Juno Beach Inventory Level Drops for 7th Straight Month

Juno Beach Inventory Level Decreases 6% in July

August is going to be an interesting month. With the local housing scene continuing to show strength and the national economy still struggling one thinks a convergence is on the way. How long can housing continue on it’s merry way without a substantial change in the economic fundamentals? Interest rates continue to drop and this week the United States Treasury dropped hints about negative yield bonds which we have brought up before in this column.

Home sales on a national level for both new and resale properties fell in June while we reported here strong local increases in 4 of our 5 municipalities. And we are talking substantial gains with an average increase of 23.4% over May numbers. We keep searching for a change in fortune but as of now we appear to be bucking every trend out there and the market is full steam ahead with strong sales, shrinking inventory and higher prices. August is going to be an interesting month.

There is no way this rebound is going to be a straight line up with big price moves unless the economy picks and at this point it appears anemic at best. Add in the fact that there are so many homeowners who are still underwater on their mortgages which is just one reason inventories have continued to decline. The fact is there are many, many people who would love to sell their home but are unable to because of the check they would need to bring to the closing table. So after 4 straight months of inventory declines let’s see where things stand as of August 1st in the northern Palm Beach County region.

This report shows our home inventory “power rankings” for the month ending July 31st. These rankings are set up so the 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 July;

#1 Juno Beach – down 6%
#2 Tequesta – down 4%
#3 Jupiter – down 3%
#3 Palm Beach Gardens – down 3%
#5 Hobe Sound – up 1%

This report is another feather in the real estate market get stronger cap. During July in northern Palm Beach County the average inventory level dropped another 3% adding more upside pricing pressure. This month we next move to Tequesta in the top position reporting in with their 7th straight monthly decline. As of August 1st total inventory sits at 91 units down 6 from the 97 available on July 1st. With these levels we also find ourselves down 18% from the 12 month average that sits at 111 and a very strong reduction of 16% from the 106 level we stood at one year ago.

August is going to be an interesting month…………..

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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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