Tequesta Home Sales Remained Flat in January.
All the good news that comes out of the Tequesta market about shrinking inventories might just be having an effect on single family home sales, as it is the only local segment that I track to have sales so low over the past two months. In January sales were at the lowest end of the spectrum over the past year; in fact tied with December. During January our local MLS system shows a total of 5 successful closings as of this mornings’ update. That compares with 5 sales in December and the lowest totals we have experienced in 12 months.
With only 5 sales and the bulk of them (4) between $225,000 and $350,000 it is a bit disappointing to not have seen some additional activity in the luxury home market where inventories remain high. With the season in full force I am expecting to see much higher sales figures out of the Tequesta market in the coming weeks. The chart below shows the percentage of sales by price category for the month of January.
With a slow sales month following on the heels of our highest monthly median sales price over the past year we could expect a pullback. And yes we did get one as the monthly median sales price slipped to $346,000 from $650,000 in December and the lowest monthly total we have seen since September. Again with our northern friends in town I see better days ahead in this Tequesta category as well. The chart below shows median prices over the preceding 12 month period.
I watch these market trends very closely as the data is very important to our clients, whether they are buying or selling, to paint a picture of where the market may be heading. If you would like any additional information on a specific home, neighborhood, or community please feel free to contact me. I am easily reached at 561 308-0175 or via e-mail at firstname.lastname@example.org and would be happy to be of assistance with any of your real estate questions. After just one call you will know why “Results Driven Real Estate” is your top choice for professional real estate services in Tequesta and the surrounding areas.
Always at Your Service,
Tom Priester e-PRO
”Results Driven Real Estate”
Keller Williams Realty