Pending Home Sales in Tequesta Drop 9%
The local real estate market continues to chug on down the road towards another season and we can count the weeks on our hands when our northern friends start pulling into town. Sales have flattened, inventories continue to shrink, interest rates are at all-time record lows and today it is once again time to dig into the pending home sales date for the north county region.
Pending sales are the most accurate predictor of what transactions we can reasonably expect to close escrow in the coming 30 to 60 days. Each month we track 5 different municipalities and bring those numbers to you to keep you in touch with where the market is heading as this affects everyone who is, or contemplating, either selling or buying property.
A couple weeks back we came out with out very first “power rankings” for local sales and we are happy to start our own “power rankings” for pending sales as it will give us all a good picture of where we are seeing the most strength. So here for our first every pending sales “power rankings” for September;
#2 Palm Beach Gardens
#3 Tequesta – Down 9%
#4 Hobe Sound – Down 14%
#5 Juno Beach – Down 44%
The bad news is each of these municipalities show a decrease in pending sales compared to last months numbers but while some remained very steady we started with this months #5 performer, Juno Beach and after that 44% drop things got much better. We move now to the #3 place in Tequesta where pending listings stand at 21 down from last months level of 23 for a less significant drop of 9%. Even with this months drop we remain slightly ahead of the average we have seen for the previous 12 month period which sits at 20 per month. We are significantly ahead of where we were at this time last year when we only had 13 pending sales. The next couple months are going to tell us a lot about where this market heads as we head closer to the season so keep tuned in and we will bring you the latest.
As always, my goal when working with each of my clients, is to fully understand their unique, individual needs and design a program that will successfully ensure their goals are met. “Results Driven Real Estate” is a promise of the highest level of service in the industry and if you would like a complimentary consultation to discuss your particular situation in more detail please feel free to contact Tom at 561 308-1075 or via e-mail at [email protected] We would be honored to be of assistance in any way that we can.