Palm Beach County Real Estate Market Reports
The April 2018 Palm Beach County real estate market report is here. The results are in and they are interesting!
Closed sales and percent of cash sales are both up from March 2018! And median and average sales price are also up from March – so properties are going under contract faster in April than they were in March and – just as importantly – they are closing faster!
Unfortunately (for some), inventory as a whole has shrunk since March. This often happens this time of year as many people are planning their summer travel and waiting to sell their homes. But, If you are considering selling your home – now is actually a great time because of this tendency! A reduction in inventory means that buyers have fewer homes to choose from – which typically drives up the price.
Each month, we like to look at the market for homes broken down by price category. Doing this helps our suggestions to be more tailored and relevant to you and your particular situation.
We are adding a new segment to our analysis this month – $400,000 – $599,000. We are adding it for several reasons:
> This is a very hot price point right now. We have just taken several new listings in this price point and this market segment is experiencing a balanced market!
> It is the price point where buyers and seller must work together to find the terms that meet needs of both parties. When the parties and agents work together, we achieve a win/win for all parties!
This is in contrast to the $300-$399K category, which is currently a sellers’ market once again.
The $1,000,000+ category is still experiencing a buyers’ market according to the last Palm Beach market results from Florida Realtors.
Buyer and Sellers: We do want to caution you that while the market in your segment maybe tipped your way – and you do have some leeway on your offer or acceptance – we still need to contend with appraisals, inspections and such. So our business hats still need to remain on!
The All About Florida Homes Team is very adept at negotiating contracts in any market and any segment – In fact, many of our client testimonials cite this as one of our strongest suits!
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@example.com or (561) 571-2289. Or you can complete our online request for a market analysis of your home.