Palm Beach County Homes | Housing Market 2023 | VLOG

In Larry Mastropieri's insightful video presentation, he offers a comprehensive analysis of the Palm Beach County, Florida housing market as of September 2023. As a seasoned real estate broker and owner of The Mastropieri Group, Larry delves into various key data points, providing valuable insights for both buyers and sellers.

Larry kicks off his presentation by highlighting a remarkable 12% year-over-year increase in average sales prices since September 2022. He emphasizes the importance of considering trend lines rather than just average data to get a more accurate picture of the market's health. Larry points out that while the average price has seen fluctuations, the median sales price data consistently shows a 9% increase year-over-year, signaling a sustained upward trend.

He also examines the sale-to-original-list-price ratio, indicating a relatively stable and healthy market with a slight uptick in recent months. Larry then discusses the days on market, noting a 61% increase in year-over-year figures but highlighting that historical trends and stability suggest a healthy market overall.

Inventory is a significant topic of discussion, with Larry explaining the 9% decrease in the number of listings compared to the previous year. He provides historical context, illustrating that the current inventory levels, though lower, are not drastically unusual when compared to 2016-2019.

Larry goes on to emphasize the importance of pending data as a leading indicator of market trends, showing a 6% increase in homes under contract for September 2023 compared to the previous year. Finally, he discusses the absorption rate, which currently indicates a seller's market, despite some anomalies in the higher-priced property segment.

Throughout the presentation, Larry underscores the resilience of the South Florida real estate market, noting its surprising strength despite challenges like increased interest rates and insurance market issues. He attributes this resilience to continued population growth and limited sellers, resulting in a seller's market.

In closing, Larry advises that Class-A properties in prime locations continue to perform exceptionally well, while Class-B or C properties may face longer sales times and challenges. Overall, his data-driven insights provide a valuable perspective on the Palm Beach County housing market, benefiting anyone interested in real estate in the region.
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🏠 MUST WATCH South Florida Videos:
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00:00 Introduction To Palm Beach County
00:18 Average Sales Price On Homes In Palm Beach County
01:02 Median Sales Price On Homes In Palm Beach County
01:30 Sale To Original Price Ratio Of Homes In Palm Beach County
02:12 Average Days On Market For Homes In Palm Beach County
03:19 Total Homes Sold In Palm Beach County
04:22 Total Inventory Of Homes In Palm Beach County
04:52 Pending Home Sale Listings In Palm Beach County
05:05 Homes Under Contract In Palm Beach County
05:23 Absorption Rate Of Inventory In Palm Beach County
07:01 Resilience of Palm Beach County
07:42 Other Observations On Palm Beach County
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