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Hello Everyone and thank you for watching. This is Gia with Palm Beach Premier Real Estate here in Boca Raton Florida with your 2-minute local market report for January 2018.

So here’s a quick take on the numbers that just came out from the Realtors Association of the Palm Beaches

The message this month from the association is:

 More Inventory For Buyers

So in taking a closer look at the numbers….In a nutshsell – What we’re seeing is the following:

1. FIRST – The SUPPLY of NEW Listings continue to increase and are Up 11% and Active Inventory is Up over 7% with approximately 16% of homes on the market selling each month and 1 out of 10 either expiring off the market or being cancelled….

2. SECOND – We are now over 5 months supply of Inventory for SFH’s and 5.6 months for Townhouses & Condos

3. THIRD… Closed sales were down sharply in October with SFH sales down 9% and Townhouses/Condos down a whopping 16% versus the corresponding period last year. Once again the number of closed sales continues to decline

4. FOURTH – The numbers here in Palm Beach County continue to indicate a market in transition….Sellers are getting a median of 94.8% of their list price … with homes going under contract in 50 days …..if priced correctly of course…..

5. FINALLY – Interest rates have increased with the Federal Reserve also indicating at least 2 more raises to come in 2017

 So….what we can clearly see from the January data is that 2 significant factors are taking place here:

1. More Inventory is coming to market

2. And second, prices are likely to trend to downwards 

So….while home sellers have been in a somewhat favorable position, the marketplace is clearly changing….and a softening of prices is eventually going to occur if these trends continue…….. And of course….as we have been mentioning for several months now….. Prices do represent a lagging indicator. Higher priced homes are already experiencing this.

Anticipate a continuing transition ahead to a buyers market

Going forward we will definitely be keeping a continued close watch on prices, inventory levels and the number of closed sales.

If you’ve been considering taking advantage of the strength in the marketplace – now is a great time to sell … 

Please give us a call for a confidential consultation at 561.395.8418 or email us at Info@PBPrealestate.com - we’re here to help! 

Finally, On behalf of everyone here on the Palm Beach Premier Real Estate Team, we would like to take this opportunity to express our thanks to you and wish you all a happy holiday season and a healthy and propsperous 2018. 

As always we look forward to speaking with you. Thank you for watching. We’ll see you next time.

Active Properties
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
5665 N Haverhill Rd 3 2 1,215 $229,000 $188 0 days
5910 NW 2nd Avenue 4 4 4,410 $895,000 $202 0 days
451 Surfside Lane 4 5 3,025 $1,850,000 $611 0 days
3430 Florence Street 3 2 1,690 $449,000 $265 0 days
281 Camellia Street 3 2 1,398 $299,000 $213 0 days
3115 S Ocean Boulevard Unit #402 3 3 1,852 $695,000 $375 0 days
5807 Dewberry Way 3 3 1,592 $243,000 $152 0 days
7601 Lexington Club Blvd Unit A 3 2 1,657 $235,000 $141 0 days
16031 E Mayfair Drive 2 2 1,064 $260,000 $244 0 days
5747 Northpointe Lane 4 3 2,186 $319,900 $146 0 days
6805 Willow Wood Drive Unit #5034 2 2 1,255 $54,000 $43 0 days
6347 La Costa Drive Unit #D 2 2 978 $189,000 $193 0 days
15419 118th Trail N 3 2 1,620 $396,900 $245 0 days
9087 E Highland Pines Boulevard 2 2 1,258 $225,000 $178 0 days
3592 Crab Apple Trail Unit #B 2 2 1,123 $185,000 $164 0 days
15469 Lakes Of Delray Boulevard Unit #104 2 2 1,000 $139,900 $139 0 days
7770 Tahiti Lane Unit #403 2 2 1,200 $94,500 $78 0 days
5112 Lake Catalina Drive Unit #D 3 3 2,374 $249,000 $104 0 days
3810 N Jog Road Unit #106 3 2 1,196 $151,500 $126 0 days
220 Gregory Place 4 3 1,755 $399,000 $227 0 days
3150 San Michele Drive 5 5 4,530 $1,179,000 $260 0 days
8268 Calabria Lakes Drive 4 3 2,334 $469,900 $201 0 days
1030 Crystal Way Drive Unit 8F 3 3 N/A $340,000 Unknown 0 days
2901 S Ocean Boulevard Unit #703 2 3 2,204 $799,000 $362 0 days
7073 Chesapeake Circle 4 2 1,470 $289,900 $197 0 days
1485 Via Del Sol 2 2 1,211 $495,000 $408 0 days
1208 Marine Way Unit #204 1 1 954 $209,000 $219 0 days
1021 Coralina Lane 3 3 2,458 $1,395,000 $567 0 days
516 E Tall Oaks Drive 3 2 2,024 $549,000 $271 0 days
13646 Whippet Way 2 2 1,527 $199,900 $130 0 days
751 Oriole Circle 5 8 13,770 $6,995,000 $507 0 days
223 Waterford J Unit #2230 1 2 786 $100,000 $127 0 days
19826 Wilkinson Leas Road 4 4 4,456 $1,949,000 $437 0 days
4348 Emerald Vista 3 3 1,523 $233,000 $152 0 days
108 SW 12th Avenue 2 1 1,215 $249,900 $205 0 days
800 E Camino Real Unit 4020 2 2 1,300 $210,000 $161 0 days
310 Crestwood Circle Unit #208 3 2 1,260 $189,900 $150 0 days
5046 Rosen Boulevard 4 2 2,023 $344,900 $170 0 days
5854 Rambler Rose Way 3 3 1,404 $239,000 $170 0 days
116 Bent Arrow Drive Unit #B 2 2 1,224 $225,000 $183 0 days
5414 Venetia Court Unit #B 3 2 1,282 $159,900 $124 0 days
1601 12th Avenue S 4 1 1,197 $199,990 $167 0 days
1125 SW 19th Street 3 2 1,294 $399,900 $309 3 days
237 Cardinal Lane 2 2 980 $128,800 $131 0 days
4766 Quailwood Ter Unit Apt-A 2 2 N/A $195,000 Unknown 0 days
1299 S Ocean Boulevard Unit #L5 2 2 1,559 $425,000 $272 0 days
460 Normandy Lane Unit #J 2 2 907 $72,000 $79 0 days
1511 Ocean Dunes Circle 2 3 1,535 $450,000 $293 0 days
300 E Royal Palm Road Unit #10a 2 2 1,360 $475,000 $349 0 days
4438 Regal Court 3 3 1,748 $299,999 $171 0 days
Average: 3.0 3.0 2,628 $1,039,190 $345 131 days
Viewing 1 - 50 of 12955
Viewing 1 - 50 of 12955
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
1230 S Lakeside Drive 4 3 2,378 $1,500,000 $630 0 days
12184 Country Greens Boulevard 3 2 1,422 $269,900 $189 1 day
8042 Stirrup Cay 4 2 1,543 $325,000 $210 2 days
51 Normandy B 2 2 907 $127,500 $140 2 days
17766 Heather Ridge Lane 4 4 3,140 $289,000 $92 2 days
140 Monroe Drive 3 3 2,136 $1,175,000 $550 2 days
103 Kopsia Drive 5 4 3,358 $720,000 $214 2 days
850 W Camino Real 3 2 1,736 $495,000 $285 3 days
109 Conaskonk Circle 3 2 1,347 $214,900 $159 3 days
14560 Sunny Waters Lane 2 2 1,400 $235,000 $167 3 days
2140 Wells Place 3 3 2,138 $423,000 $197 3 days
2700 N Ocean Drive Unit #2101a 3 4 3,605 $2,900,000 $804 3 days
1663 NW 8th Street 3 2 1,202 $319,000 $265 3 days
8068 Montserrat Place 2 2 1,526 $339,900 $222 3 days
5149 Palazzo Place 3 2 2,067 $379,900 $183 3 days
1356 N Mangonia Drive 4 2 2,273 $245,000 $107 4 days
3 Glamis Way SE 3 3 1,824 $229,900 $126 4 days
7756 Terrace Road 4 3 1,990 $349,000 $175 4 days
113 Windward Drive 3 4 3,211 $539,900 $168 4 days
6634 Houlton Circle 3 3 2,582 $460,000 $178 4 days
101 Pinecrest Circle Unit #B 2 2 1,178 $235,000 $199 4 days
1241 Bimini Lane 3 2 2,062 $789,000 $382 4 days
4740 S Ocean Boulevard Unit #1514 2 2 2,050 $850,000 $414 4 days
3758 Satin Leaf Court 3 2 1,891 $399,000 $210 4 days
2609 NW 40th Street 4 3 2,768 $725,000 $261 4 days
8623 Wakefield Drive 3 2 1,577 $400,000 $253 4 days
3777 Providence Road 4 3 2,644 $366,900 $138 4 days
20650 Bay Brooke Court 4 3 2,440 $535,000 $219 5 days
14944 Wildflower Lane 3 2 1,229 $199,000 $161 5 days
22320 Overture Circle 3 2 1,459 $349,900 $239 5 days
6916 3rd Street 3 2 1,351 $267,000 $197 5 days
3425 Via Poinciana Unit #302 2 2 1,034 $82,000 $79 5 days
5250 NW 3rd Court Unit #C 1 2 1,040 $69,000 $66 5 days
4642 Silver Saw Lane 3 3 1,718 $285,000 $165 5 days
99 SE Mizner Boulevard Unit #431 3 2 1,500 $575,000 $383 5 days
12599 Crystal Pointe Drive Unit #B 2 2 1,569 $219,000 $139 5 days
170 Windsor H 1 2 738 $55,000 $74 6 days
3282 W Mallory Boulevard W 3 3 1,601 $389,000 $242 6 days
11334 Coral Key Drive 3 2 1,920 $410,000 $213 6 days
3791 Candlewood Court 3 3 1,802 $465,000 $258 6 days
1015 Siena Oaks Circle W 3 2 1,796 $405,000 $225 6 days
5301 NW 3rd Avenue Unit #301 2 2 1,300 $165,000 $126 6 days
2152 White Pine B Circle Unit #B 3 3 1,392 $184,999 $132 6 days
6049 Kings Gate Circle 3 2 1,500 $239,000 $159 7 days
5771 Fairway Park Court Unit #203 2 2 1,380 $139,900 $101 7 days
108 Twin Lakes Way 3 2 2,144 $385,000 $179 7 days
2784 S Ocean Boulevard Unit #403-N 2 2 1,659 $859,000 $517 7 days
7 Plymouth A 2 2 1,108 $89,900 $81 7 days
1055 Florence Road 3 2 2,040 $263,000 $128 7 days
5570 S 35th Court 4 2 1,155 $269,000 $232 7 days
Average: 2.9 2.6 1,982 $556,352 $229 77 days
Viewing 1 - 50 of 4090
Viewing 1 - 50 of 4090
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
914 N M Street N/A N/A N/A $124,900 $115,000 Unknown 6 days 1/24/20
410 Evernia Street Unit #325 2 2 1,160 $315,000 $290,000 $250 6 days 1/24/20
3440 S Ocean Boulevard Unit #307n 2 2 1,458 $575,000 $535,000 $366 13 days 1/24/20
517 Revere Road 4 2 1,100 $265,000 $240,000 $218 19 days 1/24/20
14618 Temple Boulevard 3 2 1,996 $379,999 $370,000 $185 43 days 1/24/20
13170 69th Street N 4 4 2,445 $399,000 $393,000 $160 45 days 1/24/20
5811 Lonewood Court 3 2 1,646 $390,000 $372,000 $226 50 days 1/24/20
370 River Edge Road 3 2 1,889 $775,000 $740,000 $391 55 days 1/24/20
8423 Springlake Drive 2 2 1,654 $309,000 $300,000 $181 55 days 1/24/20
1100 Hickory Trail 3 2 1,954 $360,000 $360,000 $184 62 days 1/24/20
3730 N Ocean Drive Unit #16 B 4 5 3,642 $4,495,000 $4,200,000 $1,153 62 days 1/24/20
1027 Beech Road 4 2 1,284 $250,000 $240,000 $186 66 days 1/24/20
3512 Ensign Circle 3 2 1,666 $579,000 $545,000 $327 88 days 1/24/20
18999 Stewart Circle Unit #5 2 2 1,227 $174,999 $165,500 $134 84 days 1/24/20
3 Church Lane Unit #125 1 1 902 $625,000 $575,000 $637 85 days 1/24/20
5010 Whispering Hollow 4 4 3,007 $635,000 $620,000 $206 86 days 1/24/20
15359 Alexander Run 4 2 2,052 $489,000 $480,000 $233 86 days 1/24/20
12990 Anthorne Lane Unit #12990 4 3 1,872 $364,900 $352,000 $188 101 days 1/24/20
2121 N Ocean Boulevard Unit #1008e 2 2 1,078 $475,000 $440,000 $408 104 days 1/24/20
8051 Ambach Way 2 2 1,243 $130,000 $120,000 $96 111 days 1/24/20
2704 27th Court Unit #112-D 2 3 1,236 $269,500 $265,000 $214 112 days 1/24/20
830 NE 7th Avenue 3 4 2,353 $1,299,000 $1,299,000 $552 113 days 1/24/20
10841 Quail Covey Road Unit #Azalea 3 2 1,958 $189,000 $180,000 $91 125 days 1/24/20
4816 Filer Road 4 2 1,700 $289,000 $295,000 $173 128 days 1/24/20
616 Clearwater Park Road Unit #303 1 1 690 $130,000 $130,000 $188 185 days 1/24/20
7634 Majestic Palm Drive Unit #201 2 2 1,822 $185,000 $157,500 $86 221 days 1/24/20
728 Berkeley Street 6 7 4,801 $2,695,000 $2,600,000 $541 398 days 1/24/20
2700 N Ocean Drive Unit #Ph-1 B 3 4 3,032 $2,450,000 $2,200,000 $725 530 days 1/24/20
292 Fern Palm Road 6 8 6,625 $3,250,000 $2,800,000 $422 707 days 1/24/20
11348 Long Meadow Drive 6 8 4,968 $3,799,000 $3,799,000 $764 708 days 1/24/20
1430 S Lakeside Drive Unit #23 2 2 1,081 $199,900 $190,000 $175 25 days 1/23/20
534 Shady Pine Way Unit #A2 1 1 788 $105,000 $105,000 $133 42 days 1/23/20
21636 Juego Circle Unit #22f 2 2 1,216 $129,000 $122,500 $100 43 days 1/23/20
193 Dorchester I 1 2 738 $89,900 $70,000 $94 46 days 1/23/20
815 W Boynton Beach Boulevard Unit #11-107 2 2 1,104 $165,900 $165,000 $149 46 days 1/23/20
1329 S N Street 2 1 968 $200,000 $215,000 $222 49 days 1/23/20
2871 N Ocean Boulevard Unit #R144 2 2 958 $259,000 $225,000 $234 49 days 1/23/20
5230 Indianwood Village Lane 4 3 2,670 $469,000 $469,000 $175 54 days 1/23/20
8658 Dumford Lane 4 5 3,401 $626,325 $614,000 $180 50 days 1/23/20
1827 SW Congress Boulevard 2 2 1,224 $198,900 $195,000 $159 51 days 1/23/20
1404 Silverleaf Oak Court 2 2 1,152 $259,000 $255,000 $221 55 days 1/23/20
7629 Briar Cliff Circle 3 2 2,042 $345,000 $332,000 $162 60 days 1/23/20
4147 Mission Bell Drive 3 2 1,543 $189,500 $175,000 $113 61 days 1/23/20
18173 SE Fairview Circle 3 3 2,274 $375,000 $375,000 $164 62 days 1/23/20
5324 Crystal Anne Drive 2 2 1,519 $200,000 $185,000 $121 63 days 1/23/20
16967 Waterbend Drive Unit #143 2 2 1,452 $319,000 $292,500 $201 63 days 1/23/20
500 Davis Road Unit #34 1 1 712 $95,000 $92,500 $129 65 days 1/23/20
4953 Alder Drive Unit #C 2 2 900 $152,000 $149,000 $165 70 days 1/23/20
108 Lakeshore Drive Unit #1738 3 3 2,200 $639,900 $610,000 $277 70 days 1/23/20
Xx 74th Street N N/A N/A N/A $79,900 $77,000 Unknown 99 days 1/23/20
Average: 2.8 2.5 2,014 $462,803 $434,546 $229 116 days
Viewing 1 - 50 of 14557
Viewing 1 - 50 of 14557