About 17 years. A new report from the National Association of Realtors shows rising mortgage rates and rising home prices are still affecting home sales this spring. April marked the fourth consecutive month of rising interest rates and prices, but there is some good news in that more homes are now listed. Local Real Estate agents say people looking to buy have more options than in previous months. The latest data shows that Palm Beach County has over 5,000 active listings, which represents a nearly 38% increase in residential listings compared to this time last year. In Martin County, about 670 homes are listed for sale. In St. Lucie County, over 2,000 homes are listed for sale. This could give buyers more negotiating power. The single-family home market is very strong. Oh, it’s really over. Uh, it’s listed in the inventory, but you know, the inventory is about 4.4 months, 4.5 months. We’re in a high interest rate environment here. And how long will that last? Nobody has a crystal ball. Honestly, nobody knows. But the people who are coming in with the means to pay cash are paying. And there are houses for sale. We’re seeing more homes for sale in the area, and prices are soaring. Real estate agents say they’re seeing a lot more people coming in from Broward County.
Real Estate Agents: There are more homes for sale now in Palm Beach and the Treasure Coast than there were this time last year
“This is an opportunistic market. Buyers are buying and sellers are selling,” David Sell, president of Broward, Palm Beach & St. Lucie Real Estate Company, told WPBF 25 News.
Last updated: May 22, 2024, 10:36 PM EDT
If you’re looking to buy a home in Palm Beach or the Treasure Coast right now, you’ll see an increase in homes for sale. That’s according to new data from Broward, Palm Beach & St. Lucie Realtors. “It’s an opportunistic market. Buyers are buying and sellers are selling,” David Sell, president of Broward, Palm Beach & St. Lucie Realtors, told WPBF 25 News. Palm Beach County currently has more than 5,000 homes for sale, up about 38 percent from the same time last year. In Martin County, there are about 670 homes for sale. And in St. Lucie County, there are more than 2,000 homes for sale, up about 60 percent from April of last year. “The single-family home market is doing very well. It’s hovering in the range of inventory, hovering around 4.4 to 4.5 months’ worth of inventory,” Sell said. Experts said this means buyers have more negotiating power if they’re looking for their next home now. “We’re in a high interest rate environment here. And how long is that going to last? Nobody has a crystal ball, and honestly nobody knows. But people who can afford to pay cash are paying, we’re selling more homes, and homes are becoming more expensive in this area,” Jason Rush, a real estate agent with Illustrated Properties in Palm Beach Gardens, told WPBF 25 News. There are more homes on the market right now, but sales are also up. In Palm Beach County, officials said more than 1,400 homes sold last month. “It’s going to come down to location and how well put together the home is. Does it look good online? Is it showing and is it available for sale? I think those are the homes that are being bought at this point,” Rush said. Real estate experts also said the trend of more people moving to the Treasure Coast from within and outside of Florida continues. “The Treasure Coast is very attractive right now. We’re seeing a little bit of people selling property in Palm Beach County moving north and then into Martin County,” Sell said.
If you’re looking to buy a home in Palm Beach or the Treasure Coast right now, you may be seeing a lot more homes for sale on the market, according to new data released by Broward, Palm Beach & St. Lucie Realtors.
“This is an opportunity market. Buyers are buying and sellers are selling,” David Sell, president of Broward, Palm Beach & St. Lucie Real Estate, told WPBF 25 News.
There are currently more than 5,000 listings in Palm Beach County, up about 38% from the same time last year. In Martin County, there are about 670 homes for sale. And in St. Lucie County, there are more than 2,000 homes for sale, up about 60% from last April.
“The single-family home market is doing very well. Inventory is hovering around 4.4 to 4.5 months’ worth,” Sell said.
Experts said that means buyers looking for their next home right now have more negotiating power.
“We’re in a high interest rate environment here. And how long is that going to continue? Nobody has a crystal ball and honestly nobody knows. But people who can afford to pay cash are paying, we’re selling more homes and homes are getting more expensive in this area,” Realtor Jason Rush with Illustrated Properties in Palm Beach Gardens told WPBF 25 News.
There are more homes on the market now, but sales are also increasing.
More than 1,400 homes were sold in Palm Beach County last month, officials said.
“What’s important is the location and how well the house is put together. Does it look good online? How is it presented, is it easy to sell? I think those are the types of houses that are selling well right now,” Rush said. Ta.
Real estate experts also said the trend of people moving to the Treasure Coast from within Florida and outside the state continues.
“The Treasure Coast is very attractive right now. We’re seeing a little bit of population moving north from people selling things in Palm Beach County and into Martin County,” Sell said.
