Hey there, buyers and sellers! Let's break down some key real estate metrics to help you understand what's going on in the Century Village West Palm Beach market for October ‘24.
First up, we have the Months Supply of Inventory, which is currently sitting at 9.11. This means that it would take about 9.11 months to sell all the current inventory if no new homes were added to the market.
Next, we have the 12-Month Change in Months of Inventory, which has increased by a whopping 45.53%. This indicates that there are more homes available for sale compared to last year.
The Median Days Homes are On the Market is 114, which tells us that it's taking a little over 3 months for homes to sell on average.
When it comes to pricing, the List to Sold Price Percentage is 94.1%, meaning that homes are selling for about 94.1% of their list price.
And finally, the Median Sold Price is $100,950, giving us an idea of the average price at which homes are selling in the market.
And that's your October 2024 Century Village Market Update. Overall, these metrics suggest there's a decent amount of inventory available, homes are taking a bit longer to sell, and prices are holding steady with sellers getting close to their asking price. Keep these factors in mind whether you're looking to buy or sell in the current market. Happy house hunting!
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