Pending Home Sales in Palm Beach Gardens Show Weakness


Pending Home Sales in Palm Beach Gardens of Concern

South Florida real estate seems to be starting the new year off on the right foot, interest rates sit today at another record low, single family home sales in the region were up strongly in my last article and everyone in the office seems to be in such a great mood. The upcoming weeks are full of important meetings in my life at Keller Williams with a regional Agent Leadership Council meeting coming up in Davie and our annual Family Reunion we are so lucky to be holding in Orlando this year. Excited to sit down and prepare my first pending home sale article of the new year and see how things are coming in the trenches.

Pending sales are the most accurate predictor of what transactions we can reasonably expect to close escrow in the coming 30 to 60 days. Each month we track 5 different municipalities and bring those numbers to you to keep you in touch with where the market is heading as this affects everyone who is, or contemplating, either selling or buying property.

In our December 15th update pending sales were somewhat split throughout the region with Hobe Sound and Jupiter showing very nice gains, both exceeding 20%, with Palm Beach Gardens, Tequesta and Juno Beach all showing double digit losses. These differences show just how regional real estate is and in fact different neighborhoods in different cities can have dramatically different metrics. The current shortage of inventory is making an impact on these numbers but we have seen inventory numbers improving which should improve the choices buyers have when shopping for that new home. Now let us take a look what has changed since our last report and here are the January Pending Sales “Power Rankings”;

#1 Hobe Sound –
#2 Juno Beach-
#2 Tequesta –
#4 Jupiter –
#5 Palm Beach Gardens- down 17%

This month 2 of our 5 communities had no changes in the pending sales levels while changes experienced in the other three municipalities were far less pronounced than last month so things seem to have stabilized a bit. This month our 5th place finisher is Palm Beach Gardens our only double digit mover with a significant 17% decrease in pending listings that stand at 93 which is 19 units below the 112 we had on December 15th. With this months level we fall 24% below the average we have seen for the previous 12 month period which sits at 123 per month. We also fall way below where we were at this time last year when we had 126 pending sales. This month’s fall is a little unexpected and we need to keep a close eye as we are at multi-year lows in Palm Beach Garden’s pending sales which I hope is a hiccup and not a leading indicator of what to expect in other communities.

As always, my goal when working with each of my clients, is to fully understand their unique, individual needs and design a program that will successfully ensure their goals are met. “Results Driven Real Estate” is a promise of the highest level of service in the industry and if you would like a complimentary consultation to discuss your particular situation in more detail please feel free to contact Tom at 561 308-1075 or via e-mail at tom@tompriester.com. We would be honored to be of assistance in any way that we can.

Always at Your Service,

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?

2 thoughts on “Pending Home Sales in Palm Beach Gardens Show Weakness

  1. I need to see some floor plans of newly built houses in Wellington palm beach area With their price range. 3 to 4 bedroom houses.

    1. Noushig,

      You will find new homes in Wellington starting around $300,000 and moving up from there. My understanding from our previous communication is your budget is $250,000 and below. Do you want to focus only on new homes and increase the price point? Please let me know what we should be focusing on and I can get you all the information that you require.

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