Condo Sales In Palm Beach Gardens Pick up……Slightly

Condo market not as strong as we would like

We seem stuck on news that favors the single family home market when direct comparisons with the condominium market are made. This morning we are happy to report that sales of condos in Palm Beach Gardens and the northern Palm Beach County region have improved over the past 30 days. But certainly not as strong of improvement that we would like to see.

Condo Sales

As of this morning, we have a total of 83 condominium sales in the region for the month ending March 15th. This is up 3 units, or 3.75%, from the 80 sales that we reported one month ago. Good news, yes. Great news, definitely no. Not when you consider where we were a year ago. Last year we reported sales over the same period exceeded 100 units. Not when you consider the 12 month average monthly sales volume sits at 103 units. Not when you consider the snowbird factor that usually gives us a nice boost this late into the season. Not when you consider that interest rates have been held back to levels that have single family home buyers reacting positively. Not when you consider the strength we have seen in pending homes sales. Not when you see the single home buyers actively boosting those numbers.

But here we are, an increase in sales but nothing to be really happy about. We still sit at the 3rd lowest monthly sales number we have seen in well over a year. Snowbirds will be heading north soon. Interest rates are up this week rather dramatically on the heels of the Fed’s Wednesday announcement. And locally condo sales seem stuck in the sand. The next three months should bring higher sales based on historical and seasonal factors so watch we will. Hopeful we will remain.

If the recovery has legs it is time for the condo market to stand up and show us more than what it has. If not we may have a long summer heading our way. Always interesting, always fun.

Fins up………

Tom Priester
Principal Broker

Paradise Sharks Real Estate
Direct Line 561 308-0175
tom@tompriester.com

http://www.paradisesharks.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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