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The Numbers for February are in (per RAPB) and the South Palm Beach County Real Estate Market continues to stay hot. Single-Family home sales were up 15.7% compared to last year. Townhomes/Condos are up a staggering 25.4%. The only chink is that total sales of townhomes/condos were down 15.6%. Much of this is due to investor purchases. One investor I talked to said they were still purchasing but had cooled because it’s harder to make the 8% return on rents that they desire to make. There are a number of rental projects in the Jupiter-Juno-Palm Beach Gardens area coming in the next year, thus I see a cooling of rental prices which should trigger a slowdown of the appreciating prices in this category. However, there is very little new construction on the horizon for properties for sale. This means that resales are the only option for a Buyer. Therefore, prices should continue to rise without an increase in supply for our growing market.
Posted in Uncategorized on April 4, 2014 at 6:32 am.
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Echo Fine Properties, winner of Best Brokerage of the Palm Beaches in 2020, 2021 and 2022, is located in Palm Beach Gardens, Florida. We are a family-owned local brokerage that prides itself on having the finest full time luxury real estate agents who know the area backward and forward. Each agent is hand selected to join us for their knowledge of the area including golf club communities, gated communities, equestrian and ranch estates, condominiums, and waterfront and boating estates. Echo is unique in real estate in that our company pays for all marketing, advertising, and all support which is handled in-house. WE PAY, which lets the agent concentrate on our customers. Unlike other firms, agents never have to compromise the marketing budget. Our Home ECHOnomics Guarantee offers an unheard of 57-promises. This website consists of 5 separate MLS feeds, giving 100% accuracy ranging from Miami to Fort Lauderdale to Palm Beach to Martin County.
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