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 August 2022. Read on to learn more about the real estate market in South Palm Beach County:

Summer 2022 has been a season of change for the U.S. real estate market. With housing affordability at a 33-year low, existing-home sales have continued to soften nationwide, falling 5.9% month-to-month and 20.9% year-over-year as of last measure, according to the National Association of REALTORS® (NAR). Pending home sales have also continued to decline, while new listings have steadily increased, with unsold inventory reaching 3.3 months’ supply at the start of August. The pullback in demand has been…

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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 July 2022. Read on to learn more about the real estate market in South Palm Beach County:


The U.S. housing market has continued to cool, as rising mortgage rates and record-high sales prices have stifled affordability, weakening demand and pricing out a multitude of buyers. Nationally, median household income has failed to keep pace with increasing mortgage payments, with the costs of buying a home about 80% more expensive now than they were just three summers ago, according to the National Association of REALTORS® (NAR). As more and more prospective buyers find their home purchase plans…

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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 June.  Read on to learn more about the real estate market in South Palm Beach County:

Rising inflation, soaring home prices, and increased mortgage interest rates have combined to cause a slowdown in the U.S. housing market. To help quell inflation, which reached 8.6% as of last measure in May, the Federal Reserve raised interest rates by three quarters of a percentage point in June, the largest interest rate hike since 1994. Higher prices, coupled with 30-year fixed mortgage rates approaching 6%, have exacerbated affordability challenges and rapidly cooled demand, with home sales and…

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April Market StatisticsNewly 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 April 2022.  Read on to learn more about the real estate market in South Palm Beach County:

The average 30-year fixed rate mortgage exceeded 5% in April, the highest level since 2011, according to Freddie Mac. The recent surge in mortgage rates has reduced the pool of eligible buyers and has caused mortgage applications to decline, with a significant impact on refinance applications, which are down more than 70% compared to this time last year. As the rising costs of homeownership force many Americans to adjust their budgets, an increasing number of buyers are hoping to help offset the costs…

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September real estate market statisticsNewly 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 September 2021.  Read on to learn more about the real estate market in South Palm Beach County:

Inventory problems persist as demand continues to far exceed supply of homes for sale. Real estate conditions depend upon both mortgage interest rates, which are slightly higher, and the number of available homes for sale, which continues to be extremely low.  Although some first time buyers might be giving up and sitting out the market, the demand amongst high-earners and second home buyers continues to push prices higher. 

New Listings decreased 13.1 percent for Single Family homes and 18.2…

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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 July 2021.  Read on to learn more about the real estate market in South Palm Beach County:

The White House recently announced additional measures to help struggling homeowners avoid foreclosure as they exit forbearance, including loan modifications and payment reductions. Borrowers with federally backed mortgages can lock in lower interest rates and extend the length of their mortgages. For borrowers who can’t resume their monthly mortgage, HUD will offer lenders the ability to provide all eligible borrowers with a 25% principal and interest reduction. 

Local Market Summary

New…

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Just sold! A Beautiful 5 Bedroom Pool Home with a Lake View at 20143 Ocean Key Drive, Boca Raton

Sold Price: $865,000.00

This beautiful home features 5 bedrooms and 4 full bathrooms. This house is bright and spacious with volume ceilings and large windows throughout. Magnificent lake views from almost everywhere in the house! Boca Isles is a gorgeous manned gated community with tons of amenities including, pool, tennis, gym, tot-lot, and a modern clubhouse.


For more information about Boca Isles or any other communities in the Boca Raton, Delray Beach, Parkland, and Boynton Beach areas contact:

TOV CHARM 
(561) 288-0868 
TOV@BOCAEXPERT.COM

 


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Just Listed! 5BR Newer Construction Home with In-Law Suite in Lake Worth: 4083 Tomoka Drive

Asking Price: $515,000.00


Gorgeous newer construction home located on a quiet Cul-de-Sac. Oversized lot, last house on the block, with a neighbor on only one side. Separate ''in-law'' suite on the first floor with bedroom, living room, kitchenette, full bath and laundry room. Remaining 4 bedrooms and 2 full bathrooms upstairs. The kitchen features granite countertops, oversized island, under mount sink, upgraded 36'' cabinets and stainless steel appliances. Powder room downstairs. There is 18x18 tile throughout the living areas. Large backyard. Close to hwy, shopping, restaurants & beaches.

 

For Compete MLS listing: MORE INFORMATION


For…

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 Sold! A Beautiful 4BR Pool Home at 7258 NW 64th Terrace, Parkland

Sold Price: $725,000.00

I had the pleasure of representing the buyers of this beautiful pool home located in the beautiful Ternbridge community in Parkland.   Updated 4 bed, 3 full bathroom, 3-car garage home with a private pool & garden. This ranch home features a 3-way split floor plan and a screened-in pool with a large covered patio surrounded by nature.


For more information about Ternbridge or any other communities in the Parkland, Boca Raton, Delray Beach, and Boynton Beach areas contact:

TOV CHARM 
(561) 288-0868 
TOV@BOCAEXPERT.COM

 

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graphic of market statistics for May 2021Newly 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 May 2021. Although much of the change year over year is distorted by the slow real estate market during the height of the pandemic in May 2020, it is still interesting to see the state of our current local market. Read on to learn more about the real estate market in South Palm Beach County:

Demand Continues to Outpace Supply

As the weather warms and pandemic restrictions ease across much of the country, the U.S. housing market shows little sign of cooling. Robust buyer demand, fueled by low mortgage rates, continues to outpace supply, which remains near historic lows. Nationwide,…

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