Real Estate Recap: August 2016
The South Florida real estate market is has remained strong, with nearly all positive statistics coming in for the month of August. Keeping in line with this trend, our office delivered excellent results for our customers during the month as well.
Palm Beach County Stats
Palm Beach County’s real estate market saw an increase in single family home value of 7 percent when compared to August 2015 home values. August also showed a steep increase in the overall number of single family homes sold, an 11 percent increase over August 2015. Other important indicators being tracked, such as the number of active listings and inventory, remain very healthy and are positive indicators for the strength of the market.
Sales of Palm Beach County townhomes and condos have gone up year-over-year as well (3 percent, to be exact), and prices have risen sharply right along with them! Additionally, there is currently more inventory of these properties on the market, giving buyers more options and a great time to purchase.
Broward County Stats
Overall inventory of available single family homes in Broward County in August 2016 is down when compared to inventories during August 2015 (11.1 percent), which is contributing to a rise in closed sales and home prices, which are up 5.9 percent year-over-year.
The National Market
Even though the year-over-year numbers are largely positive for Broward and Palm Beach County, the month-over-month trend from July to August tells a story of declining sales activity on a national level. These numbers have demonstrated a decrease year-over-year as well, placing the home sales index at its second lowest point this year. Ultimately, these findings make the strength of the local market all the more notable, as our upward progression is likely to continue.
The Majestic model is highly sought-after. The 6-bedroom, 5-bath home is located in one of Delray Beach’s finest luxury gated communities, Grand Orchid, near to the Boca Raton border. To see the distinctive layout for yourself, contact Samona Rosenberg for a showing.
New Stein Posner Listings
Stein Posner professionals listed 6 homes during the month of August. Properties spanned Deerfield Beach to Boynton Beach, with Delray Beach accounting for half of these newly listed homes.
618 Eldorado Lane, Delray Beach, FL 33444 — Gayle Meyerson (561.706.2133)
3789 Cocoloba Lane, Boynton Beach, FL 33436 — Ofir Koren (561.319.7774)
22444 Martella Ave, Boca Raton, FL 33433 — Ron Posner (561.239.8040)
6735 Royal Orchid Circle, Delray Beach, FL 33446 — Samona Rosenberg (917.969.7768)
1019 Hythe B, Boca Raton, FL 33434 — James Alfano (561.886.8184)
287 Durham H, Unit 287, Deerfield Beach, FL 33442 — Antonella Rosano (561.414.0009)
Stein Posner Sales
Our professionals were busy closing sales as usual also during August, delivering 15 closed deals for our clients. Sold properties were located as far north as West Palm Beach and as far south as Fort Lauderdale.
6481 SW 18th Street, Boca Raton, FL 33428 (Rental) – Stacia Iaia (561.305.7699)
6662 Boca Del Mar Drive, Unit 116, Boca Raton FL, 33433 (Rental) – Eva Carrington (561.358.8216)
6643 Duval Ave., West Palm Beach, FL 33411 — Judi Colclasure (954.665.0601)
3400 S. Ocean Blvd, Unit 6A, Palm Beach, FL 33480 (Rental) — Michael Wagner (917.912.7279)
1300 NW 3rd Ct, Fort Lauderdale, FL 33311 — Fernando Alves (202.538.4070)
4105 Crystal Lake Drive, Deerfield Beach, FL 33064 — Lauren Golen (561.445.3262)
5790 Piping Rock Drive, Boynton Beach, FL 33437 — Ofir Koren (561.319.7774)
9401 Cascade Court, Boynton Beach, FL 33437 — Ron Posner (561.239.8040) / Adam Stein (561.241.2103)
6270 SW 10th Court, North Lauderdale, FL 33068 — Gary Carpenter (561.632.3034)
1032 E Jeffrey Street, Boca Raton, FL 33487 — Ron Posner (561.239.8040) / Adam Stein (561.241.2103)
32 Lake Osborne Drive, Lake Worth, FL 33461 — Ron Posner (561.239.8040) / Adam Stein (561.241.2103)
625 SW 1st Lane, Unit 625, Pompano Beach, FL 33060 — Jim Davis (954.328.4370)
5540 Fairway Park Drive, Unit 104, Boynton Beach, FL 33437 — Jim Davis (954.328.4370)
Reflections of Boca Del Mar, Boca Raton (Rental) — Bianca Ferri (561.409.9749)
22173 Majestic Woods Way, Boca Raton, FL 33428 (Rental) — Adriana Deutsch (561.239.5080)
The South Florida real estate market remains healthy and strong. There’s no better time to jump in. If you’re interested in buying or selling a home in South Florida, contact our expert team today.