A Better Season
The peak season for home sellers and buyers in south Florida has come and gone. Was it a success? If you ask the sellers who sold, a resounding yes! But there were many more sellers left with unsold homes again.
Buyer traffic was up throughout February, March, and April as prices met more buyers’ decision point levels and agents started once again asking “is the property still available?” before scheduling showings. Contracts written exceeded any month of 2006, a disappointing year after a half decade of higher than average activity. But listings also increased and current inventory levels are around 26 months worth. And of the sellers who have sold, the number of days on market required to reach a contract continued to climb.
I spoke to more than one buyers’ agent who, after seeing dozens of homes with their buyers, had to tell me their buyers couldn’t find what they wanted and they decided to wait, or rent.
Activity dropped off just a bit in May, but there is still a reasonable amount of activity… so all in all it seems things are improving in the market of buying and selling homes in Palm Beach County.