Pending and contingent home sales data are very important metrics when determining how strong real estate sales will be in the months ahead. I like to carefully review this information for each of the communities where I am most active on at least a monthly basis as it gives me a heads up on what the future might bring for my clients. When a bilateral contract is entered into there are typically contingencies, historically mainly for home inspections and financing, but in today’s world many times they are short sales waiting for third party, or bank approval. Once these contingencies are lifted the change should be properly recorded into the MLS system as “pending”. History shows us that the large majority of pending listings will ultimately close, usually within the next two months. The volume of both contingent and pending listings is a good leading indicator of what we can expect in closed sales of Hobe Sound homes in the weeks ahead. Over the past 30 days in Hobe Sound we have experienced a slight increase in pending home sales with 28 on February 15th up from the 26 we had on January 15th. Most communities had much larger jumps but this increase makes it a clean sweep in the north Palm Beach and southern Martin County market; sales are showing strength across the board. These numbers point to a minor increase in closed transactions over the next 30 to 60 days in Hobe Sound. With the season upon us and incredible opportunities in every neighborhood we should be seeing continued increases in both pending listings and sales in the coming months . A professional real estate agent watches the market trends very closely as the data is very important to our clients, whether they are buying or selling, to paint a picture of where the market may be heading. If you would like any additional information on a specific home, neighborhood, or community please feel free to contact me. I am easily reached at 561 308-0175 or via e-mail at tom@tompriester.com and would be happy to be of assistance. After just one call you will know why "Results Driven Real Estate" is your top choice for professional real estate services in Hobe Sound and the surrounding areas. Always at Your Service, Tom Priester e-PRO "Results Driven Real Estate" Keller Williams Realty 561 308-0175
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