Palm Beach County Monthly Real Estate Market Summary: Feb 2018

Posted by Amy Stark Snook on Wednesday, March 21st, 2018 at 12:55pm.

 

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 amyandnoreen@allaboutfloridahomes.com or (561) 571-2289.  Or you can complete our online request for a market analysis of your home.  

 

MONTHLY MARKET DETAIL - February 2018 

SINGLE FAMILY HOMES - PALM BEACH COUNTY:

 

MONTHLY MARKET DETAIL - February 2018

TOWNHOUSES AND CONDOS - PALM BEACH COUNTY:

 

 

Palm Beach County Local Market Summary - February 2018

 

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