Friday, February 7, 2025 / by Tov Charm
The Florida housing market is experiencing a notable shift as the inventory of available homes increases. This change is influencing the dynamics between buyers and sellers, leading to evolving opportunities and challenges for both parties.
Current Inventory Trends in Florida
As of December 2024, Florida's housing market has seen a significant rise in available properties. The number of homes for sale increased by 22.6% year-over-year, totaling 196,605 active listings.
redfin.com
This upward trend in inventory is attributed to various factors, including homeowners opting to sell due to rising housing costs and an influx of new listings entering the market.
newsweek.com
Implications for Buyers
Increased Options: With more properties available, buyers have a broader selection to choose from, reducing the pressure to make quick decisions.
Potential for Negotiation: The growing inventory may lead to less competition among buyers, providing more room for price negotiations ands ...
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Monday, January 27, 2025 / by Tov Charm
The December 2024 real estate market in Palm Beach County revealed significant trends across single-family homes and townhomes/condos. Here’s a comprehensive analysis of the data, highlighting key changes and their implications for buyers and sellers.
Single-Family Homes
Key Statistics:
Closed Sales: 1,032 (up 6.5% YoY)
Median Sale Price: $622,500 (up 7.3% YoY)
Average Sale Price: $1,066,261 (up 14.6% YoY)
Dollar Volume: $1.1 billion (up 22.1% YoY)
Median Time to Contract: 41 days (up 41.4% YoY)
Months Supply of Inventory: 5.1 months (up 27.5% YoY)
Analysis:
The single-family home market remains competitive, with a notable increase in both median and average sale prices. The rise in inventory (+27.5%) provides more options for buyers, but the extended median time to contract suggests buyers may have more negotiation power compared to last year. However, with closed sales up 6.5%, demand remains robust.
Townhomes and Condos
Key Statistics:
Closed Sales: 654 (down 18s ...
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Thursday, December 12, 2024 / by Tov Charm
If you’re looking for a home that offers a perfect blend of comfort, convenience, and community, look no further than 22002 Colony Dr, Boca Raton, FL. Located in the vibrant 55+ Colony Woods community, this charming property is full of potential and ready for its next owner.
Key Features of the Home
This 2-bedroom, 2-bathroom home, with the option to convert the den into a 3rd bedroom, is situated on a peaceful corner cul-de-sac lot. It offers a range of features designed for both relaxation and functionality:
An updated kitchen (2019) with sleek quartz countertops, white shaker cabinets, and stainless steel appliances
Hurricane impact windows (2012) for peace of mind and added energy efficiency
A 2023 AC, 2017 water heater, and 2020 washer/dryer with overhead cabinetry for modern convenience
A beautifully updated master bathroom
Enclosed sunroom and screened patio, perfect for entertaining or enjoying your morning coffee
The Colony W. ...
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Monday, December 2, 2024 / by Tov Charm
Delray Beach, known as the "Village by the Sea," offers a unique blend of coastal charm, vibrant culture, and diverse neighborhoods. Whether you're looking for waterfront luxury, family-friendly communities, or an urban vibe, Delray Beach has a neighborhood to match your lifestyle. Here’s a guide to some of the most sought-after areas to help you find your perfect fit.
1. Tropic Isles: Waterfront Elegance
If you dream of waterfront living with easy access to the Intracoastal Waterway, Tropic Isles is the place to be. This upscale neighborhood features beautiful homes, many with private docks for boating enthusiasts.
Highlights: Luxury properties, deep-water access, and proximity to the beach.
Perfect for: Boaters, water lovers, and those seeking high-end coastal living.
2. Lake Ida: Family-Friendly Charm
Lake Ida is a picturesque community with tree-lined streets, spacious homes, and a strong sense of community. Known for its parks and recreational opportunities, it's ...
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Tuesday, October 22, 2024 / by Tov Charm
The historical effect of election years on the U.S. residential real estate market reveals subtle yet significant trends. While uncertainty typically slows down housing activity before Election Day, the market quickly regains momentum once the political landscape becomes clear. Here’s a breakdown of how presidential election years affect real estate, based on historical data.
1. Pre-Election Jitters: A Cautious Market
In the lead-up to elections, both buyers and sellers often hesitate. Many adopt a "wait-and-see" attitude, anticipating how a new administration's policies might impact interest rates and housing affordability. As a result, home sales usually dip before the election.
2. Post-Election Rebound: Confidence Returns
Once the election results are in, the market typically rebounds as uncertainty fades. Historically, after 9 of the last 11 elections, home sales increased in the following year. Buyers and sellers regain confidence, knowing which policies will be in pla! ...
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