For a while it was definitely a Seller’s Market here in the Jupiter area. We had more people looking for homes than we had homes to sell in certain price ranges. Lately inventory has increased by a few percent, but it’s still not at a level that would truly make a buyer’s market.
Prices have been on the uptick. The Realtor’s Association of Palm Beach County has reported the price of certain single family homes in the midrange rose by around 10.9 percent. The selling prices came in at 95% of the asking price, so that is a great sign that buyers are willing to pay close to asking price.
Palm Beach Post tells us:
“Palm Beach County’s property market had a 4.8-month supply of homes for sale in September, up from just a 4.3-month supply a year ago. Anything less than a six-month supply is considered a seller’s market.
“It’s still a seller’s market,” said Sue Gaieski of Water Pointe Realty Group in Tequesta. “Definitely, the job market is getting stronger. And a lot of people still want to retire in our area.”
What’s more, for renters, it’s a compelling time to buy a house. The real estate website Trulia said Thursday that Palm Beach County is one of the U.S. metro areas where it makes the most sense to own rather than rent.”
If you have been considering a move, it would be a good time for me to run the information on what your home would sell for, and for us to discuss what type of home you are considering a move to. Are you currently renting? In certain price ranges it could actually be cheaper to own your very own home.
In general, Real Estate has recovered it’s value as an investment. If you have cash just sitting in the bank generating very little interest, it could be a great time to invest some of those funds in a rental property. You could generate monthly income, plus whatever appreciation the property gets.
Give me a call, we can chat.