Hello Everyone and thank you for watching. This is Gia Freer with Palm Beach Premier Real Estate here in Boca Raton Florida with your local market report for December 2014.
So here’s our quick take on the numbers that just came out ….
The big news is that December Closed Home Sales trumped the Previous Year with a Twenty Percent Increase!
Over the last couple of months we’ve talked about the “Snowbird Effect” – with folks from up north coming down earlier than usual and stimulating the real estate market with their activity.
….Looking into the numbers in more detail – clearly the snowbird season and seasonal buyer confidence has boosted closed sales.
Indeed, we saw additional evidence of this in December inventory levels for single family homes in Palm Beach County. NEW listings were up nearly 13 percent compared to the corresponding period one year earlier.
In year-over-year comparisons, we see substantial increases in the single family homes sector,
indicating a further boost in seasonal buyer confidence. New pending sales for example rose 15.9 percent from 1,252 to 1,451.
Lastly, news surrounding the Tourist Development Tax increase may have also been a catalyst, motivating
tourists to transition to residents of the Sunshine State once and for all. According to Matt Halperin, - President of the Realtors® Association of the Palm
Beaches (RAPB). “With the approval of the increased Tourist Development Tax towards beach re-nourishment and marketing/promotion of the Palm Beaches, local and seasonal buyers alike will now invest with even greater confidence in our market.”
We will of course continue to provide you with regular market updates.
In the interim, if you are thinking of getting your home on the market, or you just want a second opinion of value or have questions, please give us a call here at 561.395.8418 or email us at Info@PBPrealestate.com.