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Elliman Report: Palm Beach Sales 4Q 2013

CONDO/TOWNHOUSE …Listing inventory fell 13.6% to 370 from the same period last year. The number of sales followed a similar pattern, falling 9.4% to 58 sales. As a result, there was a 1 month decline in the absorption rate, the number of months to sell all inventory at the current pace of sales, to 19.1 months. Days on market, the number of days from the last price change to the contract date, fell by one third from the prior year quarter…

SINGLE FAMILY …There were 28 sales in the fourth quarter, 2 more than the prior year quarter and 1 more than the prior quarter. Listing inventory fell 24.4% to 127 over the same period as the number of days to sell a property fell by 3 months to 199 days from the prior year quarter. Listing discount, the percentage difference between the list price at time of sale and the sales price fell to 13% from 15.6% in the prioryear quarter…

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