MikeInBoca Blog

  September 27, 2022 Palm Beach County Florida Housing Update August 2022 How Can I Help You? The latest information provided by the Realtors Association of the Palm Beaches showed home prices continuing to climb in Palm Beach County as of August 2022.  The sales price of single family homes in Palm Beach County Florida were up 17.7% and townhomes and condos were up 25.4% in August 2022 over August 2021.  “Housing inventory continues to rise in Palm Beach County! We’re starting to see supply levels improve with the help of increasing interest rates and inflation. In August, active inventory rose by 63.1 percent to 3,865 listings, and supply of inventory increased 92.9 percent to 2.7 months,” said Carlos A. Melendez, President of Broward, Palm Beaches & St. Lucie Realtors®. Mr. Melendez was quoted, “sellers, don’t let rising inventory levels deter you from listing your property. Yes, we have more supply entering the market, but Palm Beach County is still seeing intense competition a

Rent Still Going Up? Why? Call With Questions September 21, 2022 A recent report by Redfin showed national median rent prices increased by 14% in July 2022 over the previous year.  Redfin pointed out that rents have increased by 30% in some of the largest markets in the nation.  Redfin predicts rents will continue to increase in areas where there is strong job growth and limited housing construction.  The National Realtors Association economist, Lawrence Yun, points out that with rising mortgage rates some homebuyers have stopped looking and are becoming renters.  Reach out if you have questions about renting your property or looking to rent as it remains competitive.  You can schedule a time on my calendar on my Website https://www.mikeinboca.com/ or call me directly. Michael Friedman Realtor, Broker-Associate eXp Realty Visit Mike In Boca Youtube Channel Real Estate Agents learn more about eXp and my eXp group MikeInBoca.com

  Mission Bay Boca Raton June 2022 Information June 2022 was a busy month with ten homes sold on the MLS in Mission Bay Boca Raton. One Harbour Springs; two in Ventura; three in Reflections; and four homes sold in Sonata. I estimate the average sales price to be $710,000 in June 2022. The trailing twelve month average sales price grew by 28.4% in my estimation in June 2022 on a year-over-year basis. Home sales in Mission Bay June 2022 : 10534 Lake Vista Circle 10544 Lake Vista Circle 20507 Via Marisa 11063 Baybreeze Way 10369 Buena Ventura Drive 10314 Buena Ventura Drive 10970 Handel Place 20251 Monteverdi Circle 10976 Ravel Court 10957 Ravel Court Homes sold quickly during the month with only 21 average days to pending sale on a trailing twelve month period on June 2022 by my estimation. Your Mission Bay expert with more than a decade of experience and working full-time to help home sellers and home buyers in Mission Bay community, Boca Raton Florida area and beyond. Search for Missio

  Mission Bay Boca  Raton May 2022 Sales According to MLS data there were only three homes sold in Mission Bay Boca Raton Florida in May 2022. Two home sales took place in Regatta subdivision of the Mission Bay Boca Raton Florida community in May 2022.  The other home sold in The Isles section of Mission Bay Boca Raton. 10615 Wheelhouse Circle 10610 Bexley Boulevard 10639 Avenida Santa Ana I estimate the average sales price for these homes was $761,667.  My analysis shows approximately 28% year-over-year price increase for the trailing twelve month period in May 2022. I have an expertise in the Mission Bay community.   Give me a call if you are thinking of selling your Mission Bay Home.   You can get more information at my Website : https://www.mikeinboca.com/ Contact me to be the first to know about new homes hitting the market in Mission Bay.   You can also search for Mission Bay homes on my Website :  Call me - I am here to help you. Michael Friedman Broker-Associate, Realtor eXp R

  FL Home Inventory Up? Depends Your Real Estate Professional Florida housing inventory is up about 68% as of July 2022 over the previous year, according to an article by Jennifer Warner, economist and Florida Realtors Director of Economic Development.  However, much of the increase is within the higher price points. The amount of Florida homes on the market in the $150,000 to $300,000 range actually saw inventory drop, according to the Florida Realtors. Apparently, investors have been aggressive in this price segment and first-time homebuyers are stretching their budgets in order to come up with a down payment on homes on the lower end of the price spectrum.  Demand on the higher end of the price point seems to be impacted by the increased mortgage rates, which have limited the amount home buyers can afford.  Locally, this trend holds true as single-family homes in Boca Raton with a median sales price of $945,000 had 3.9 months of inventory as of July 2022 versus 1.6 month a yea

  Port St. Lucie Ranks High Your Real Estate Professional The Website WalletHub, which is a Web-based company that helps people with their finances, recently did a study that ranked Port St. Lucie, Florida 15th best real estate market in the United States.  The study looked at 300 different US cities and the rank was based on housing affordability and foreclosure rates, among other factors.  The newspaper The St. Lucie News-Tribune noted the study also found Port St. Lucie 5th best “Affordability and Economic Environment” nationwide.  St. Lucie County Florida’s median single family home price reached $399,000 in June 2022.  The study highlighted markets that were thought to be “good investment opportunities for long-term growth, equity and profit,” according to the article entitled “Port St. Lucie ranks 15th in US among Best Real Estate Markets study by WalletHub” in The St. Lucie News-Tribune.  I have recommended the Port St. Lucie area and have worked with several customers to buy a