The latest Case-Shiller Home Price Index once again reported rising home prices in Palm Beach, Broward & Miami-Dade counties. For the month ended February 28, 2015, the Index found that the region's overall median prices (excluding condominiums) increased 9.2% compared to the same period one year ago. Only the Denver & San Francisco Metro areas reported higher gains for the same period.
A closer look at the South Florida increase reveals that the median price in Broward county has continued to rise per the Greater Fort Lauderdale Realtors Association while the median in Palm Beach county has flattened or fallen, per the Realtors' Association of the Palm Beaches. Still, both counties had strong sales in the month ended March 31, 2015, with Broward & Palm Beach sales up 16% & 38%, respectively.
This comes as no surprise to local professionals working with Buyers. Priced right, listings sell very quickly. To succeed, Buyers have to be decisive & submit their "Highest & Best" offer the first time rather than expect Sellers to negotiate.
Contact me with any questions about Selling or Buying in South Florida.
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