Is Palm Beach County a Buyer’s Market?

It appears that as of April 2014 Palm Beach County is still in a buyer’s market.  A buyer’s market consists of 6 months of inventory or more.  In April 2014 we had exactly 6 months of inventory on the market.  That is just our single family home market, condos not included.  Our inventory in Palm Beach County offered over 7000 single family homes on the market…down 7.3% from the same month last year.  The second interesting note is that our closings are down as well.  In April 2014 1185 single family homes closed…also down a whopping 10.4 down from the same month last year.  Even our contracts ready to close are down 11%.  So what does this all mean?

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It’s an exceptional market to buy and sell in.  As close to a balanced market as we’ve seen in a while.  It’s a healthy market for our sellers and our buyers still take advantage of amazingly low interest rates as well as property values holding steady.  In fact, if you’re thinking of a move up…now’s the time.  Time to sell and move into that smaller more manageable home?  Now’s the time.  For more information on what this means to you contact Jackie Ellis today!  561-965-1225