What the %&#$ Happened to Condominium Sales


Sales in North County drop 38% in one month

Wasn’t it just yesterday we published an article titled “Local Condo Prices Continue to Soar”? In fact, they were up to the highest levels we have seen in six years and heading towards a 3rd straight year of triple digit gains. Something that has never happened in the northern Palm Beach County region. Ever. We told you all that was needed was a decent summer with buyers writing contracts. We told you things would chill a bit. But %$.

CONDO SALES DROP

Last month at this time we reported buyers came through with more condo sales in the region than we had seen since May of last year. Big numbers. We thought they would slow this month; maybe 15%. But the numbers are in and we did far worse with 38% fewer sales as of the June 15th data. The slowest sales month since February and 5th slowest over the past 12 month period. The 30 day numbers were just about 9% below our moving 12 month average.

As we kick off what is historically 3 of the slowest months for condo sales in the area we were hoping to bring you better news this morning. But we just don’t have it. Devastating news? Hardly. The market has been showing too much strength but certainly something we need to keep our eyes on. We have been telling everyone who will listen that if you are contemplating a home in paradise that this summer may be the best buying opportunity you will have in the near future. Take advantage of news like this as it can play into your hand. But keep watching as markets can turn quickly. We just don’t think this is anything more than a head fake at this point.

Keep watching………….

Tom Priester
Principal Broker

Paradise Sharks Real Estate
561.308.0175
tom@paradisesharks.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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