The market numbers are out for January and confirm what I have noticed for the past few months. Closed sales are down and new listings are way up.
Year over year the number changed slightly but the month to month numbers are dramatic. Closed sales dropped 23% from December 2013 to January 2014 in Palm Beach County
There were 2,733 new listings in January which was an increase of 46.7% from December 2013.
Analyst blame the cold winter and look to the spring season for national numbers to rebound. Our concern here is that we here in South Florida are in the heart of the busy Real Estate season and these numbers do not paint a pretty picture going forward through 2014.
If you need information on the local market or information on a property feel free to contact me