The Realtors Association released the housing sales metrics for July 2023 and for Jupiter and Palm Beach Gardens we see a similar story. The sales of single family homes in July were good with all the metrics up and the months supply of inventory down from 3.2 to 2.4 months. IMO, when this is around 3 months we have a nice balanced, stable market. In fact we did something in the office recently we had not seen in a while. It was our listing and we had multiple offers that went to a “highest and best” scenario.
Condos and Townhouses are another story. Total sales numbers are down but at slightly higher prices per unit. The months supply of inventory is up to 2.5 but we with fewer new listings comeing onto the market.
