Well, we did it. We survived Irma. Yes, we know it's hurricane seasons but not every year is death-defying. Okay, I'm exaggerating. Living in Florida is a dream and even though we are close to the coast, most years it's a tropical storm from time to time. But this year it was a little more exciting. We only got heavy rain and some wind and very little damage to our area unlike the Keys but it still is a little concerning for those that may not be used to it.
Don't worry. We are used to it and it's not as bad as the rest of the country makes it out to be. But all that being said, what about our real estate market - both now and before Irma hit? Will we see lingering impacts from this?
Summer is really not our strongest market. It's hot and most people choose to buy and tour open houses in the fall and winter. But, school doesn't follow the weather. If people have to move before school starts, the summer is the best time to do that. So all in all, we have a pretty active market year round for different reasons.
Things change rapidly around here. While much of the country is in a hot seller's market, we have cooled off a bit here; good news for buyers though! Let's take a look at a few of the major cities in Palm Beach County
Palm Beach Gardens:
Average home price is about $340,000.
Average days on the market is about 70
Number of properties for sale is 613
Median List Price is $539,000
Market is leaning in favor of buyers. More homes for sale, lower prices, better inventory.
Average home price is about $335,000
Average days on the market is about 55
Number of properties for sale is 566
Median list price is $547,000
Market is leaning in favor of sellers. Hotter market than surrounding areas, less inventory, fewer days on the market.
Average home prices is about $410,000
Average days on the market is about 80
Number of properties for sale is 58
Median list price is $600,000
Market is leaning in favor of buyers. Higher number of listings, lower prices. Prices have actually dropped in this area over the last 6 months. However, not a lot of newer developments. Older, more established developments are popular.
The surrounding communities of North Palm and Singer Island also are more geared toward buyers right now so it's a great time buy and if you're in Jupiter, it's also a great time to sell! As we get into a little cooler weather, buyers will be looking for homes that have withstood strong winds and storms. Homeowners are urged to have a pre-inspection to check the integrity of the home before listing - trust me, it could really pay off.
Wondering about the value of your Palm Beach County home? Give me a call. I'd love to help find the right home for you or help you sell quickly.