The Real Estate Market in South Florida is Changing Again
Six month ago I wrote how a buyer walked away from four homes, and the sellers all let her walk. That doesn't seem to be the case now.
In the past few months, we have not had much inventory hit the market, thereby causing a shortage of homes in many communities. There is still a lot of new construction going on, but for resales not so much. This does vary by community. Do I think you should still take a buyer's agent to a builder? Absolutely! You can read why here.
In south Florida, especially in the Boca Raton, Delray Beach and Boynton Beach area, we are loaded with communities. There are still homes on streets, but we have many gated communities. We are the heart and soul of the 55+ communities in south Florida along with a lot of all-age communities.
But, I digress. In the past few months, there has been less inventory hitting the market despite low interest rates. This has made it challenging for many buyers and sellers alike. We are not in a seller's market - the market has sort of balanced out. When a well-priced home hits the market, it sells.
Of course, we can say it's summertime in south Florida. Many people head up north this time of year. Or kids are going back to school. But more people are moving here full time for tax reasons, among other reasons.
I'm watching it. I do monthly market reports for all these cities, which you can see at the bottom of this page. I haven't done July yet but I will.
The only thing I have noticed is more inventory at the beach - Boca, Delray and Highland Beach. But, hey, even if the beach goes down a bit, it always comes back. There is just so much waterfront property around.
All in all, I think the market is more balanced. Interest rates took another cut. New home prices are rising. You can still get a good deal on a resale.
If you have any questions about gated communities in Boca Raton, Delray Beach, Boynton Beach, FL or the surrounding areas in south Florida, please contact me. I can be reached by cell/text at (561) 716-7824 or email at This email address is being protected from spambots. You need JavaScript enabled to view it..
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