Hobe Sound Single Family Home Sales Down Again in August

August Single Family Home Sales in Hobe Sound Drop Again

Another month rolls on, summer is now officially in the rear view mirror, as we start off the fall season looking back at sales during August in the north county area. This month we are going to start giving our “power rankings” of the different municipalities and will post the blogs starting with the lowest ranking and continuing through the star of the month. So here for our first ever power rankings are the results for August;

#1 North Palm Beach
#2 Tequesta
#3 Jupiter
#4 Palm Beach Gardens
#5 Juno Beach
#6 Hobe Sound

We start off this month’s report with the #6 ranking and Hobe Sound which was the only municipality that showed a decrease in August over the previous month. That being said they only were down one unit from the July numbers but are down about 20% from the 12 month average which stands at 20. As of this morning our MLS system shows a total of 16 successful closings in August which was only 1 fewer than the 17 sales in July and tied with the same number we had in August of 2010. It was the third decline in 4 weeks so the trend is not our friend at this time.

While sales levels were down they were also heavily weighted in the below $300,000 price category which weighed in with 75% of all sales. On the good news front we did see some strong closings in the $1,000,000+ category with 3 sales representing 19% of the market. The chart below shows the percentage of sales by price category for the month of August.

With many sales in the lower pricing segments we should expect weak median sales prices figures and that is what we got setting a brand new 12 month low. August numbers came in at $172,500 which is the lowest monthly number we have seen since we started tracking these numbers and still being held down by the foreclosure market. We were also solidly below the $285,750 median price we enjoyed in August of last year and the 12 month average of $251,138. We were very happy to report last week that foreclosure numbers were down for the 4th consecutive month which is the first step in getting prices to move higher. The chart below shows median prices on a monthly basis over the previous 12 month period.

We firmly believe that our job as professional Realtors® is to ensure our clients have all of the information required to make a fully informed decision when either buying or selling. If you, your family, friends or co-workers are currently planning on any real estate transaction please consider a free consultation with “Results Driven Real Estate”. Easily reached at 561 308-1075 or via e-mail at tom@tompriester.com we are here to assist in any way that we can.

Always at Your Service,

Tom Priester   e-PRO

“Results Driven Real Estate”

Keller Williams Realty

561 308-0175



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Tom Priester

After spending years among the top individual performers at one of Palm Beach County’s largest and most successful real estate brokerages, Tom Priester knew there was another way to do real estate. A better way. Real estate services focused on the customer. Like the old days when the customer truly was #1. He tired of listening to why he should be going out to have his customers sign one sided buyers’ brokerage agreements. He tired of hearing how he should be selling customers why paying higher commissions, like 7% and 8%, was to their benefit. He tired of hearing how he should sell his clients on why they should be paying hundreds of dollars in additional “transaction fees”. The business had slid way too far from being focused on the customer. His customer. So he decided the time was right to be different…..by design. To start his own unique boutique real estate firm truly focused on his customers. They will now have access to a process focused on them. Only the best marketing techniques to sell their homes. No cutting corners. Commission structures based on his clients needs not his. Paradise Sharks was born out of Tom’s passion to return this business to the customer. Where it belongs. If you want a real estate experience that benefits you, just give Tom a call at 561 308-0175 or send him an e-mail at tom@paradisesharks.com. You can always pay more and receive less but that just would not make any sense. Would it?

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