PALM BEACH COUNTY REAL ESTATE MARKET REPORTS
We just love seeing the results from the first month of a calendar year – and just as excited to review and present to you the first quarter results – so be certain to check back in April for the first quarter review!
January 2018 results did bring changes – especially in the $300 to $399K market. Last month we reported that the statistics showed that the low inventory pointed to a seller’s market. Well look out sellers! Because we now have a balanced market in this price range. What does this mean to you our sellers? Pricing needs to be more realistic. There is not as much frenzy in general to buy – although we are all seeing that frenzy for homes in this price range IF they have curb appeal and are priced right!
In the $600K – 1,000,000+ range, it’s still a buyer’s market. However, inventory for homes at $699K to 999,999 is UP, while that of $1,000,000+ is down.
Median time to contract is down overall, which always helps our market start to move. Plus, closed sales are up from this time last year. All of these indicators are fabulous for our local Palm Beach Market. We are especially pleased with the news that the average sales price in Palm Beach County is up to over $600,000 for over the first time in the last 12 months.
Properties are moving faster. Fewer cash transactions means the lenders are finding ways to get their loans moving quickly, and the average price is creeping up! It is a great time to buy or sell in Palm Beach County.
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.
