North Palm Beach Sales Statistics
Posted May 10, 2009 @ 3:24 pm, Viewed by 287 Visitors, Read 289 Times.The pace of sales has picked up steadily in North Palm Beach. In January there were 11 homes sold in North Palm Beach. In February there were 16 sales and they picked up to 19 in March. In April there were 29 sales and in the first 9 days of May there were 9 sales.
You can assume the homes that show sold today went under contract 30 to 120 days ago. If we assume a 60 day lag from under contract to sold, then those houses went under contract in November (11), December(16), January(19) and February(29) and one a day in March.
If you look at the figures for Northern Palm Beach County they reflect almost the same trend. We track the homes offered for sale, sold, expired, etc. for the area from Northlake Blvd to Hobe Sound and out to Jupiter Farms. Click Here to see that spreadsheet. The figures for that area are January sold 142, February 183, March 230, and April 265.
If you look at the homes that went under contract to close 60 days or so later they were; January 147, February 182, March 203 and April 237. If you look at the figures and say “wait a minute, there were only 147 that went under contract in January, but 230 sales closed in March”, remember they take from 30 to 180 days to close if they are a short sale and it throws off the averages.
The point I am trying to make in all of this is the trend in sales and under contract is upward and onward. Prices are not going up and will not likely go up until much of the distressed inventory is worked off. In fact some asking prices are still coming down as sellers adjust to the reality of today’s market.
If you are waiting for the bottom of the market to arrive, take heed to the rising sales and reducing inventory and don’t wait too long.
Jim Jacobs
Rate this Post!
Share this Post
Print
Social BookmarkingThis Post Has No Comments.
REW Blogs User Stats
Currently Online Users:
2
Total Users:
2,389
Entries:
7,605
Unique Views:
6,449,083
Total Views:
6,786,883
Total Comments:
9,372
Total REW Points:
510
I am a Real Estate Broker in Florida. I had been a broker in Alaska for a number of years. My wife Ruth and I had our own brokerage there for over 20 years. Read More
Contact Me
RSS Feed- This User's Stats
-
Blog Entries: 16Average Blog Rating: 0Unique Views: 8,156Total Views: 8,363Comments Posted: 1Comments Received: 4REW Points: 0
Top Rated
REW Blogs RSS Feed