Welcome to the New Year of 2011. It should be an another amazing year for the local real estate markets and we look forward to bringing you the latest market statistics. Following the inventory levels is extremely important as it is the “supply” end of the equation that tells us where prices may be heading. As the supply of homes decreases and demand stays even we will see pricing increases. Tune in next week to see where prices have gone over the past year and you might be surprised.
The Hobe Sound Net Inventory Index decreased during December for the first time in four months, which is a most welcomed sign after the significant inventory increases we have seen since September 1st. The net inventory of real estate currently for sale on our local Multiple Listing Service (MLS) in Hobe Sound has ranged, over the past 12 months, from a low of 434 units on May 1, 2010 up to 514 units where we sat just 31 days ago. Net inventory now stands at 495, down 19 units from the December 1st level. Net inventory is defined as all of the property actively being marketed that does not have a contract outstanding either as a contingent or pending listing.
A decrease in inventory is typically negative news for buyer’s as it means fewer choices for those working with a professional Realtor in today’s market. With prices that have stabilized and still plenty of inventory it is a great time to be shopping for your new Hobe Sound home.
We take great pride here at “Results Driven Real Estate” in providing our clients the very highest level of service available in the industry. If we can be of assistance in any way with questions you may have about your real estate goals please feel free to contact me at your convenience for a complimentary consultation.
Always at Your Service,
Tom Priester e-PRO
“Results Driven Real Estate”
Keller Williams Realty