Five things to know from housing report: Palm Beach County prices still strong

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Palm Beach County home prices backed off a bit in July. Highlights from the report released Wednesday by the Realtors Association of the Palm Beaches:

  1. The median price of a home sold in July was $317,250. That’s down slightly from June’s $320,000, but it’s still the second-highest number since the housing crash.
  2. The Palm Beach County median home price is up 11 percent from July 2015. (Palm Beach County’s property appraiser expects values to go up 7 percent to 9 percent this year.)
  3. Sales slowed. There were 1,530 closed deals in July, down 15 percent from a July 2015.
  4. It’s still a seller’s market. Sellers are getting a median of 95.1 percent of their list price, and homes go under contract in 43 days.
  5. The inventory squeeze is loosening a bit. There was a 4.8-month supply of homes in July, up from 4.4 months in July 2015.

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