb-2019
46
+ 21.1%
42
+ 10.5%
Mar-2019
48
+ 20.0%
41
+ 13.9%
Apr-2019
41
+ 46.4%
39
+ 8.3%
May-2019
46
+ 35.3%
46
+ 15.0%
Jun-2019
36
+ 12.5%
39
+ 2.6%
Jul-2019
40
+ 25.0%
35
- 12.5%
Aug-2019
40
+ 29.0%
41
+ 24.2%
Sep-2019
39
+ 2.6%
39
+ 11.4%
Oct-2019
41
+ 7.9%
38
- 2.6%
Nov-2019
31
- 20.5%
28
- 17.6%
Dec-2019
31
- 32.6%
30
- 18.9%
12-Month Avg*
40
+ 14.3%
39
+ 5.4%
* Median Time to Contract for all properties from January 2019 through December 2019. This is not the average of the individual figures above.
Single Family
Townhouse/Condo
140
120
100
80
60
40
20 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime. | 10
Pending Sales A count of the properties on which offers have been accepted in a given month.
December
Year to Date
464 418
455 409
400
384
7,644
7,502
7,792 6,721
- 1.9%
- 9.9%
- 2.2%
2017 2018 2019 Single Family
+ 11.0% - 12.1%
- 4.0%
2017 2018 2019 Townhouse/Condo
- 3.1%
- 1.9%
+ 3.9%
2017 2018 2019 Single Family
+ 0.1%
6,794
+ 1.1%
6,753
- 0.6%
2017 2018 2019 Townhouse/Condo
Pending Sales
Single Family
Year-Over-Year Change
Townhouse / Condo
Year-Over-Year Change
Jan-2019
654
- 4.0%
571
- 1.6%
Feb-2019
696
+ 3.6%
608
+ 0.3%
Mar-2019
751
- 9.0%
694
- 3.7%
Apr-2019
840
+ 10.1%
710
+ 6.3%
May-2019
731
+ 4.1%
615
- 7.0%
Jun-2019
688
+ 14.7%
560
- 1.8%
Jul-2019
698
+ 13.7%
571
+ 6.9%
Aug-2019
619
- 1.6%
547
- 4.5%
Sep-2019
521
- 5.1%
485
- 0.4%
Oct-2019
664
+ 20.3%
514
- 7.4%
Nov-2019
521
+ 4.8%
494
+ 12.5%
Dec-2019
409
- 2.2%
384
- 4.0%
12-Month Avg
649
+ 3.8%
563
- 0.5%
Historical Pending Sales by Month
Single Family
Townhouse/Condo
1,000
800
600
400
200
0 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime. | 11
New Listings A count of the properties that have been newly listed on the market in a given month.
December 720
717
Year to Date 698
696
676
673
11,871
12,082
11,388 10,424
- 5.3%
- 0.4%
- 2.6%
2017 2018 2019 Single Family
- 7.9%
- 2.9%
- 0.4%
2017 2018 2019 Townhouse/Condo
- 3.6%
+ 1.8%
Single Family
Year-Over-Year Change
Townhouse / Condo
Year-Over-Year Change
Jan-2019
1,220
+ 3.8%
1,114
+ 3.1%
Feb-2019
1,076
+ 0.6%
936
- 2.2%
Mar-2019
1,016
- 11.1%
927
- 2.8%
Apr-2019
1,047
+ 1.9%
914
- 2.7%
May-2019
1,030
- 1.1%
859
+ 3.1%
Jun-2019
939
- 6.8%
753
- 9.8%
Jul-2019
933
- 4.3%
757
- 2.8%
Aug-2019
796
- 18.9%
738
- 8.7%
Sep-2019
790
- 15.0%
736
- 7.0%
Oct-2019
1,024
- 0.6%
890
- 7.9%
Nov-2019
819
- 16.9%
841
+ 4.5%
Dec-2019
698
- 2.6%
673
- 0.4%
12-Month Avg
949
- 5.8%
845
- 2.8%
New Listings
- 5.7%
2017 2018 2019 Single Family
+ 0.7%
10,424
0.0%
10,138
- 2.7%
2017 2018 2019 Townhouse/Condo
Historical New Listings by Month
Single Family
Townhouse/Condo
1,400
1,200
1,000
800
600
400 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime. | 12
Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month.
December 3,246
3,545 3,051
2,842
3,076
2,728
- 3.3%
+ 9.2%
- 19.8%
+ 5.0%
+ 0.8%
- 11.3%
2017
2018 Single Family
2019
2017
2018 Townhouse/Condo
2019
Homes for Sale
Single Family
Year-Over-Year Change
Townhouse / Condo
Year-Over-Year Change
Jan-2019
3,783
+ 10.6%
3,325
+ 2.8%
Feb-2019
3,868
+ 9.3%
3,400
+ 3.1%
Mar-2019
3,754
+ 7.0%
3,296
+ 2.6%
Apr-2019
3,575
+ 4.3%
3,118
- 1.0%
May-2019
3,449
+ 2.5%
2,974
+ 0.2%
Jun-2019
3,335
- 1.2%
2,822
- 3.7%
Jul-2019
3,194
- 4.6%
2,691
- 6.7%
Aug-2019
3,022
- 7.9%
2,621
- 7.3%
Sep-2019
3,014
- 9.6%
2,588
- 9.8%
Oct-2019
3,010
- 13.1%
2,687
- 9.8%
Nov-2019
3,002
- 16.8%
2,778
- 10.5%
Dec-2019
2,842
- 19.8%
2,728
- 11.3%
12-Month Avg
3,321
- 3.3%
2,919
- 4.1%
Historical Inventory of Homes for Sale by Month
Single Family
Townhouse/Condo
9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime. | 13
Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
December 5.7
5.4
5.1
5.4 4.8
4.4
0.0%
+ 11.8%
- 22.8%
+ 3.8%
0.0%
- 11.1%
2017
2018 Single Family
2019
2017
2018 Townhouse/Condo
2019
Months Supply
Single Family
Year-Over-Year Change
Townhouse / Condo
Year-Over-Year Change
Jan-2019
6.1
+ 15.1%
5.9
+ 1.7%
Feb-2019
6.2
+ 10.7%
6.0
+ 1.7%
Mar-2019
6.1
+ 10.9%
5.9
+ 1.7%
Apr-2019
5.7
+ 5.6%
5.5
- 1.8%
May-2019
5.5
+ 3.8%
5.3
0.0%
Jun-2019
5.3
- 1.9%
5.0
- 3.8%
Jul-2019
5.0
- 5.7%
4.8
- 7.7%
Aug-2019
4.7
- 11.3%
4.7
- 6.0%
Sep-2019
4.7
- 9.6%
4.6
- 8.0%
Oct-2019
4.6
- 16.4%
4.8
- 7.7%
Nov-2019
4.6
- 19.3%
4.9
- 9.3%
Dec-2019
4.4
- 22.8%
4.8
- 11.1%
12-Month Avg*
5.2
- 3.6%
5.2
- 4.1%
* Months Supply for all properties from January 2019 through December 2019. This is not the average of the individual figures above.
Historical Months Supply of Inventory by Month
Single Family
Townhouse/Condo
40
30
20
10
0 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime. | 14
Total Market Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics
Historical Sparkbars
Closed Sales 12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
Median Sales Price
Average Sales Price 12-2017
Dollar Volume of Closed Sales (in millions) Percent of Original List Price Received
12-2017
6-2018
6-2018
12-2018
12-2018
6-2019
6-2019
12-2018
12-2019
% Change
YTD 2018
YTD 2019
% Change
1,056
1,151
+ 9.0%
14,482
14,318
- 1.1%
$295,000
$309,500
+ 4.9%
$290,000
$304,000
+ 4.8%
$391,884
$440,329
+ 12.4%
$461,271
$482,767
+ 4.7%
$413
$505
+ 22.3%
$6,670
$6,898
+ 3.4%
93.1%
93.8%
+ 0.8%
93.5%
93.3%
- 0.2%
104
100
- 3.8%
106
101
- 4.7%
43
30
- 30.2%
36
40
+ 11.1%
818
793
- 3.1%
14,296
14,545
+ 1.7%
1,393
1,371
- 1.6%
22,506
21,526
- 4.4%
6,621
5,570
- 15.9%
––
––
––
5.6
4.6
- 17.9%
––
––
––
12-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
12-2017
6-2018
12-2018
6-2019
12-2019
Housing Affordability Index
Median Time to Contract
Pending Sales
New Listings
Inventory of Homes for Sale
Months Supply of Inventory Single Family and Townhouse/Condo Properties
Current as of January 17, 2020. All data from the MLS of the Realtors® of the Palm Beaches and Greater Fort Lauderdale. | Report © 2020 ShowingTime. | 15