SUMMER 2018 – PALM BEACH COUNTY REAL ESTATE MARKET REPORTS

Summer is wonderful! It’s time to take vacations with the family, enjoy the summer heat, and take advantage of great summer specials around town.  And, it’s a great time to get your home ready for sale before the school season starts again.

We have good news as we evaluate the June market reports, which were released recently by the Realtors of the Palm Beaches and Greater Fort Lauderdale.

Inventories are still low…however, it does appear that the market maybe stabilizing. Indicators suggest the inventory crisis may not be getting any worse.  It isn’t getting better quite yet, but at least we may start heading in the right direction! The current low inventory does, of course, drive up home prices. But we are optimistic about it normalizing and look forward to the market reports for Palm Beach county for the next quarter. 
 
The market balance has not changed since we last reported these stats to you:

• In the category of “under $400K,” we still have a seller’s market. If you are selling in this range, your home still needs to be priced properly and staged to sell. But if priced right, your home will go under contract!   



 

• In the category of $400K up to $999K – it is balanced market. The best practices of good selling and negotiating prevail!

 

• Over $1,000,000 – Sorry, sellers, it’s still a buyer’s market due to a plethora of inventory – 13 months’ worth in Palm Beach County, to be specific.  Sellers, in this category we must be strategic and patient in the process. Buyers will come but pricing, staging and marketing are very important given the positioning in this market.

 

Watch your neighborhood’s list prices to ensure your home is competitive. Analyze the neighborhood solds, too. Together we will determine the right price to sell, and help you reach your goals.

Contact us at (561) 571-2289 – or via amyandnoreen@allaboutfloridahomes.com – if we can provide you with any additional market data that will help inform your decisions! We are here to help – with no obligation.