January real estate roundup for the Northern Palm Beaches

The months roll on by and as we hit February 1st it’s time to bring you accurate real estate numbers for the Northern Palm Beaches once again. Over the past month things have changed, as we now have one of the prime “seasonal” months under our belt. Pending home sales bring us good news today as the have finally changed course. After what became a 9 month free fall, for the first time since our April 1st report from last year, we can finally tell you that pending homes sales in Jupiter and the surrounding towns have moved higher.

PENDING FEB1

Over the past month pending home sales in the region have soared over 13%. Over just the past 2 weeks they are up over 5% so the growth slowed in the 2nd half of the month. We currently stand at about 91% of 2014 levels on this date so need higher numbers to keep pace with last year’s record breaking sales pace.

During January 2014 pending homes sales in Jupiter and the neighboring communities were up 14.9% so we did lag that performance by a full percentage point. Not bad, as once again, we are comparing these numbers to the highest volume sales year ever in history. But watch closely as last year in February pending home sales jumped almost 32% and I just do not see those numbers coming at us this year. Time will tell.

INVENTORY FEB1

Home inventory climbed again during January after staying relatively flat the prior month. Over the past 30 days the number of homes that buyer’s have to choose from has grown in the Jupiter area by over 12%. Keep in mind that all numbers are for the Northern Palm Beaches and each home is unique as are the metrics surrounding it’s value. For example, in Tequesta over the past two weeks inventory has not changed at all while in Juno Beach inventory levels are up 12.5% over the same period.

This month’s inventory increase brings us to the highest levels we have seen in 10 months. Compared to last year, buyers have 6% fewer choices but February 1, 2015 numbers were the highest we had seen since June of 2014. Last year over the next 7 month period inventory dropped lower and lower until the trend reversed on October 1st.

Buyers need to start buying in February to keep this market moving. Last year pending home sales jumped about 32% in the region over the month of February. If prices are going to continue to move higher we need solid growth in these numbers this year.

If Paradise Sharks can help you make wise real estate decisions please feel free to contact us at 561.308.0175 or info@paradisesharks.com

 

Fins up…..

 

#pendinghomesalesinjupiter

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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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