Home Sales in Palm Beach Gardens Slow During April


April sales in region down 27% from year ago

Things change. That is just a fact of life. Changes can be good. Changes can be bad. Changes can be no big deal. The real estate market here in northern Palm Beach County is changing. It certainly isn’t for the good but we are still watching closely to see if it is bad or no big deal. As of this morning single family home sales for the month ended May 1st are down about 7% from the previous month.

Home Sales

Last year at this time we were flying high with the most sales we had seen in one month in years. Those numbers continued through September and then things slowed dramatically. A month ago it looked like the market may be picking up steam but the tea kettle is no longer whistling. The water is cooling. Temporary pause? Maybe, but maybe not.

A study just published analyzed cash sales which in some markets made up rather astonishing market shares during the first quarter. Fort Myers purchases during the January through March period that closed with cash were 73.6% of all sales. Miami weighed in at 67.1% and Sarasota came in at 65.1%. How did we do locally; Jupiter during the same period came in at 51.9%, Palm Beach Gardens 52.5%. Very strong numbers even with the large institutional investors pulling out as we discussed in our recent article “Blackstone Slams the Brakes on Local Real Estate Purchases”.

Remember if you are contemplating any real estate transaction to do your research as there is so much poor quality information out there. Each individual parcel has it’s own story and while we see fewer sales with prices holding their own in the overall market your neighborhood may have a totally different story. 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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