The South Florida real estate market is still a "buyer's market;" however, there is more competition for the homes on the market.
CondoVultures, a consulting firm, reports the South Florida housing inventory is down 58% from Thanksgiving weekend in 2008.
Broward County has seen its inventory reduced by 64% and Miami-Dade is down 63%. Better news for those seeking homes in Palm Beach County, which saw only a 45% decline in housing inventory since 2008.
A reduced pace of foreclosures and an influx of foreign buyers are largely credited with the reduction in for-sale inventory of homes.
I am noticing this trend in the markets recently as I have been working with clients in: Boynton Beach, Boca Raton and Delray Beach. The circle of homes that I deem to be "gems" has slimmed down and my clients are focused on those that remain. I am advising clients to move quickly if they see something they want to own.
As a local Realtor, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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