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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 DECEMBER 2017.

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

The message from your team here at Palm Beach Premier Real Estate this month is:

Palm Beach County is Still A Sellers Market

So let’s take a closer look at the internal real estate market numbers…. What we’re seeing is the following:

  1. The number of sales was 1,387, down 2 percent from a year ago
  2. The median price of single-family houses sold last month was $341,500. That was up 8 percent from a year ago but down from the June 2017 peak of $345,000
  3. The pace of sales was slightly down in December in Palm Beach County, with properties talking longer to secure a contract – up from 47 days to 55 days on market.
  4. Active single family home listings declined 4 percent so the supply of inventory dropped to 4.8 months with just under 7,000 active listings. Again anything under 6 months is considered a seller’s market.
  5. Interestingly the condo/townhouse market in Palm Beach, inventory levels and supply are more balanced at 6,327 active listings and 5.8 months supply respectively.
  6. Meanwhile, Palm Beach County’s market activity has been shifting to higher-priced homes. The number of sales of houses priced at less than $250,000 plunged by double digits from December 2016 to December 2017 — and the number of sales of houses priced at $400,000 or more jumped by double digits.
  7. Sales of houses in the $400,000 to $600,000 range jumped 19 percent over the past year. And sales volumes for mansions priced at more than $1 million soared 16 percent.

Of course some of these changes could simply reflect the reality that home prices are rising

So …as we continue to look for clear trends and market changes….here are some summary takeaways

  1. A continue shortage of single family home inventory continues to create upward pressure on prices
  2. Still behind on new construction adding further pressure on supply and prices.
  3. Still a seller’s market for homes
  4. Another trend that continues to play out is a growing economy, with improving job opportunities and a surging stock market both of which contribute significantly to consumer optimism

Finally, A quick note regarding the NEW federal tax package set to take effect in 2018 which will only make Florida more attractive…….. Changes incorporated into the bill will boost the standard deduction but limit the deductibility of state and local taxes to $10,000, reducing a valuable break for residents of high-tax states.

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!

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
3850 Circle Lake Drive 3 3 1,742 $285,000 $163 1 day
116 Kingswood F 1 1 615 $47,000 $76 0 days
2721 Garden Drive N Unit #202 2 1 894 $58,000 $64 4 days
404 Shoreview Drive 2 3 1,242 $159,000 $128 0 days
7209 Catania Drive 3 2 2,098 $375,000 $178 0 days
8530 Pine Cay 3 2 1,840 $370,000 $201 0 days
8541 Butler Greenwood Drive 4 5 4,243 $665,000 $156 0 days
5246 Ashley River Road 3 3 1,655 $219,000 $132 0 days
2900 NW 30th Street 4 2 2,205 $484,788 $219 0 days
1422 E Wickham Circle Unit #1422 3 3 1,658 $315,000 $189 0 days
2325 Fairway Drive 3 1 936 $225,000 $240 0 days
17696 118th Trail N 4 2 2,556 $449,900 $176 0 days
4772 Pineaire Lane 4 2 1,392 $290,000 $208 0 days
1126 11th Way 2 3 1,236 $169,500 $137 0 days
11091 Boca Woods Lane 2 3 2,457 $319,000 $129 0 days
8174 Ambach Way Unit #5-C 2 2 1,243 $150,000 $120 0 days
1466 W Bexley Park Drive 4 4 3,646 $515,000 $141 0 days
10239 N Circle Lake Drive Unit #101 3 2 1,469 $219,000 $149 0 days
224 Greenbrier Drive 2 2 1,035 $229,900 $222 0 days
4991 Sable Pine Circle Unit #C1 2 2 1,115 $133,000 $119 0 days
6745 Via Como 3 2 1,768 $394,500 $223 0 days
12365 86th Road N 3 2 1,523 $300,000 $196 0 days
429 NW 12th Avenue 3 2 964 $219,000 $227 0 days
623 Mango Drive N/A N/A 1,460 $209,900 $143 0 days
1885 Abbey Road 3 2 1,268 $210,000 $165 0 days
3722 Old Lighthouse Circle 4 2 1,805 $399,900 $221 0 days
434 NE Wavecrest Way Unit #B 3 4 2,909 $1,995,000 $685 0 days
24 Stratford Drive E Unit #D 2 2 1,388 $52,000 $37 0 days
2400 Presidential Way Unit #1004 3 2 1,499 $309,000 $206 0 days
15035 Michelangelo Blvd Unit 203 2 2 1,145 $197,000 $172 0 days
200 Coral Cay Terrace 4 3 2,214 $395,000 $178 0 days
3817 Heather Drive E 3 1 1,036 $174,900 $168 0 days
8666 Falcon Green Drive 3 3 2,477 $425,000 $171 0 days
3450 S Ocean Boulevard Unit #303 3 2 2,066 $549,999 $266 0 days
2461 Village Boulevard Unit #203 2 2 1,385 $145,000 $104 0 days
104 Saint Edward Place 3 4 4,126 $1,650,000 $399 0 days
6684 Eastpointe Pines Street 2 2 1,593 $355,000 $222 0 days
52 Stratford Lane Unit #C 2 2 1,388 $5,000 $3.60 0 days
124 Windsor F Unit 124 1 1 N/A $41,000 Unknown 0 days
11877 Fountainside Circle 3 3 2,419 $359,900 $148 0 days
16910 Bay Street Unit #E505 2 2 1,688 $539,000 $319 0 days
509 Oleander Lane 5 6 6,224 $5,295,000 $850 0 days
191 Tresana Boulevard Unit #157 3 3 2,665 $875,000 $328 0 days
6544 Otter Drive 5 6 4,481 $1,179,000 $263 0 days
231 Royal Court 3 2 1,534 $850,000 $554 0 days
7963 Rockford Road 3 2 1,872 $176,900 $94 0 days
5070 Windsor Parke Drive 3 2 1,771 $169,000 $95 0 days
1918 Ascott Road 4 2 1,992 $640,000 $321 0 days
1801 S Us Highway 1 Unit #11b 2 2 1,100 $329,900 $299 0 days
3608 N Shore Drive 4 3 2,580 $665,400 $257 0 days
Average: 3.0 3.0 2,564 $994,920 $307 135 days
Viewing 1 - 50 of 12029
Viewing 1 - 50 of 12029
Properties Under Contract
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
7498 Ridgefield Lane 5 3 3,120 $412,000 $132 0 days
5237 Windsor Parke Drive 3 2 1,771 $99,999 $56 0 days
255 Evernia Street Unit #907 1 1 790 $224,900 $284 0 days
917 S D Street 3 1 1,228 $185,000 $150 0 days
1160 Via Jardin 2 2 1,117 $240,000 $214 1 day
6412 Polo Pointe Way 4 5 3,483 $625,000 $179 2 days
501 Pinecrest Circle Unit #A 2 2 117 $199,000 $1,700 2 days
6586 Southurst Terrace Unit #208 2 2 1,103 $109,000 $98 2 days
21182 Shady Vista Lane 3 2 1,897 $429,900 $226 2 days
3501 Village Boulevard Unit #102 2 2 1,385 $138,500 $100 2 days
247 31st Street 2 1 462 $445,000 $963 3 days
5400 Spruce Avenue 2 2 1,171 $145,000 $123 3 days
2438 Bellarosa Circle 3 3 2,364 $449,900 $190 3 days
513 Talia Circle 3 3 1,543 $210,000 $136 3 days
10572 Royal Caribbean Circle 3 2 1,441 $259,900 $180 3 days
3459 Pebble Beach Drive 3 2 1,896 $360,000 $189 3 days
1606 SW 17th Terrace 2 2 1,428 $223,000 $156 3 days
4553 Bucida Road 3 3 2,209 $449,900 $203 3 days
1 Harbourside Drive Unit #2309 2 2 1,269 $475,000 $374 3 days
436 Driftwood Road 4 2 2,071 $329,000 $158 3 days
491 NW 14th Street 3 2 1,507 $407,400 $270 4 days
5282 2nd Road 3 2 1,099 $279,000 $253 4 days
9880 Majestic Way 3 2 1,867 $410,000 $219 4 days
1233 Via Maggio 4 4 1,880 $274,900 $146 4 days
4751 Via Palm Lakes Unit #413 2 2 1,120 $145,000 $129 4 days
1900 Palmland Drive Unit #3 3 2 1,080 $142,000 $131 4 days
6355 Brandon Street 3 3 2,617 $563,800 $215 4 days
5403 Glenda Street 2 2 1,160 $189,900 $163 4 days
123 Yacht Club Way Unit #307 1 1 917 $142,000 $154 4 days
161 Harbor Lake Circle 3 2 1,482 $272,500 $183 4 days
8490 Whispering Oak Way 3 4 3,073 $585,000 $190 5 days
711 Lori Drive Unit #403 1 1 696 $52,000 $74 5 days
9355 SW 8th Street Unit #305 2 2 1,000 $147,500 $147 5 days
1624 W Terrace Drive 2 2 1,604 $369,900 $230 5 days
100 SE 5th Avenue Unit #2 2 2 1,630 $1,225,000 $751 5 days
231 Newhaven Boulevard 3 3 1,812 $410,000 $226 5 days
5810 Churchill Court W 2 1 784 $234,500 $299 5 days
2445 SW 22nd Avenue Unit #202 2 2 985 $129,900 $131 5 days
8074 Severn Drive Unit #A 3 4 1,364 $249,900 $183 5 days
300 John F Kennedy Drive Unit #105 2 2 1,440 $169,000 $117 5 days
1074 Siena Oaks Circle E 4 3 2,086 $459,900 $220 5 days
19823 Hibiscus Drive 3 2 1,998 $439,900 $220 5 days
1415 W 35th Street 4 2 1,400 $187,000 $133 6 days
115 Midleton Way W 3 3 1,410 $319,900 $226 5 days
1145 Duncan Circle Unit #101 3 2 1,320 $225,000 $170 5 days
1433 W Drew Street 2 1 910 $230,000 $252 6 days
13 Amherst Court Unit #A 2 3 1,398 $204,900 $146 6 days
1401 Village Boulevard Unit #2026 1 1 731 $89,900 $122 6 days
1315 9th Court 3 1 1,040 $180,000 $173 6 days
13750 Oneida Drive Unit #D2 2 2 1,111 $159,900 $143 6 days
Average: 2.8 2.5 2,294 $495,262 $218 81 days
Viewing 1 - 50 of 4435
Viewing 1 - 50 of 4435
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
1023 N Florida Mango Road Unit #1027-7 N/A N/A 39,426 $15 $15 $0 17 days 10/14/19
1833 Abbey Road 3 2 1,288 $188,000 $188,000 $145 72 days 10/14/19
17031 Boca Club Boulevard Unit #106-A 2 3 2,004 $339,000 $310,000 $154 141 days 10/14/19
800 Palm Trail Unit #200b N/A N/A 7,968 $300 $600 $0.07 109 days 10/14/19
6705 Bulrush Court 4 2 1,994 $342,000 $342,000 $171 150 days 10/14/19
146 Lake Constance Drive Unit #146 2 2 1,031 $79,500 $74,000 $71 181 days 10/14/19
111 Bilboa Drive 4 3 3,074 $799,000 $750,000 $243 0 days 10/11/19
3126 Alice Drive 3 2 1,551 $145,000 $130,000 $83 17 days 10/11/19
12771 Ellison Wilson Road 3 2 1,797 $545,900 $530,000 $294 23 days 10/11/19
817 Sky Pine Way Unit #H 2 2 1,370 $155,000 $155,000 $113 24 days 10/11/19
21701 Altamira Avenue 2 2 1,096 $265,000 $265,000 $241 31 days 10/11/19
801 S Olive Avenue Unit #126 1 2 770 $235,000 $230,000 $298 31 days 10/11/19
9869 Summerbrook Terrace Unit #A 2 2 1,677 $229,900 $225,000 $134 34 days 10/11/19
107 Via Azurra 4 4 3,122 $628,500 $600,500 $192 34 days 10/11/19
8665 Boca Glades Boulevard W Unit #C 2 2 1,233 $215,000 $203,000 $164 37 days 10/11/19
5857 Sugar Palm Court Unit #B - 42 2 2 1,381 $115,000 $110,000 $79 39 days 10/11/19
16416 66th Court N 3 2 1,480 $299,900 $300,500 $203 44 days 10/11/19
10174 Plum Street 3 2 1,546 $319,500 $315,000 $203 44 days 10/11/19
904 20th Street N/A N/A 1,776 $285,000 $278,000 $156 45 days 10/11/19
704 36th Street 2 1 1,178 $96,030 $113,000 $95 50 days 10/11/19
5200 N Flagler Drive Unit #2504 2 2 1,250 $310,000 $250,000 $200 49 days 10/11/19
6101 Fairfield Circle Unit #13 3 2 1,293 $159,500 $145,500 $112 50 days 10/11/19
1324 NW 7th Street 3 2 1,504 $334,900 $330,000 $219 51 days 10/11/19
45 Baytree Circle 3 2 1,584 $320,000 $315,000 $198 52 days 10/11/19
113 Derby Lane 3 2 1,610 $334,900 $325,000 $201 52 days 10/11/19
6327 Seven Springs Boulevard Unit #D 2 2 1,368 $165,000 $172,000 $125 52 days 10/11/19
92 Seville F 2 2 883 $119,999 $105 $0.11 53 days 10/11/19
449 Goldenwood Way 3 2 1,578 $309,900 $298,000 $188 55 days 10/11/19
422 Windsor R 1 1 615 $44,900 $40,000 $65 55 days 10/11/19
2800 Fiore Way Unit #2050 2 2 1,023 $175,000 $148,000 $144 63 days 10/11/19
1116 11th Way 2 3 1,236 $175,000 $175,000 $141 66 days 10/11/19
251 Murray Court 3 3 1,623 $330,000 $310,000 $191 68 days 10/11/19
139 E Indian Crossing Circle 3 3 1,839 $312,900 $302,000 $164 68 days 10/11/19
4188 Coconut Road 4 4 1,787 $315,000 $320,000 $179 70 days 10/11/19
12252 Sag Harbor Court Unit #2 3 3 1,661 $280,000 $275,000 $165 70 days 10/11/19
9785 Kamena Circle 3 3 1,596 $225,000 $224,000 $140 70 days 10/11/19
6260 Willoughby Circle 3 2 1,371 $279,000 $279,000 $203 71 days 10/11/19
16702 81st Lane N 4 2 2,239 $384,000 $365,000 $163 74 days 10/11/19
871 NW 7th Street 3 2 1,618 $479,900 $470,000 $290 335 days 10/11/19
6906 Torch Key Street 3 3 1,637 $299,900 $302,000 $184 79 days 10/11/19
8099 Fire Opal Lane 4 3 2,305 $507,500 $495,000 $214 86 days 10/11/19
11295 Regatta Lane 5 3 3,399 $499,900 $460,000 $135 92 days 10/11/19
3799 NW 2nd Court 4 2 1,611 $439,000 $415,000 $257 94 days 10/11/19
100 Windsor Court 3 3 3,054 $549,000 $535,000 $175 97 days 10/11/19
840 Ocean Drive Unit #105 2 2 1,270 $579,000 $555,000 $437 110 days 10/11/19
5700 Camino Del Sol Unit #105 2 2 1,254 $175,000 $167,500 $133 115 days 10/11/19
248 Isle Verde Way 3 2 1,837 $449,900 $440,000 $239 113 days 10/11/19
8406 Staniel Cay 3 3 2,180 $329,000 $320,000 $146 119 days 10/11/19
12075 Rockwell Way 4 3 2,195 $409,000 $400,000 $182 121 days 10/11/19
9644 Sills Drive E Unit #101 2 2 1,626 $165,000 $147,000 $90 123 days 10/11/19
Average: 2.9 2.5 1,910 $478,694 $447,204 $482 116 days
Viewing 1 - 50 of 16862
Viewing 1 - 50 of 16862