After all the great news we passed your way last month about housing inventories continuing to drop across the market areas I service I could hardly wait to run the numbers when I finally got to the computer today. Last month at this time we reported that Palm Beach Gardens inventory levels had made the largest one month drop we had seen and sat at a new annual low which is a great sign of a market continuing to recover. So what has happened since then……..
Well, I started off this month’s report with the Tequesta market which had inventory levels remain steady and I thought I would let them bask in that glory overnight as the news is different in Palm Beach Gardens. Following directly on the heels of our largest monthly decrease in inventory we get hit with our largest monthly increase as more seller’s enter the market as we see continued improvement in conditions. The net inventory of real estate currently for sale on our local Multiple Listing Service (MLS) in Palm Beach Gardens now stands at 1,302 up 36 units from the January 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.
As we see inventory levels rise buyer’s have more choices and typically pricing pressure will be to the downside. Each home is different and has it’s own set of specific metrics that need to be explored when determining current market value. That being said, buyer’s have 36 more choices today than they did a month ago so it is a great time to take advantage of a great combination on inventory and interest rates.
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 throughout Palm Beach and Martin Counties 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