The townhouse and condo segment told a different story in December. Closed sales dropped 22% to just 40 transactions, a significant pullback from the previous year's activity. However, prices proved resilient, with the median sale price edging up 2.1% to $428,750. Active inventory contracted by 13% to 213 units, while months of inventory improved to 4.8 months from 5.7 months a year ago. New listings increased 12% to 55 properties, and new pending sales climbed 13% to 35 transactions, suggesting buyer interest may be rebuilding as the year closed.
Palm Beach Gardens wrapped up December with a tale of two markets: single-family homes charging ahead with double-digit growth in both sales and prices, while townhouse and condo buyers adopted a more cautious approach despite improving inventory conditions.
Thinking about making a move in Palm Beach Gardens? The Branham Group has the local expertise and market knowledge to help you navigate these shifting conditions and find the perfect opportunity.
