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Palm Beach Gardens Pending Home Sales Hit New 9 Month High

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Number of homes under contract up for the 3rd straight month

Real muscle has returned to the local home buying scene over the past few months. Fueled by a very strong tourist season, higher inventory levels and lower interest rates pending home sales in Palm Beach Gardens and the surrounding areas soared once again during the month of March.

As of April 1st, the number of homes under contract in the northern Palm Beach County region is up an amazing 15% over the past 30 days. After a recent stretch of 8 straight months of declining numbers the latest performance drives the local pending home sales to the highest levels we have seen since July of last year. Even more telling is the fact that the March numbers are almost a full 9% higher than the 12 month average.

When you compare our market strength to other parts of the country it further solidifies what we who are lucky to live here already know. South Florida is a very special place. It was just five days ago that USA Today published an article titled "Contracts to buy homes fall for the 8th straight month". No doubt the mainstream press is full of old and outdated information but the differences between home sales in paradise and the rest of the country tell the real story.

Fins up.........

Tom Priester
Principal Broker

Paradise Sharks Real Estate