Tequesta Area Pending Home Sales Fall to 3 Month Low


First decline after 4 straight months of improved numbers

As we say goodbye to May and hello to June we are facing the summer months in south Florida head on. While we are still 19 days away from the “official” start all the signs of summer are here. Memorial Day has past. Our winter visitors have moved north. Humidity is returning to the air. The beach has more elbow room. The real estate market starts to show signs of slowing down a bit.

Pending

While we have seen solid price increases so far in 2014 sales have not been nearly as robust as last year. In fact, pending home sales in the first quarter were down just about 20% from 2013 levels. We now have 2 months of the second quarter in the books and things have improved but we are still about 15% behind last years’ numbers. We had 9 straight months of declining pending home sales between April 1, 2013 and January 1, 2014. Since January we had seen higher numbers for 4 straight months. Things were looking up. Until today.

Pending home sales in the northern Palm Beach County region fell 3.5% over the last month to the lowest levels we have seen since March 1st. We trail year ago numbers by 16%. As we reported yesterday, inventory levels in the area fell to the lowest levels we have seen in over 6 months. Buyers have fewer choices and if demand stays constant over the summer months prices should continue to climb. The question is as we countdown to the official start of summer is how hot will demand remain over the next few months. Time will tell. Always interesting always fun.

Fins up…….

Tom Priester
Principal Broker

Paradise Sharks Real Estate
Direct Line 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?

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