Palm Beach Real Estate Bounces Back Slightly In March; Still Well Off Last Year’s Pace

Despite recent stagnation and fears of an abrupt real estate slowdown, the Palm Beach County housing market bounced back a bit in March, reports the Palm Beach Post.

Last month, the median price for a single-family home in Palm Beach County was $393,700, according to data released by the Florida Association of Realtors Tuesday. That’s down significantly from the county’s peak of $421,500, seen in November, though up slightly from $391,000 in February.

The number of single-family home sales in the county was 929, up slightly from February but down 33 percent from a year ago at this time. As far as the Treasure Coast goes, meanwhile, the news was similar. The boom is over, but there’s no bust yet. The median price of $258,000 is off last year’s peak but up 10 percent from a year ago.

The number of sales in Martin and St. Lucie counties was 573, down 19 percent from last year. The typical Palm Beach County condo sold for $224,600, up from $220,800 in February. The overall sales volume held steady at 706 units. On the Treasure Coast, the median price was $186,300, down 1 percent from a year ago, while volume was down 34 percent.