Palm Beach, FL – July 14, 2017– Palm Beach real estate sales increased 5% in July after “Big Event” – the arrival of a new president and new Congress, as well as the first presidential inauguration since the Affordable Care Act was passed in 2010.
The number of new home sales increased 8.5% in August and 9.3% in September, according to the National Association of Realtors.
The real estate market has been in the midst of a strong rebound since the Great Recession, with sales up 4.5 percent in the month of August.
Sales rose by 10% in October and by 10.1% in November, according the Realtor Association.
Sales also rose by 5.6% in December and by 4.4% in January, the association said.
The Realturists Association said there were 5.3 million homes sold in July and the July figures were up from 5.1 million in June.
According to the RealtyTrac, there were 7,800 condo sales in July, up from 6,800 in June, and there were 1,300 homes for sale in September.
In August, there was 3,100 condos for sale, up slightly from 2,900.
Sales in the condo market were up 6.5%.
The Realty Trac reported that the median sale price for condos was $1.8 million, down from $1,895 million in the first quarter of 2016.
The median sale for single-family homes was $3.3, down slightly from $3,928 in the third quarter of 2015.
The average price for a home was $6,837 in July.
The national median price was $7,500.
The nationwide median price is $7.3M.
The National Association for Realture said the Trump Administration’s actions on mortgage regulations will help lower mortgage rates and lower the cost of home ownership, which will further boost home sales and help lift people out of poverty.
According a press release from the Realsite Association, there are now more than 2.7 million homes in Florida, down 1.5 million from the second quarter of 2017.
Florida is a “must-do” state for real estate professionals, according Realsource, which said there are about 5,000 real estate schools in the state.
Realsources research found that in June and July, Florida experienced a surge in sales.
There were 1.4 million new home deals and a surge of 6.3 percent in sales of condominiums and single-home sales, which rose 4.1 percent in August.
According the Realesource report, the number of sales in August totaled 8,817, which is up from 7,822 in July which is down from 8,935 in June which is also down from 9,948 in May which was also down.
Sales were up by 4% in June to 4,638, and by 6.7% in May to 4:12pm.
Realesources data also shows that in July sales were up in all of the three metro areas: Orlando, Miami and Palm Beach.
Sales of condopos rose by 4%, condominium sales rose by 2.8% and single home sales rose 2.6%.
The national average price of a home is $1 million.
In September, the median price for homes was up 1.9% to $6.3million.
In June, the national median was $5,000.