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Elliman Report: Palm Beach Sales 2Q 2017
There were more Palm Beach sales of condos and single families as compared to the same time last year. The average sales size for the condo market and the luxury market were larger, pushing most price trend indicators higher. There were 92 condo sales in the quarter, up 9.5% and there were 47 single family sales, up 51.6% respectively from the same quarter a year ago. The condo absorption rate, the number of months to sell all listings at the current rate of sales, was 4.4% faster than the prior year quarter, falling to 8.6 months. The single family absorption rate was 28.8% faster than the prior year quarter, declining to 8.9 months.
