What's Going on in the Market in Palm Beach County and Martin County?
Are You Tired of All the Doom and Gloom News?
When you turn on the TV or listen to the radio, you’re most likely greeted by the doom and gloom of the real estate market. Today I’m bringing you the market update for Palm Beach and Martin County so you have the information for yourself.
If you live in Palm Beach County, you are still in a seller’s market with inventory down 22.7%; which is great news. The days on market is down 48.2% or 44 days on market. Even though the market has had changes, it’s completely normal for the market to slowdown in September. Martin County is starting to experience the same great news Palm Beach County has been experiencing for a while. We’re starting to see the days on market diminish 47.3% to only 49 days on market and prices increasing 21.9%. Also, inventory is down 9.3% in Martin County
How can you use this information to win? Historically, inventory starts to fall over the next few months. You may want to consider listing your home soon instead of waiting until January when everyone else decides to put their home on the market. Another piece of information you may not have heard or noticed is that the hedge funds are back after going “M.I.A.” for the last few months. Now they are back and making cash offers on our properties for $350,000 or less, which could account for the 23.5% increase in cash sales in Palm Beach County and 34% in Martin County, making it a great time to consider selling.
If you have any other questions about these statistics, feel free to call me at (561) 352-3056 as I’m always here for you. Talk to you soon!