Palm Beach County Shining Stars in 2013: How This Affects Your Property
Was your home one of the Palm Beach County shining stars in 2013?
Today I wanted to speak with you about the shining stars of real estate here in Palm Beach County. As we expected, the Palm Beach County close sales increased; 11% more people purchased a home in 2013 than in 2012! You know what else increased? Cash deals! Hearing this was great news; it was what we were expecting and hoping for in the last few months. Inventory numbers still remain in favor of the sellers.
So, who were the shining stars of real estate in 2013? First of all, Greenacres has the lowest amount of inventory in Palm Beach County. Greenacres has proven to be a very strong seller’s market with 3.4 months of inventory. Another city giving us great numbers is Royal Palm Beach with 3.6 months of inventory.
It is also worth noting that prices in Royal Palm Beach have risen 28.3%! For sellers, that is the difference of having equity and being under water. However, our best producing city in terms of appreciation was West Palm Beach City; they showed 31.4% year-over-year appreciation!
Most importantly, you want to know how your city did! I would be more than happy to share the statistics for your area and how it impacts you and the sale of your home. Give us a call at (561) 352-3056. We look forward to making your home the star of the show, too!
2013 Local Market Stats