We keep hearing how the Real Estate Market is improving. Well, that depends on where. Each City, Each County and Each State have different statistics. Some of the statistics are good and some, not so good.
This Blog post will concentrate on Palm Beach County, Florida with information provided by Trendgraphics, Inc. Being a Florida realtor, I know that the market has improved. It’s improved for several reasons one of which is low interest rates. Other reasons include that there are now less homes in inventory coupled with increased home sales. That’s a combination that generates homes selling faster and for more money. Below is information showing this to be true.
Here are the statistics comparing:
Dec 2010 thru Nov 2011 to Dec 2011 thru Nov 2012
|121,234||HOMES FOR SALE
A decrease of 15,922 homes – Down 14.25%
An increase of 941 homes – Up 7.4%
|$332,000||AVERAGE SALE PRICE
An increase of $12,000 – Up 3.5%
The following trends have been shown over the past 2 years
- The number of homes for sale decreased in 19 of the past 24 months
- The Selling Price to List Price ratio went from 89.25% to 91%
- The Days on Market decreased by 3.9%
All seasons in Palm Beach County are active real estate seasons. A combination of buyers alternate throughout the year. They include: Families, Equestrians, Active Adults, Foreign Visitors, Snowbirds and Snowflakes. There’s always activity for home sales in Palm Beach County.
The charts below details the information gathered above month by month.