October 2019 Real Estate Market Statistics for South Palm Beach County

Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for October 2019. Read on to learn more about the real estate market in South Palm Beach County:

Economic Indicators

In October, mortgage rates increased slightly from the three-year lows seen in September. While the Federal Reserve reduced the federal-funds target rate by .25%, this decline was widely expected and largely factored into mortgage rates already, which are still approximately 1% lower than this time last year. Fannie Mae is predicting that continued low rates, and possibly lower rates are expected in 2020.

Local Market Overview

As in previous months, the year over year…

665 Views, 0 Comments

Magnificent Wyndsong Isle Estates Pool Home for Sale in Boynton Beach

Just Listed: 10259 Isle Wynd Court, Boynton Beach, FL 33437

Just Listed by Trudi Sponder for Boca Expert Realty! Magnificent 4 Bed. 4 ½ Bath Pool home in a small gated community for all ages in Boynton Beach.

The first floor features a very spacious Master Suite with his and her closets, Dual sink vanity oversized tub and separate shower. In the kitchen, you find ample beautiful cabinetry, tumbled tile backsplash and granite counters. Gas equipped dual ovens, gas stove cooking top, 2 separate dishwashers, dual stainless sink, microwave, a center island with an additional sink. The breakfast area, family room, and master bedroom all overlook the backyard oasis with designer pool and lush landscaping for your privacy. The family room, living room,…

998 Views, 0 Comments

Sold! 3 Bedroom 3.5 Bath Townhouse in East Boca Raton: 492 E. Boca Raton Rd Boca Raton, Florida 33432

Sold!  3 Bedroom 3.5 Bath Townhouse in East Boca Raton:

492 E. Boca Raton Rd Boca Raton, Florida 33432

Sold Price: $905,000

I had the pleasure of working with a couple from Birmingham, Michigan who are planning to make their new home in Boca Raton. They wanted either a one-story home or a multi-level with an elevator. High on their priority list was a walkable area. We found a beautifully updated townhome with an elevator, in East Boca, walking distance to the beach, downtown Boca, Mizner Park, concerts, movies, shopping and more.

This townhouse belongs to the boutique-style townhome community of Fifth Avenue Place. It is located on a lovely street in the desirable neighborhood of Golden Triangle in East Boca…

836 Views, 0 Comments

Golden Harbour Masterpiece

Magnificent Deep Water Estate Home in East Boca Raton

591 Phillips Drive: $4,500,000

This Mediterranean, waterfront home, is for the discerning buyer who values authentic over faux. Situated in the desirable East Boca area of Golden Harbour, right near downtown Boca and Mizner Park, dock your boat right behind your home and enjoy easy access to the Intracoastal and ocean. This architecturally classic style has been built in tropical climates for centuries. Every detail that is true to this form is in this unique home - terra-cotta roof tiles, coffered and beamed ceilings, wrought iron gate leading to substantial distressed solid wood front doors, balconies off bedrooms, burnished Spanish terra-cotta floors complemented by Brazilian walnut, high…

949 Views, 0 Comments

Just Listed in the Heart of Boca Raton!

Fabulous Pool Home in Estancia West

5 Bedroom, 3 Bathroom

7133 Estancia Lane: $895,000

This fabulous home is perfect for entertaining and for your own private paradise. Enjoy gatherings in the formal living and dining areas and the generously-sized family room graced by a fireplace, wet bar and large french doors that lead out to the sparkling pool area.

The Chef’s kitchen boasts a Thermador built-in Refrigerator and 7-burner cooktop, 2 Bosch dishwashers, 2 sinks, 2 convection ovens, and extensive granite counter space. 

A huge very private master suite with an updated bathroom opens up through french doors to the backyard paradise: an outdoor kitchen, covered patio and electric and solar heated pool with waterfall.

4…

924 Views, 0 Comments

December 2018 Market Statistics ~ Prepare for a Market Rebalancing

Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for December. Read on to learn more about the South Palm Beach County Real Estate market:

Prepare for a Changing Market

We closed out the year with an overall year over year increase of 4.1% in the Median Sales Price and 7.4% of the Average Sales Price for all property types in South Palm Beach County. Although it is a slight increase, it is a smaller change than in recent years. So although home prices have not yet fallen, there was a decline in the rate of appreciation.  The price increases are a result of high demand for fewer homes for sale, however, there is evidence that inventory…

1572 Views, 0 Comments

July 2018 South Palm Beach County Housing Indicators: Are we in a housing bubble?

Are we in a bubble? Over the summer it seemed everyone was speculating upon whether or not we are in the midst of a housing price bubble. It is too early to predict a market shift in residential real estate, but there are some common indicators that contributed to the previous market crash rearing their heads again. 

Affordability Concerns

Wage increases have not kept the same pace as home prices, leading to affordability concerns - particularly with lower-priced homes. Additionally, predicted interest rate hikes will continue to affect borrowers’ buying power. 

Supply Concerns

On the other hand, demand continues to outpace the supply of available homes in many markets. This trend leads to increased prices overall. Median Sales Price of…

1278 Views, 0 Comments

June 2018 Palm Beach County Market Statistics: Condo Prices Surge

June’s performance for the Palm Beach County real estate market for existing homes largely reflected the prevailing trends that we had seen for 2018 thus far, as revealed in the latest market statistics from Florida Realtors.

Closed Sales

Overall, 50 fewer single-family homes sold in Palm Beach County in June 2018 as compared to June 2017, a 2.7% decline. Meanwhile, 60 more condos and townhouses sold this past June, an increase of 4.9% compared to the same period the previous year. The number of closed sales year to date (January-June 2018) did not change from the previous year for single-family homes and rose 4.3% for condos/townhomes. 

Inventory

The absence of sales growth (especially in single-family homes) of the past couple of years is due…

1232 Views, 0 Comments

Nine Real Estate Myths Exposed

 If you are thinking of buying or selling a property in the Boca Raton area, you probably have some preconceived ideas about the process. Here are a few of the common misconceptions that we agents encounter:

1. You should list your house a little bit higher than the market to leave room for negotiating. Anyhow, if it is priced too high you can always lower it.
   Listing your home at too high a price might actually result in you getting less than if you had priced it properly from the start. With virtually all buyers doing research online, they are very well-informed about the state of the market and what prices should be. Buyers and their agents will not look at a property that they perceive as overpriced. The more buyers that see your house, the…

1959 Views, 0 Comments

How’s the Market Doing?

Palm Beach County’s housing market reported rising median prices along with reduced listing inventory in May 2018 as compared to May 2017, according to the latest housing data released by Florida Realtors®. 

Notable facts from the latest statistics include:

The Market for Single Family Homes and Condos/Townhomes is Different
The median price of closed sales in Palm Beach County for single-family homes continues to rise, with a 5.7% increase from the same period last year. The median price now stands at $354,000 for single-family homes. The median price has increased every month this year for single-family homes. 

The median price for condos and townhomes did go down somewhat this month as compared to the previous year, as well as month to…

1014 Views, 0 Comments