The Realtors of the Palm Beaches and Greater Fort Lauderdale – and our state-level counterpart Florida Realtors – have released their market reports for March of 2019. Here is our analysis!
The first notable: Sellers of higher-end homes did in fact get more realistic and reduced their pricing to more appropriate levels – market supporting. As we predicted, homes started to sell as a result.
How do we know this?
First (and the easier factor to spot): the inventory went down in terms of homes over $1,000,000.
Second: Further data to support this is that the “average sales” for all of Palm Beach County increased at a higher rate than did the median sales price. This indicates that we had sales of higher-end homes!
Overall, the market analysis for this month indicates a more typical – more stable – market… and we really needed that!
Buyers need this to know this is a good time to buy – that they are not overpaying – and that the market supports the pricing in which we are operating.
The $400,000 to $500,000 price point moved from a buyers’ market to a balanced market. All other market segments (from our report last month) stayed about the same. However, the number of months of inventory improved again – supporting the fact that we are in a more stable environment for all!
Contact us at (561) 571-2289 – or via firstname.lastname@example.org – if we can provide you with any additional market data that will help inform your decisions! We are here to help – with no obligation.