Last month at this time I was so pleased to report how every one of my main market areas in north Palm Beach County reported increases in pending home sales which shows a local real estate market that continues to recover quite nicely. I was excited to get back to the data this month and see what has transpired since then but based on the activity I am seeing things continue to get better and better. It really is very difficult to find good properties in many locations in certain price ranges. Pending and contingent home sales data are very important metrics when determining how strong real estate sales will be in the months ahead. I like to carefully review this information for each of the communities where I am most active on at least a monthly basis as it gives me a heads up on what the future might bring for my clients.
When a bilateral contract is entered into there are typically contingencies, historically mainly for home inspections and financing, but in today’s world many times they are short sales waiting for third party, or bank approval. Once these contingencies are lifted the change should be properly recorded into the MLS system as “pending”. History shows us that the large majority of pending listings will ultimately close, usually within the next two months. The volume of both contingent and pending listings is a good leading indicator of what we can expect in closed sales of Hobe Sound homes in the weeks ahead.
Over the past 30 days in Hobe Sound we have experienced an amazing (let’s make that stupendous!) increase in pending home sales with 52 on March 15th up from the 28 we had on February 15th. This is a HUGE increase and I am excited to get to the other reports but can tell you they will not be this amazing; sales in Hobe Sound have been on steroids! These numbers point to a major increase in closed transactions over the next 30 to 60 days in Hobe Sound. With the season still upon us and incredible opportunities in every neighborhood we should be seeing continued increases in both pending listings and sales in the coming months .
A professional real estate agent watches the 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 email@example.com and would be happy to be of assistance. After just one call you will know why “Results Driven Real Estate” is your top choice for professional real estate services in Hobe Sound and the surrounding areas.
Always at Your Service,
Tom Priester e-PRO
“Results Driven Real Estate”
Keller Williams Realty