2022 Q4 Palm Beach County Market Report

Jeff Wilson & Eric Prego, The Wilson Prego Team presents Douglas Elliman’s 4th Quarter 2022 Market reports for Palm Beach & Broward Co.. These reports give the most up-to-date data on the market by municipality. See more data on individual towns here QR code]
or contact The Wilson Prego Team at [email address] for more information.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

Result highlights include:
-Price trends continued to rise despite higher mortgage rates, mainly from chronic listing inventory shortages, resulting in prices that remain sharply higher than pre-pandemic conditions
– Sales are down from the year-ago sales boom and are generally below pre-pandemic levels
– Listing inventory has been expanding slowly but remains significantly less than pre-pandemic levels
– The pace of the market has cooled from the year-ago frenzy, but it is still moving faster than pre-pandemic levels.

At the Prego Wilson Team with Douglas Elliman, we are continually looking for ways to provide our clients with better information, empowering them to make more informed decisions. Our efforts to create this market report series reflect our strong belief that access to timely information is a vital resource in a market that is constantly changing. Committed to providing the best information in the industry, we are proud to offer this service to you.

The Florida markets we cover continue to experience rising prices as listing inventory remains in short supply. Sales levels are below levels seen in the 2021 housing boom from limited supply and higher mortgage rates. Year over year comparisons have been temporarily distorted by the extreme conditions of the pandemic housing boom in late 2020 and 2021. Temporarily, comparisons against pre-pandemic conditions have been relied on to provide a more accurate context.

Visit Luxury Home Magazine of The Palm Beaches to search more available luxury real estate in South Florida.

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