Market Update | N. Palm Beach & Singer Island

Market Update | N. Palm Beach & Singer Island

DECEMBER HOME SALES MIXED IN NORTH PALM BEACH AND SINGER ISLAND 

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January 28, 2020 | Singer Island is mostly comprised of gorgeous beachfront highrises, therefore stats for single-family homes are not applicable.  However, single-family home sales in North Palm Beach, which has numerous neighborhoods and communities nearly doubled compared to the same time a year ago. The median price of single-family homes dipped slightly, down 2.4 percent from December 2018.  The supply of single-family homes in North Palm Beach decreased from 7.5 months to 6 months which is considered a normal supply. The market is stabilizing as inventory shrinks and demand is on the rise.

Opportunities for buyers seeking a townhome or condo in North Palm Beach are good. With close to a 6-month supply available and the median price at $260,000, down 3.5 percent from a year ago, now is a good time to consider a great getaway place or investment property.

With over 12 months of available inventory, Singer Island offers a wonderful selection of condos. However, prices remain strong. The median condo price is $465,000, up 15.5 percent from a year ago.

Buyers looking into Singer Island will find many options. Here you will find luxury “new-construction” condos, remodels, and older condos that need some tender loving care. There are many view options too, everything from an ocean and Intracoastal view, to garden and pool. The vast selection of assets, price-points, and amenities in Singer Island provide buyers with many options.

These neighboring towns are natural settings for beach lovers and boating enthusiasts. And to ensure that you are well-positioned when you find that perfect place in the sun, be sure that you are pre-approved with a lender or ready with a cash offer.

Also, if you would like to be among the first to learn about new opportunities, simply request your customized alert and the new listings that match your criteria will be emailed directly to you.

Homeowners who have been on the fence are well-positioned to enter the market with confidence. However, in order to make the best decision, it is incredibly important to know your competition, previous home sales, assets and more. To obtain an accurate valuation it is important to consult a REALTOR with a strong understanding of your area and market. Homeowners are welcome to contact the Warner Team to request a  complimentary home valuation. Simply email us your name, property and email address to receive your free report. Feel free to request free town and zip code reports too.

If you would like to talk with Scott or Julie Warner, contact them directly at 561-385-0938.

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