March was an interesting month for analyzing our Palm Beach County real estate market report numbers. Looking at the year over year figures (March 2018 to March 2017), Palm Beach County as a whole (not broken down by sales price) was down in these categories: percentage in closed sales, time to contract, new listings, pending sales and inventory (which was already low).
However, total dollar volume increased almost 12 % overall. We are doing fewer transactions, but at a higher price per transaction – not great news for buyer.
But wait……there was a recent drop in interest rates so buyers… it’s game on! – and we can help you find a home. It may take some creativity in structuring the deal to make it a win/win for all, but it’s totally do-able!
Cash sales are down again so financing is a reality that sellers need to face, so appraisals are a factor and pricing properly is imperative.
Other notables, by price category:
$300-399K – is once again a seller’s market!
$600,000-999,999 – balanced market.
$1,000,000 and above – still a buyers’ market.
The type of market (amount of inventory) as well as the product (your home) are factors when we create your home’s list price strategy.
We are working on a market report detailing the 1st Quarter 2018 – the final results are coming out in the next week or so from Florida Realtors so please stay tuned for our interpretation of the results!