How is COVID-19 Impacting Home Sale Transactions? (Palm Beach County)
Although the “official” stats for the Palm Beach County housing market have yet to be published, here are the results for several local area zip codes where are data was obtained from the local multiple listing service.
The accompanying charts shows the number of housing transaction conducted for the years 2018, 2019 and 2020 in six (6) featured zip codes.
The data indicates substantial declines in both the number of housing transactions as well as the aggregate dollar volume of those transactions. Since residential real estate deals typically take 30 to 60 days to close, it is anticipated that many of these agreements originally took place at the early onset of the COVID-19 pandemic. As a result we are expecting similar declines for the month of May.
The official state and county reports as well as the individual city reports will be published in about a week and we will have those posted on the Market Reports page of our web site.
The South Florida Real Estate Market
To learn more about the residential and commercial real estate market in Palm Beach County as well as throughout South Florida, please visit the Real Estate Market Reports page on our web site.
Every month our market report page is updated with the latest published reports on the housing market in Palm Beach, Martin, Broward, and Miami-Dade counties as well as commercial real estate information which is provided by data providers and local market experts.