IS NOW THE PERFECT TIME TO BUY?

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Hi everybody, Joe Hillner with Your Home Sold Guaranteed Realty, where we guarantee the sale of your home or I'll buy it!

I share market data weekly to inform you about the local real estate market.

Here is this week’s Boca Market Watch.
 

Single Family Homes

This past week, 41 new listings, back in the dumps, and ranging in price from $400K to $17M!
48 different properties under contract, and 26 going pending, up a little from last week. Once again, purchase mortgage loan applications dropped for now the fourth week in a row - not a sign of good things to come. And another terrible week with just 38 homes sold, ranging from $385K to $3M! It's a tough market out there folks!
 

Condos and Townhomes

75 new listings, that's up three weeks in a row, and ranging from $135 Grand to $3.5 Million. And a so so week with 48 different properties under contract, and 40 going pending. Only 54 closed sales this week, not good at all, and ranging in price from $100K to $1.6M.
 

What does all this mean?

In a recent poll, only 1 in 5 people thought that it's a good time to buy right now! Obviously, those feelings reflect the high prices and interest rates out there. But if one digs into the demographic populations shifts, lack of inventory, lack of land to build on and the slowdown in construction starts, if you're thinking about buying, you're much better off doing it sooner rather than later. Food for thought...