July 2013-Palm Beach County Monthly Market Update-Single Family Homes

July 2013 marked a crazy month for Single Family Home sales in Palm Beach County! Except for inventory numbers, every single recorded statistical number has moved in the correct direction from July of  2012. Closed Sales jumped over 20% which is a lucrative jump in the world of real estate. Median and Average sale prices also jumped 15, and 12.4 percent respectively which is great for sellers and not so great for buyers. With interest rates back on the rise, buyers are jumping off the fence, actually free falling off the fence and into Palm Beach County which is driving prices higher then we have seen in a large number of years. Bidding wars are going on driving prices up and there are more cash buyers in the area then ever. With inventory nearing all time lows we are asking sellers why wait? Home sales are happening over 30 days quicker then they were last year, yes that right, over a month quicker then 1 year ago today and with homes being priced correctly sellers are getting 93.9% of ask as opposed to 90.9% of ask a year ago. The days of the Real Estate Market being scary are a thing of the past, if you are looking to buy, give us a call so we can catch you as you fall off the fence. If you have been waiting to sell, we have hundreds of buyers who we have already caught from there fall that have the money but just don’t have a home to buy. Either way give us a call and we will guide you every step of the way!


The Jackie Ellis Team






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