Plan Beach County Market 1st Quarter | Home Sales are Sizzling Hot.

The market has gotten off to a sizzling start in 2020. If you haven’t read our 2020 forecast, you can do so here https://www.echofineproperties.com/2020-real-estate-forecast-2020/ as it’s right on.

Closed sales of Single Family Homes (SFH) were up 15.1%. Townhomes/Condo Sales also up in double digits at 13.4%

Prices are up significantly as well. SFH rose 8.6% and TH/Condos jumped 12.5% from 208.

Inventory is moving faster, there is not as much room for negotiation and inventory especially in active SFH listings is down a whopping 16.3%.

Numbers are posted long after homes go under contract and we are seeing multiple bidding wars, meaning people lose homes they otherwise shouldn’t have.

Its critical for Buyers to be aware of what to do to ensure they don’t miss out on a home they want.

Read our top 5 tips for not losing out on a home in a seller’s market – don’t fall victim to “It wasn’t meant to be syndrome”.

Check out all Current South Florida Market Statistics Here! Find Days on Market, Closed Sales, Active Inventory, Median Sales Price, Mortgage Rates, and more for Palm Beach, Martin, St. Lucie, Broward, Indian River, and Miami-Dade!

Posted in Uncategorized on February 2, 2020 at 4:52 pm.

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Days on MarketDOM

35Days | 59%

Active InventoryAI

5,159 Homes | 50%

Median Sales PriceMSP

$644,500 | 7%

New ListingsNL

1,611 Homes | 13%

Closed SalesCS

1,174 Homes | 1%

Dollar VolumeDV

$1.3B | 30%

Months of InventoryMOI

4.5 Months | 55%

Pending SalesCS

1,124 Homes | -10%