Hobe Sound single family sales remain solid as a rock.
After jumping 20% in February and 150% in March, Hobe Sound single family homes sales remained very solid during April. During the month our local MLS system shows a total of 30 successful closings as of this mornings’ update. That compares with 30 sales in March still at annual highs and a continuation of a market improving even though prices are still being held down by the foreclosure sales.
While the number of sales were very strong last month they remained intrenched in the lower price ranges with 70% of all sales below $300,000. But the good news is we saw some great strength in the $1,000,000 plus market with 4 sales representing a very strong 14% of the market. Sales between $300,000 and $1,000,000 were slow and I am hopeful that we see a pick up in these ranges over the coming months as we really need to start seeing some positive signs in inventory reductions. The chart below shows the percentage of sales by price category for the month of April.
With sales falling heavily into the two lowest price categories it is no surprise that the median price for the month also looked poor. In fact, it was up a bit to $204,000 in April which is a step in the right direction and up a bit from the $185,950 we were at last month. The chart below shows median prices on a monthly basis over the previous 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 Hobe Sound and the surrounding areas.
Always at Your Service,
Tom Priester e-PRO
”Results Driven Real Estate”
Keller Williams Realty