It is remarkable how happy everyone is around the office these days. Keller Williams Realty in Jupiter continues to thrive and grow and everyone seems busy, busy, busy. Inventory levels, as reported here every month at this time, continue to drop which shows how well the local real estate market has been recovering. Sales remain strong and there is truly a shortage of quality homes in the below $400,000 price categories. Working with numerous clients trying to find a home is difficult and we are often faced with multiple offer situations. Local inventories are full of homes that have quality issues and many of these are hard to sell and therefore skew the numbers. So what has happened to inventory levels over the past month?
This month in Juno Beach inventory levels moved ever so slightly higher but remain very near the lowest levels we have seen over the preceding 12 month reporting period. The net inventory of real estate currently for sale on our local Multiple Listing Service (MLS) in Juno Beach now stands at 131 up 3 units from the April 1st level. It is interesting to note that Juno Beach was the only market area we watch closely to have an increase in inventory last month but since it was so slight and we are still near annual lows does not appear to be anything of concern. 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 increase buyers 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 3 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 which are still at remarkably low levels after hitting a new 21 week low this week.
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