paradiseshark

[paradiseshark]

November is here. Seasonal home buying typically returns in earnest in about 75 days. What will this season bring?

Right now, for anyone who is waiting for a big collapse in prices, none appears on the horizon, but that may change. Pending home sales at historic lows and inventory levels up 224% from year ago levels. But the million dollar buyer plays by different rules and they still are running this show.

Please enjoy this week's Paradise Sharks Real Estate makes update…..

[paradiseshark]

The local real estate market continues to transition. It's been six months since we looked into the details out in Palm Beach Country Estates. Over that time active listings have jumped over 40%. Days on market have jumped over 20%. Sales volume has dropped 12% and inventory has jumped 58%.

But prices have held up very well, season is coming and anything can happen….

[paradiseshark]

Prospective buyers of single-family homes in Abacoa have not had so many options for a long spell. Inventory is up 231% over the past 6 months. Lots  more options indeed.

This afternoon, the least expensive active listing of a single-family home in Abacoa is $667,500. Six months ago, it was $1,195,00. Not bad as sellers lose their stranglehold on the market.

Interest rates are crazy and continue to climb so that certainly offsets much of the good news. The average overnight rate on a 30 year conforming loan are now up 243% since last years lows.

Crazy market indeed. Paradise Sharks Real Estate has 40 years of experience and a passion to help you and save you money. Easy to reach for even a simple question so just let us know what we can do to help. tom@paradisesharks.com or 561.308.0175.

Stay informed and if you are thinking about doing anything real estate, ask questions, lots of them. An educated decision is almost always the best decision……

[paradiseshark]

So many people talking about the local real estate market. Fast talking, script slinging salesmen, looking to make a commission, snake oil salesmen telling you the sky is falling and a house of cards is fixin' to fall.\

And then there is Paradise Sharks Real Estate, who has been building or selling real estate for over 40 years, just trying to educate you, tell you the truth and help you not only save a lot of money, but to ensure you make informed decisions. It's what we do and we are very proud of that.

Please enjoy this weeks market update.......

[paradiseshark]

Median Jupiter single family home prices are now down 11%. Big deal? Hardly!

To find out why, please enjoy this weeks market update......

[paradiseshark]

You want to know what is going on with the local real estate market?

Just look at what has changed in 6 months out in Jupiter Farms;

Active listings up 306%.

Sales down 18.5%

Median list price down 21%

Yes indeed, the times they are a changin’, and in every way the buyer is in better position than he has been for a while.

Buyers rejoice……..

[paradiseshark]

The dog days of summer are here. For the real estate market, does that mean more sunny skies ahead? Or is a darker than night hurricane cloud, out there, lurking, just waiting to take over?

Time will tell, but last week’s nearly trillion dollar “stimulus” should have Wall Street happy for a while.

After that, who knows? But today you can catch up with all the local real estate market activity with today's Paradise Sharks Real Estate’s latest article…..

[paradiseshark]

It was a tough July for the single family home market in the Northern Palm Beaches. Median prices today sit at $900,000 down over 5% from recent record highs. Sales compared to last year were down a significant 34%.

We are seeing signs of future downward pressure on prices as we enter the dog days of summer. Watch the million-dollar market. Closely. Watch inflation; tomorrow the latest CPI numbers will be released. Watch interest rates. 

Watch the divide and hate engulfing the country.Watch and stay informed. The local real estate market keeps getting more and more intriguing…….

[paradiseshark]

Property owners in Palm Beach County will all soon be getting their 2022 property tax notices in the mailbox. Almost everyone can expect at least a 3% increase.

New residents, who have moved into the state with no carry over homestead exemption, might decide to sit down when opening theirs. This morning, the median single family home price in the Northern Palm Beaches sits at $900,000. Plug that number into the tax calculator on the Palm Beach County tax assessor website and the property tax bill this year should be $18,393. A mighty steep sum for someone if they were not educated in advance. And that's the median priced home!

Paradise Sharks Real Estate is pleased to bring you today's article and we have another planned to look into actually valuations once these notices arrive.

But don’t forget that huge 1.4% millage rate cut they have dangled in front of your face……..

[paradiseshark]

The current real estate market in the Bluffs Jupiter is bucking all the trends. Inventory hasn’t really climbed. Prices are soaring, with one recent sale at $4,325,000! In the Bluffs? Yes and it beat the old record by a mind numbing $2,325,000.

The time it takes to sell a home in the neighborhood has been slashed in half over the past 6 months. Median prices so far this year are up 28%.

So, while we are seeing some softening in the overall market, there has been none so far in the Bluffs. Its all about location, location, location and the strength still showing in this preferred Jupiter oceanside community is something to see.

Please enjoy this neighborhood update brought to you by Paradise Sharks Real Estate; home of the 3.5% total commission on almost any home in the Northern Palm Beaches.

[paradiseshark]

Sweet indeed!

Pending home sales in the Northern Palm Beaches unexpectedly jumped over the past 2 weeks. Last year over the same period they were down 5.5%. Above the million-dollar threshold, pending home sales are 11% higher than a year ago.

Reason to celebrate? Maybe not. To get the story, the whole story, and nothing but the truth please enjoy today’s Paradise Sharks Real Estate first of August market update.

Fins up……

[paradiseshark]

It’s been six months since we looked at the market statistics in the Tequesta Country Club area. Sure, inventory levels are down since January. Sure, one home currently on the market is priced $4,500,000 above any sale we have ever seen in in the community through the real estate community.

But, other than that, we are starting to sense change. Median sales prices per square foot over the past 6 months are down 3%. The time it has taken homes to sell has jumped 45%.

While inventory levels are down in the Tequesta Country Club area we are seeing a dramatic change in the larger market areas. In the Village of Tequesta single family home inventory levels have jumped 229% since January. In Palm Beach County 290%.

It's going to be a very interesting summer and fall for real estate in the Northern Palm Beaches. Please enjoy today’s market update from Paradise Sharks Real Estate and watch for our weekly updates for the most accurate and up to the minute information on the local real estate market.

Fins up……

[paradiseshark]

If you are making the decision to list your home, please make sure you find out how any real estate broker is going to update you. Interview and ask questions. Paradise Sharks Real Estate provides our client’s a very detailed, weekly market update to make sure they are not only educated, but making informed decisions.

Today’s market is changing so fast and sellers better be on top of it all. The listing we describe in this article was on the market for a total of 37 days. Out clients received 4 market updates. In this neighborhood, during that 37 day period, the number of active listings soared 71%. The number of homes under contract plummeted 27%. Our listing was frame construction, yet we ended up with a bidding war with two cash buyers and sold the home above list price. Why? Because of our market updates and clients who listened and reacted.

If we hadn’t been providing our client's weekly updates, it never would have happened. But we did and it was a successful transaction for our client’s. Heck, we only charged them a total commission of 3.5%.

Enjoy this week's update and if Paradise Sharks Real Estate can ever be of service in any way, please let us know.

[paradiseshark]

The percentage of Jupiter single family home sellers who paid a 3% buyer’s broker commission for sales that closed during the month of June soared a rather significant 45% compared to May. Market share for commissions at that level have not been higher in 10 months.

Why? It’s a good question, but the Jupiter real estate market is showing significant signs of change that we explain in today’s market update.

If Paradise Sharks Real Estate can ever be of help in any way, we would be honored to speak with you. In the end, our goal is that you make informed real estate decisions......

[paradiseshark]

Median single family home prices in the Northern Palm Beaches just dropped to $925,000 from $950,000. 

In the Jupiter single family home market, over the first half of July, days on market for active listings has jumped an eye popping 23%. Inventory is up another 12%. The number of sellers lowering their list price has jumped 30%. List price per square foot is down 6%. And that’s all in just 2 weeks!

But the scariest number to me, the one that makes anyone who makes their living selling real estate feel like they just took a hellacious punch to the gut, is the number of homes currently under contract in the Northern Palm Beaches. It’s the lowest we have seen in 18 months. And it’s bound to get worse.

Front row seats baby and we truly hope you learn something from this week’s market update from Paradise Sharks Real Estate. In this market, you don’t want to get sold, you want to be educated and that’s something we take great price in providing. Education.

Enjoy……

[paradiseshark]

Oh sure, home inventory levels in the Jupiter area are an amazing 255% of what they were when we started the year. Buyers have lots and lots of choices.

But, buyers aren’t really buying. Homes under contract, as of this morning, in the Northern Palm Beaches are at the lowest levels we have seen since January. The odds are significant that they are going to fall further in the months ahead. By the time winter rolls around, the number of homes under contract may be at all time record lows.

Interesting days for sure but one thing is certain. So far, median single family home prices in the Jupiter area remain at record highs. This morning that median price is $950,000.Crazy? Maybe, but maybe not. Please enjoy this week’s market update….