Palm Beach County home sales slowed to their lowest level since February, and prices held steady, the Realtor Association of the Palm Beaches said Monday.
Realtors say 1,481 houses changed hands in October, down 0.4 percent from a year ago. The median price was $285,000, up 3.6 percent from a year ago but unchanged from the previous month.
“The Florida real estate market is catching its breath after a frantic summer and early fall,” said Florida Realtors Chief Economist John Tuccillo. “One month’s numbers do not make a trend, but the October numbers are signaling a return toward a more balanced market.”
In a sign that the market is cooling, the typical home needed 37 days to sell, up from 35 days in September.
Palm Beach County’s condo and townhouse market fared better. Realtors recorded 1,209 sales last month, up 2.9 percent from a year ago. The median price was $145,000, up 11.5 percent from October 2014.