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Good News For the Palm Beach County Real Estate Market – Mid-Year Recap

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As we study our statistics and continue to report the news as it’s happening, we have seen some pretty incredible activity happening lately. In fact, when you look at the number of homes available on the market last year versus this year at the same time, the change is almost unbelievable.

The number of available single-family homes on the market has decreased a very significant 58% this year as of June as compared to the same period in 2011. This huge dip in inventory has a direct impact on sellers and buyers alike.

For sellers, homes are selling faster and they are able to yield top dollar on the sale – for the first time in a long while enjoying a seller’s market. Lower inventory means that buyers are facing increasing competition when they go to get their dream homes.

Multiple offers have been coming in for most listings and in some cases these can be as many as 5 or even 10 offers per property. What does this mean for the seller? It means there is likely going to be a bidding war and the homeowner will be able to get at least asking price or even more in some cases. Buyers will need to be quick on the draw and move efficiently if they want to avoid getting into a bidding war that might end up in disappointment.

Whether you are a buyer, seller or investor – we know exactly how to get you to the closing table. Contact me today on my personal cell phone at 561.352.3056 so together we can help achieve your real estate dreams of living in beautiful Palm Beach County, Florida!