What's Going on with the Latest Market Statistics?

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Today we wanted to take a moment to address some of your concerns regarding the Palm Beach County real estate market. When the latest statistics came out, many people called me, worried about the numbers. So I wanted to take a moment to walk you through them.

The biggest concern was over the median sales price, where we saw a decrease of 8.8% year over year. If you just hear the figure out loud and don't understand why it dropped, you may think our market is shifting to a buyer's market. 
However, if you look at the numbers more in depth, you will find that 1/3 of closings last month were distressed properties, foreclosures, and short sales. Distressed homes always impact our median sales price in a negative way. When you take these properties out of the equation, our market is much more calm. 

Now we did have some good news as well. The median number of days on market is down by 10%, meaning that homes are selling faster. The other important piece of news has to do with our supply of inventory. Right now, we are down 3.2% in inventory from last year, but there were 33% more closings this year than there were a year ago. Pending sales were also up 29.8%.
The real estate market in Palm Beach County is still looking good. If you have any questions, or want to know how your neighborhood is doing, give us a call or send us an email. We look forward to hearing from you soon!
Click here to see February 2015 Market Stats!

Why is 2015 the "Year of the Millennials?"

There are many great Palm Beach County homes for sale. Click here to perform full home search, or if you're thinking of selling your home,click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (561) 352-3056 for a FREE home buying or selling consultation to answer any of your real estate questions.
Welcome back, to a new year and a new blog post. Today we are talking about why we believe 2015 is "The Year of the Millennial."

How do we know this, and why is it important? Well, there are 82 million millennial's out there right now in our country , many of who intend to buy a home in the next 4 years. So, what exactly qualifies someone as a millennial? Generally, the term "millennial" refers to someone who was born between 1980 and the early 2000's. If you are thinking of selling your home, it's important you hire an agent who understands what's important to this huge group of buyers, as well as how to communicate with them. 

We have several members of our team who are millennial's themselves, and are joining us today to give you some tips on how to reach and communicate with these buyers. 

First off, millennial's love social media. They created it, after all. Millennial's also rely heavily on online reviews when making any major purchase. Many of our clients come to us through sites like Zillow and Trulia because they are able to see reviews of agents and make decisions based on that. Millennial's want to have their agent with them every step of the process, because buying your first home is new and scary. 

With millennial's, the preferred forms of communication are different. Text messaging is huge and when you text your millennial clients, you are able to get faster responses and clearer communication. 

One thing that real estate agents are going to need to do to keep up is integrating technology with the devices we have. Tech integration is huge for the future of real estate ,and the faster you jump on the bandwagon, the better off you will be in the future. 

As you can see, True Group real estate agents know how to reach out and convert millennial buyers. If you are thinking about selling, or know a millennial who is interested in buying, make sure you reach out to us today! We can make your home buying and selling experiences smooth and worry-free.