Kelly Rossow, PA
eXp Realty

Pricing in Palm Beach and Martin County

 August 2020:  Here's what July 2020 was...quite simply...a hot market for real estate!  Sellers:  In Palm Beach, Martin and Broward Counties for single family homes, buyers are RACING to see your home the second it's available.  What does that mean for you if you're selling?  Sellers need to ask me how I prep homes for an instant offer so that the foot traffic is fast and furious!  The system is proven. An example is a home in Palm Beach Gardens that had 4 offers in 6 hours with more then 14 showings!

For buyers:  EVERY BUYER NEEDS TO MAKE AN APPOINTMENT FOR A BUYER CONSULTATION.  I will hold a buyer consultation with you via zoom for convenience even if you're not sure you're ready.  Just as a seller preps for putting their house on the market, buyers need to armor up prior to the buyer battle.  Ask me how.  If you have specific buyer needs, please schedule with me so that I can advertise those needs as I speak with sellers each and every day!

 

Finally, for the rare occasion that someone expresses "Election concern"...what I will tell you is that the winner from the Presidential election will mean a win for Florida.  Folks who were quarantined in small quarters in the Northeast, are relocating regardless of election outcome and guess where their location destination is!  FLORIDA!  Favorable taxes and low interest rates and of course the sunshine are the perfect storm for a continued hot real estate market in South Florida!

2020 June Palm Beach County Stats

2020 June Martin County Stats

2020 June Broward County Stats  

July 2020:  Heading out of Covid-19.  We're back on track with open houses!  Sellers experienced a slight slowdown at the end of April and a rush at the end of June 2020.  THIS IS NOT 2008.  The difference:  In the shift, we had a tremendous number of houses on the market.  Right now, in Palm Beach County, we remain in a sellers market with barely 4 months worth of inventory in single family homes!  In North County areas, we're seeing a rush to get into homes where there is little to no inventory.  This is creating multiple offer situations and above asking price bidding. 

Buyers in this market are wise to evaluate their need for a seller credit or concession and should be pre-approved with a LOCAL LENDER prior to looking. Buyers should be prepared to make strong offers and can incorporate strategies to top competing offers.(Ask me how!)

With the numbers listed below, remember the stats come in for the previous month so June stats should reflect strong activity in both Palm Beach and Martin counties.

2020 May Palm Beach County Stats

2020 May Martin County Stats

 

2020:  HERE'S WHAT I SEE SO FAR:  in Palm Beach County, we have almost 25% percent less homes on the market then the previous year.  Buyers are flocking to well priced houses and if priced right, the home should sell quickly and at or very near asking price.  Sellers have the ability to accept offers with seller concessions for FHA (up to 6%) and conventional (up to 3% in most cases) when the buyer is adding said concession amount to the asking price.  This is a win for both seller and buyers.  My pre-approved buyers are averaging about 12-15 days from contract to close.

April 2020 Palm Beach County Stats

2020 in Martin County:  Martin County remains a fabulous deal due to lower property taxes.  The Martin County market has been relatively calm in the arena under $500,000 and on fire above $1,000,000.  This big price range which includes country club and beach/waterfront tends to skew sold numbers as we see them come through monthly.  The $300,000 listing bumps into affordability issues with buyers stretching out of their price point parameters set by lenders.  The number of homes on the market remains low and buyers will need to bid at or above the asking price in many cases in order to secure their dream home.

April 2020 Martin County Stats

2020 March Palm Beach County Stats

2020 March Martin County Stats

2020 February Palm Beach County Stats

2020 February Martin County Stats

END OF YEAR 2019 STATS:

2019 Year End Palm Beach County Stats

2019 Year End Martin County Stats

 

Housing October 2019: 

Changes in the Palm Beach County Market:  For the 3rd month in a row, the median closed price has remained at $355,000.  This is important because there are some months when an extremely high or extremely low closed sale can skew the numbers.  The Palm Beach County single family home market remains strong and homes priced correctly sell within 5% of the list price, at or above the listed price due to low inventory.  If you see a home you think you love, you can win with a strong offer with strong terms and pre-approval from a local lender.  To streamline your search, ask me about my buyer system to help you find your dream home!

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Martin County Housing October 2019:

Martin County has posted a higher median for closed home sales for a few months now.  The reason, the 1 million dollar plus home market has been HOT in Martin County.  According to the Realtor Association of the Palm Beaches, "This was caused by the 62.5 percent increase in single family homes sold over $1 million from 13 home sales in September. "

Martin County's inventory dipped slightly from August to September reported numbers.No photo description available.No photo description available.

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August 2019 Palm Beach County Market Stats

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June 2019 Palm Beach County Stats

June 2019 Martin County Stats

May 2019 Palm Beach County Stats

May 2019 Martin County Stats

 

April 2019 Palm Beach County Market Stats
April 2019 Martin County Property Stats

March 2019 Palm Beach County Market Stats 

March 2019 Martin County Market Stats

 February 2019 Palm Beach County Market StatsFebruary 2019 Martin County Market Stats

 

The 2019 Season is here! 

Welcome back snowbirds! 

January 2019 Palm Beach County Market StatsJanuary 2019 Martin County Market Stats

 

 

2018 Year End Report-Palm Beach County

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Martin County Year End 2018 

 

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December 2018 Market Stats:

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Palm Beach County November Stats 2018 

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Palm Beach County 2018 October Stats

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September 2018-Tropical Storm Gordon-

Simply a rain event for Palm Beach County!  Sunny skies and cooler temperatures make this the best time to get ready for the upcoming season.  Ask me how you should spruce up your home today!

 

 

August 2018 Market Stats Palm Beach County

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July 2018 Market Stats for Palm Beach and Martin County

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June 2018 Palm Beach and Martin County Stats

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May 2018 Palm Beach and Martin County

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April 2018 Palm Beach County Market Stats

May 2018 Martin County Market Stats

March 2018 Palm Beach County Market Stats

March 2018 Martin County Market Stats

February 2018 Palm Beach County Stats

 January 2018 Palm Beach County Stats

 

Welcome to 2018!

6% is the percentage that the National Association of Realtors expects homes values to rise this year.  Remember, your value is market specific.  If you're considering selling this year, please ask me for your home value!

I need my home's value

 

Did you know?

Mortgage experts tell me "people like the sound of a 30 year fixed mortgage.  Buyers  tend to overlook FHA loans."  Want to know the right mortgage product for your situation?  Let me know and I'll have you speak with a lender who can evaluate the best fit for you so you can get started on your new home search!

 

Need to sell before the end of the year?   

Ask me why the time between Thanksgiving and New Year's is the best time to search!

 December 2017 Palm Beach County Stats

Palm Beach County Real Estates Stats July 2017 Kelly Rossow,PA

May 2017 Homes Sales:

May numbers are in.  The month's supply of inventory from May 2017 compared to a year before remain the same with 4.9 months of homes on the market.

 

2015 Sales update:

Here are a few interesting tidbits about the state of the housing market specifically in Palm Beach County.  This information is provided by the Realtors Association of the Palm Beaches.

  • 11% more homes were SOLD in 2014 than in 2013
  • CASH SALES:  46% of purchases were CASH in 2014.  This number is down by 6% indicating buyers may not be having to compete against investors as they have in the past few years.
  • INVENTORY IS UP 7.7% TO A 5 1/2 MONTH SUPPLY
  • INTERNATIONAL BUYERS could strongly affect sales this year as the dollar grows stronger.

 

August 2014:  Palm Beach County Schools start mid month.  The Palm Beach County School District is already sending all calls to parents about changes in the bus routes this year.   After August 5th, go to palmbeachschools.org "My Bus Stop" icon to double check your pick up in the am and drop off in the afternoon.

 

July 2014:  The Reality of the Market.  

Buyers looking in the $250,000-$500,000 price point:  be ready to act quickly,pay full price, and be flexible on your terms.  Sellers are asking to rent back more often.  Move in ready homes are attracting multiple offers and the properties move quickly.  Can you?  Ask me how I can help you get ready to make an offer on your dream home. 

 

May 2014:  Here are the latest Real Estate Stats for Palm Beach County:

 

Palm Beach County Real Estate Stats April 2014 Kelly Rossow,PA

 

Mortgage Interest Deduction-Should it stay or should it go?  

The National Association of Realtors is urging homeowners to write your area lawmakers about the hot topic of your home interest deduction. Discussions are expected over the next month in Congress changes could affect your taxes and home investment today and into the future. Check back here for updates.   

 

Short sale vs. Foreclosure property:  Wondering the difference?

This was such a great question asked by Debbie that I thought I would share with everyone who visits my site.    

The difference between a short sale and a foreclosure is that a bank owns a foreclosure and a short sale is a status where a homeowner is diligently attempting to negotiate with the bank after receiving an offer.  Short sales make sense if you have a longer time frame to look and you're not afraid of a 30 day to 2 year wait.  Bank properties generally come on the market and first priority goes to a buyer who wants to live in the property.  After about a 14 day "on the market period", the bank will consider offers from investors.  Here is the kicker to a bank owned, some need enough renovation that they would never be eligible properties for a buyer needing to get a mortgage.  That makes some foreclosure or "bank owned" properties suitable only fort an investor/renovation type CASH buyer.

 

Each situation with an offer is different and I judge by last sold in the area that is similar to type, location, square footage etc.  There are times when I will encourage a buyer to start lower than normal and times where I will advise a buyer to bid above asking based on what I have discovered could potentially happen during a negotiation.  Many bank owned properties will go above ask price if there are multiple offers.  Some that may not be priced correctly/need an excessive amount of repairs will go below the ask price.  It truly depends on the individual situation as to how I would help a client determine the price to offer.

Thank you Debbie for asking for clarification!

The Honda Classic is here!

Feb. 24-March 2, 2014

Thursday, February 20,2014 

7:00-10:00pm The Honda Classic Kick-Off Party at the Gardens Mall

 

Sunday, February 23, 2014 Bronze Pro-Am (The Champion Course)

Monday, February 24 12:30-5:30pm Miami Dolphins Pro-Am (The Champion Course)

Tuesday, February 25

All Day:  PGA TOUR Professionals Practice Rounds (Champ)

8:30-3:30 Executive Women's Day

4pm Krank Golf Junior Golf Clinic (Champ Practice Range)

Wednesday, February 26 6:50am Gold Pro-Am (Champ)

Thursday, February 27 7:00am The Honda Classic-First Round begins

10:00-3:00 Play Golf Expo

Friday, February 28-Please check back... more updates to come!

 

Tickets: www.thehondaclassic.com

The Latest Market Info: 

 

 

Your Local Real Estate Connection in South Florida

Get a positive, helpful partner for Selling your Florida Real Estate and Buying a Florida Home for Sale:

  • Trusted resource for answers about the process
  • Innovative marketing strategies
  • Expertise about neighborhood features
  • Ability to target home searches
  • Strong negotiation skills
  • Support through the closing and community connections
February 2014-The Season to buy and sell IS NOW.  Pricing has taken a step up since 2013 and buyers are looking for their dream home! 
 
Lower Loan Limits start January 2014-As we bring 2013 to a close, we have new mortgage limits hitting as we roll into 2014.  The FHA loan limit will decrease to $345,000 in Palm Beach County.  This is down from the 2013 amount of $423,750.  Neighboring Martin and St. Lucie Counties will decrease to $316,250.  Palm Beach County still sees more than half of home sales closing with cash as the New Year approaches.
November 2013-Mortgage rules are changing for both ratios and for Homepath loans.  Contact Suzanne Downs at Palm Beach Mortgage for the latest on how that will affect your next home sale or purchase.
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Working with THE BEST AGENT:
Here's a guideline to gauge the Realtor you will work with:
The best agts work with serious buyers and sellers only.
The best agents run their business like a business.
The best agents are prepared.
The best agents schedule their business days and don't allow interjptions or drama to disrupt the client process.
The best agents list their sellers AND their buyers.
The best agents are respected and because of that their clients don't call them after hours, they respect their personal time and they understand that appointment time is sacred to the agent.
The best agents don't shortchange steps of the buying or selling process.
The best agents are ethical.
The best agents work with serious buyers and sellers only.
The best agents run their business like a business.
The best agents are prepared.
The best agents schedule their business days and don't allow interruptions or drama to disrupt the client process.
The best agents list their sellers AND their buyers.
The best agents are respected and because of that their clients don't call them after hours, they respect their personal time and they understand that appointment time is sacred to the agent and the client.
The best agents don't shortchange steps of the buying or selling process.
The best agents are ethical.
 
October 2013:  Home Lending Changes: Buyers look at the new lending requirement!
Mortgage update-  Many buyers started to ask what would happen with FHA lending during the shutdown.  Here are the latest changes:  On Nov. 16, 2013-Fannie Mae will increase their minimum down payment requirement from 3% to 5%.  Right now, you still have TIME TO GET A HOME UNDER CONTRACT WITH 3% DOWN.  Call me today for a buyer consultation!
Thank you to Suzanne Downs with Palm Beach Mortgage for this mortgage update.
-Always Aggressively dedicated to helping with our buying success!
Sept 2013 NEWS! (More Listings below announcement!)

 

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Kelly Rossow, PA

eXp Realty
M:
561-389-4107
O:
561-389-4107
Beaches MLS Inc.
All listings featuring the BMLS logo are provided by Beaches MLS Inc. Copyright 2020 Beaches MLS. This information is not verified for authenticity or accuracy and is not guaranteed. © 2020 Beaches Multiple Listing Service, Inc. All rights reserved.