PALM BEACH COUNTY REAL ESTATE MARKET REPORTS – August 2018

There is no doubt if you talk to any real estate agent in the know in Palm Beach county, they will tell you a market shift has begun.  The market has most definitely slowed…. And yet… some of the numbers would indicate otherwise, so rather than saying a shift, I am going to say we have in a brief pause.

When we look at Florida as a whole, we are starting to see the possibility of a new – and much needed – ‘trend.” This is the second month in which inventory – especially under $400,000 –  has increased! (Yes, you read that right!) This is amazing news for our buyers who have been struggling with the low inventory and higher prices!

As always, Palm Beach county is its own unique market segment, though. Here at home, cash sales are still at a low percentage of total sales but mortgages are closing faster!  There are many new mortgage programs which provides options to our buyers. So, sellers: this is great news for you as well as it increases our pool of potential buyers for your home.  

Interestingly, both the median and average sales prices are down in August as compared to July. But, at the same time, closed sales at price points over $600,000 are up.  My interpretation of this is that we have had far too much inventory on the high end. Homes have been sitting on the market, over-priced for too long.  New listings have been coming on over-priced, too. But now, prices are starting to better align with the reality of the market. Comps should be closely analyzed. We need to be looking at what has actually sold – not what is active on market.  Prices are being reduced on the higher end to be more realistic, and low and behold – they are selling!!!!

Now is a great time to buy or to sell. Just be realistic on listing price, and of course, realistic about the product – your home! Curb appeal matters. Get people into the home and, if it’s priced right, we will be celebrating a contract!

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.

Aug 2018 real estate market Palm Bach County

Aug 2018 real estate market Palm Bach County

Aug 2018 real estate market Palm Bach County

How We Can Help with Real Estate Transactions that Involve Probate

How does the All About Florida Homes team tailor our approach when your transaction involves probate?

– We are highly experienced agents and can create a strategy to get the property sold in the shortest time for the highest price using our proven system.

(Note: Amy has 15+ years experience as a title agent – this sets her up with unique skills in handling these types of transactions for our clients.)

– We perform a market analysis and work with the Personal Representative and the Heirs to determine the appropriate list price and strategy: Do you need to dispose of the property quickly? Do you need to maximize the selling price to provide the greatest cash benefit to the heirs?

– We have a database of clients/buyers who are always looking for new properties in Palm Beach County. We also market our listings online for maximum exposure to potential buyers worldwide.

– We personally show the property to potential buyers and/or their agents

– We present the offers and work with the Personal Representative and heirs to negotiate the contract and ensure the process adheres to the court-determined timeline.

Let us know if we can help you – or someone you know.

You can request a no-obligation home value assessment here.

And, to learn more about how probate affects property, check out our Probate Resource page here! 

Our Ears are Burning – Client Love Letters!

As real estate salespeople, there is truly no feeling more amazing than when our client – a buyer or a seller – achieves his or her goal! The moment a buyer takes her keys… The excitement in the eyes of the sellers right after closing… This is our “why.”

We want to share a few notes we’ve received from past clients. We hope they help you know how committed we are to being the best at what we do – and to leveraging all of our experience and abilities to achieve the outcomes our buyers and sellers wish for! 

“Amy and Noreen or amazing to work with. We had a slightly complicated sale and both agents were skillful at taking care of details while keeping everyone calm and happy. I recommend this team to anyone wanting to sell or buy real estate. I cannot say enough positive things about them both. I only wish I still lived in the area so I could work with them again!” – Rebecca P.

We recently purchased a home and could not have been more pleased with the professionalism, service and attention to detail from Noreen and Amy throughout the transaction. They are a terrific team with skills that complement each other. With so many moving parts to a real estate closing, it’s easy for something to slip through the cracks. Not in our case. Amy and Noreen were on top of everything and made it seem easy. They are real pros! – Chris L. 

“We can’t say enough good things about Amy & Noreen!! It took us a couple months and a lot of houses before we found the right one.  Noreen was always so happy to take us out to see houses, sometimes a second or a third time! Amy was awesome through out the closing, we felt like she had our best interest at heart and really relied on her knowledge! I would recommend them to anyone who wants a knowledgeable, kind and patient team to work with, they really are the best.”  – Jenn V.

Blushing!
Amy and Noreen

PS – If you’re interested in buying – now or in the future – you can search listings here – and start to familiarize yourself with the buying process and the market.

If selling may be in your future – or you’re just curious about what your home is worth today – you can request a no-obligation home value assessment here.

Or, 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!

PALM BEACH COUNTY REAL ESTATE MARKET REPORTS – July 2018

It’s always a challenge each year to analyze and interpret the real estate market trends for the month of July.

Many families are finishing up vacations and getting kids ready to go back to school. Especially in south Florida, it’s a slower time of the year.     

August is typically when thing start to pick back up – There are more real estate listings, more showings and more contracts! Closed sales are very seasonal and summer is typically a less active time for the South Florida market.

With that said, there were a few indicators in July that are important:  

  • New listings in Palm Beach County are down from the same time (summer) last year – So our inventory is still tight in Palm Beach County and did not improve compared with last year.  
  • But, interestingly, even with the smaller inventory, median time-to-contract increased.  That tells us that homes are still going on market overpriced. So, it is important that the “Closed” sales are really being evaluated with a heavier weight than the “Active.” Active matters, as that is your competition. But if everyone is sitting on market overpriced and not selling, then you aren’t helping your cause to join in at their price point.  Recent closed sales are a better indicator, as they show where people are buying.


It is our job as Realtors to show you the reality of the market and to provide real advice about how to get your home sold!  Sitting on market is not your friend, and we won’t mince our words about that. 😊

Not much has changed in Palm Beach County over last month at the price points we like to assess:

  • The $300-399K range is still a seller’s market.
  • The $400K to $999K range is still a balanced market;  
  • The $1 million +range is still a buyers’ market (as of July’s data anyway!).

For those thinking of selling your home – September is it!  Kids are back in school. Parents have more time and are starting their home searches.  Season is beginning and buyers are on their way into town to look for second homes
– or planning relocations to our beautiful state!

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.


Amy Stark Snook & Noreen Payne
All About Florida Homes Team
Keller Williams Realty
561-571-2289

Palm Beach County Real Estate Market Reports - July 2018