The South Florida real estate market was blessed with an unfamiliar positive gain this 2nd quarter, with an increase in both total sales and sale prices, in Palm Beach and Broward County.
“Palm Beach County’s median price for existing single-family homes was $245,000 in the April-through-June period, 14 percent higher than a year earlier, according to data released last week by the Realtors Association of the Palm Beaches. There were 4,369 home sales, up 13 percent. In Broward County, the median price rose 21 percent to $255,000, while the 4,132 sales represented an 11 percent increase, the Greater Fort Lauderdale Realtors said.”
The best part about these statistics, are not even the numbers themselves, but actually what group is driving these numbers. It is looking like more and more home buyers are entering the market, while investors are making up a smaller amount of total purchases. This surely makes for a much healthier market.
On another note, two of the local Realtor boards are planning to join forces. “The Realtors Association of the Palm Beaches says it’s merging with the Realtors Association of St. Lucie, effective Sept. 1.” This merge will allow for reduced costs, with an expanded utility and benefits.
“By combining our numbers we gain tremendous purchasing power,” Van Gorp said. “We also increase our influence and our capacity to provide more and better tools, resources and training, which benefits our members and the buying and selling public.”
To read the full article (By Paul Owers), visit: http://articles.sun-sentinel.com/2013-08-10/business/fl-real-estate-col-08112013-20130810_1_real-estate-notebook-greater-fort-lauderdale-realtors-home-sales