Housing Inventory in Hobe Sound Increases for the 1st Time in 3 Months

Hobe Sound Housing Inventory Levels Remain Near Recent Lows

Happy New Year. January 1st has finally arrived and with it the anticipation of another year and what to expect in the south Florida real estate market. Looking back there is no doubt that we made great strides during 2011 in returning to somewhat normal conditions. In about a week we will be putting together our year end review and I think everyone will be happy to see how strong our foundation is compared to a year ago.

One metric that we closely watch and bring to you on a monthly basis is the changes to the inventory of homes available for sale in the various markets of north Palm Beach and southern Martin County. If anyone was watching in 2005 they would have seen how inventory continued to increase throughout the year and it was when the market could no longer absorb that inventory that the cracks started to appear.

On the converse side of this equation, much as we saw in 2005 how a rise in inventory signaled trouble ahead we need to keep a close eye while we see inventory contracting as it too will give us the signal of prices getting ready to head higher. Lower inventory and stronger sales is a winning combination. Supply and demand will always tell us where the market is moving.

This report shows our home inventory “power rankings” for the month ending January 1st. We are going to switch things up in the way we rank inventory and as of this month’s report will go along with the overall market and our top rated municipality will be the one who shows the highest reduction in inventory levels. Since it is these reductions, when coupled with stronger sales, which will move prices higher we want to rank those accordingly. So here are the inventory power rankings are the rankings for the month of December;

#1 Tequesta
#2 Jupiter
#3 Palm Beach Gardens
#4 Hobe Sound – UP 3.7%
#5 Juno Beach – UP 4%

Overall inventory levels around the area went slightly lower with a median decrease in inventory of 1% over the past thirty days which is a bullish sign for the market and a great way to start off the year. We next move in this months report with our 4th place finisher of Hobe Sound who showed an increase in inventory of 3.7% over the past 30 days. As of January 1st we have 363 active listings compared to 350 on December 1st and we are now about 29% below our 12 month high back on February 1st. We are also well below the 495 units we had in inventory one year ago. Even with this increase, which was the 1st in three months we still are near our multi-year lows which remains a very positive sign in Hobe Sound.

You will find it very easy to reach me at 561 308-0175 or via e-mail at tom@tompriester.com if there is anything that I can do to assist you with real estate questions that you may have. We are committed to bringing only the highest level of service to you, your family, friends and colleagues so if we can be of service in any way please do not hesitate to contact us at your convenience.

Cheers,

Tom Priester e-PRO
“Results Driven Real Estate”

Keller Williams Realty
561 308-0175
tom@tompriester.com

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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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