No homes for sale in the Island at Abacoa; none, zippo, nada, zilch, zero!
Here is a picture of our middle baby, Kiwi, as she looked over a number of homes for sale in the Island at Abacoa back in 2008. If she was looking today she would see that things have changed, man oh man have they changed.
We are still a few days away from me finding the time to complete my 2011 market wrap and look forward to what should be another great year for south Florida real estate. Working on the numbers I knew that last year was good but going through these exercises show me that it really was better than I thought. Today I had a call from a client who was interested in finding a home in the Island at Abaocoa and was shocked when I told them there just weren’t any available. What? No homes available are you kidding me I thought we were in a housing crisis?
People just do not believe me, no matter how loud I scream, that finding a single family home that is well priced and in good condition is tough, really tough. But NO inventory in one of Jupiter’s favorite neighborhoods can price increases be here? Looking at the metrics in the Island they already are. Here are the sales numbers and median prices for the past seven years for single family homes in the Island at Abacoa;
2011 Six homes sold with a median price of $455,000
2010 Seven homes sold with a median price of $399,000
2009 Nine homes sold with a median sales price of $515,000
2008 Seven homes sold with a median sales price of $585,000
2007 Ten homes sold with a median sales price of $537,500
2006 Two home sold with a median sales price of $682,500
2005 Six homes sold with a median sales price of $609,500
And it isn’t just the Island at Abacoa I can show you the same dramatic numbers all over the place. What do you think is going to happen when a new home is listed at a good price in good condition in the Island at Abacoa? Multiple offers, quick sale that is what. Buyers are still price motivated and properties still need to appraise when loans are involved but the facts are what they are. Sales strong, prices up, inventory low or in this case non-existent.
But what about the dreaded “shadow inventory” man just wait till that hits the market things are going to get bad, really bad. There are a couple pre-foreclosures still hanging out there in the Island at Abacoa oh my. We need three times that number just to provide the inventory to match sales from last year.
The facts are south Florida real estate is doing quite well no matter what you might read in the paper or hear on the news. There are good reasons why I just don’t allow the Palm Beach Post to be dropped on my doorstep or the news showing up on my TV. It just isn’t relative.
You will find it very easy to reach me at 561 308-0175 or via e-mail at email@example.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.
Tom Priester e-PRO
“Results Driven Real Estate”
Keller Williams Realty