Historically low interest rates and a reduction of inventory seems to be tempting buyers to move in the Palm Beach County of South Florida.
According to the Sun-Sentinel, there were about 7,000 single-family homes for sale in June 2012, which was about half of the inventory level in June 2011. The low interest rates on mortgages by historic levels and the reduction in inventory seems to be helping to give sellers some price leverage. Existing median home prices in Palm Beach County was $225,000 in June 2012, according to the Realtors Association of the Palm Beaches, which was 7% higher when compared with a year ago.
As I have posted about earlier, homes that are in relatively good condition and priced within the market range, will generally move quickly. I have had a recent situation where I was working with a buyer in an area that had ample inventory. Within a six month period most comparable homes have been purchased and the market for similar homes in the area are scant. My guess is when similar homes do come onto the market in that neighborhood, the interest level will be favorable for the sellers.
As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. 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 http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com
Referrals are appreciated and welcomed.
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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