According to the Realtors Association of the Palm Beaches, the median sales price for existing homes in September 2012 was up 25% from a year earlier. The median price for a condominium was up 10% on a year-over-year basis in September 2012.
Sellers are holding out for their prices as the level of inventory continues to decline. There were 6,605 single family homes on the market at the end of September 2012, which was nearly half the number as a a year ago. Condominiums on the market were down about 40% during the same time.
Affordability of homes, low mortgage rates and decreasing options has helped drive home prices upward. If the lenders are able to properly manage the introduction new distressed property inventory, I suspect home prices will hold steady or could continue to rise. The presumption is that not much else changes in the current housing market.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a second home, investors, etc. 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
An Analytical Approach To Buying, Selling and Leasing Real Estate
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
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment