Archive for category: Real Estate Market Report

Palm Beach County Real Estate Market Reports

The April 2018 Palm Beach County real estate market report is here. The results are in and they are interesting!    

Closed sales and percent of cash sales are both up from March 2018!  And median and average sales price are also up from March – so properties are going under contract faster in April than they were in March and – just as importantly – they are closing faster!  

Unfortunately (for some), inventory as a whole has shrunk since March. This often happens this time of year as many people are planning their summer travel and waiting to sell their homes. But, If you are considering selling your home – now is actually a great time because of this tendency! A reduction in inventory means that buyers have fewer homes to choose from – which typically drives up the price.

Each month, we like to look at the market for homes broken down by price category. Doing this helps our suggestions to be more tailored and relevant to you and your particular situation.

We are adding a new segment to our analysis this month – $400,000 – $599,000. We are adding it for several reasons:

>  This is a very hot price point right now. We have just taken several new listings in this price point and this market segment is experiencing a balanced market!   

>  It is the price point where buyers and seller must work together to find the terms that meet needs of both parties. When the parties and agents work together, we achieve a win/win for all parties!     

This is in contrast to the $300-$399K category, which is currently a sellers’ market once again.

The  $1,000,000+ category is still experiencing a buyers’ market according to the last Palm Beach market results from Florida Realtors.      

Buyer and Sellers: We do want to caution you that while the market in your segment maybe tipped your way – and you do have some leeway on your offer or acceptance – we still need to contend with appraisals, inspections and such.  So our business hats still need to remain on!

The All About Florida Homes Team is very adept at negotiating contracts in any market and any segment – In fact, many of our client testimonials cite this as one of our strongest suits!

Now is a a great time to email or call us to evaluate your home’s price, position, and marketing plan. It would be our pleasure to help you plan and execute the perfect sales strategy! Contact us today at [email protected] or (561) 571-2289.  Or you can complete our online request for a market analysis of your home.

 

The Palm Beach County real estate market reports have been released by The Realtors of the Palm Beaches and Greater Ft Lauderdale and by Florida Realtors. Here are our thoughts and analysis of the numbers!

We cannot speak for every Realtor in the area, but we can tell you that the All About Florida Homes Team of Keller Williams Realty is very busy right now with both buyers and sellers.     

With interest rates moving up, buyers are buying! So, what does this mean for sellers? The bottom line is this: Price the listings right and they sell.  

Don’t compare your home or your situation to where everyone else is sitting (possibly overpriced) on the market. Instead, look carefully and critically at your particular situation and develop a selling plan that is specific to you and your home. Let us show you what has SOLD in the area – and lets price it right.

Let us be clear: That doesn’t mean you will leave money on the table. if you price it right in this market, you can get several offers above asking. Talk to the (former) owners of some of our recent listings. We successfully moved their homes above asking- Why? Because we priced it right. People came to see it, loved the home, loved the staging, and “had to have it!”   

Other notables:

>>> We have a balanced market in the $300 – $399K price bracket; … but a buyers’ market $600K+ and $1,000,000+ bracket.

>>> New listings are coming on the market and we are ahead compared to the same time last year.

>>> The median sales price is up and this is the largest gain since last June.

Now with all of that said, it is our opinion that we cannot sustain the current pace of growth. We have a low inventory of affordable housing and an increasing mortgage rate. These are signs that while we expect a strong market to continue, we simply don’t expect it to keep growing month over month.

I know we risk sounding like a broken record here, but it is the truth! If you stage your homes, take professional pictures to attract potential buyers and agents to your home, and then price it correctly, your home WILL sell.  Check out this page of our website – and our Facebook page – to see our activity, and the proof that this strategy is successful!

Of course, whether you are a buyer or a seller, working with the right Realtor is key! The All About Florida Homes Team would love to help you on your journey.

Now is a a great time to email or call us to evaluate your home’s price, position, and marketing plan. It would be our pleasure to help you plan and execute the perfect sales strategy! Contact us today at [email protected] or (561) 571-2289.  Or you can complete our online request for a market analysis of your home.