Home Sales in Palm Beach Gardens Slow During April

By
Real Estate Broker/Owner with Paradise Sharks BK3087579


April sales in region down 27% from year ago 


Things change. That is just a fact of life. Changes can be good. Changes can be bad. Changes can be no big deal. The real estate market here in northern Palm Beach County is changing. It certainly isn't for the good but we are still watching closely to see if it is bad or no big deal. As of this morning single family home sales for the month ended May 1st are down about 7% from the previous month. 




Last year at this time we were flying high with the most sales we had seen in one month in years. Those numbers continued through September and then things slowed dramatically. A month ago it looked like the market may be picking up steam but the tea kettle is no longer whistling. The water is cooling. Temporary pause? Maybe, but maybe not. 

A study just published analyzed cash sales which in some markets made up rather astonishing market shares during the first quarter. Fort Myers purchases during the January through March period that closed with cash were 73.6% of all sales. Miami weighed in at 67.1% and Sarasota came in at 65.1%. How did we do locally; Jupiter during the same period came in at 51.9%, Palm Beach Gardens 52.5%. Very strong numbers even with the large institutional investors pulling out as we discussed in our recent article "Blackstone Slams the Brakes on Local Real Estate Purchases".

Remember if you are contemplating any real estate transaction to do your research as there is so much poor quality information out there. Each individual parcel has it's own story and while we see fewer sales with prices holding their own in the overall market your neighborhood may have a totally different story. Always interesting, always fun.



Fins up.....



Tom Priester
Principal Broker

Paradise Sharks Real Estate

Direct Line 561 308-0175
tom@tompriester.com

www.paradisesharks.com

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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Tom - interesting information.  Does the end of our season have anything to do with it?

May 08, 2014 10:45 AM #1
Rainmaker
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Tom Priester
Paradise Sharks - Jupiter, FL
Paradise Sharks

Kathy,

No doubt seasonal factors have an impact on our market and April sales are typically boosted by our northern visitors. Keep in mind that April closed sales were typically put under contract some time between the middle of February and the end of March which is the height of our season. Overall not a bad month and we should see a few sales added to the totals as some do not get properly reported in the MLS in a timely manner. But not a strong sign of a surging market either. It's going to be another fun summer here in paradise!

Fins up............

May 08, 2014 08:59 PM #2
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Rainmaker
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Tom Priester

Paradise Sharks
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