Palm Beach Home Sales Market Statistics
First, let’s look at the character and composition of the real estate market in Palm Beach County. The facts may surprise you. Certainly they will enlighten you and help you better understand the conditions that must be contended with when selling your home.
Each year in Palm Beach County there are an average of:
• 50,000 new listings entered into the Multiple Listing Service (MLS); plus a
• Carryover inventory of unsold homes from the previous year of approximately 13,000 listings.
• This creates a total annual inventory of about 63,000 listings. (100%)
• Of these, only about 33,000 are actually sold. (52%)
• Of the remaining 30,000 Unsold listings (48%), an average of
•7,000 Expire unsold (11%); and another
•10,000 are Cancelled (16%) by the seller without a sale.
• Leaving a remainder of 13,000 (21%) Active, Unsold listings carried into the next year.
Each year, 48% of the listings languish on the market. A huge and unacceptable percentage. But take heart that the other 52% sell. That is the club you want to join . . . the “52% club.”
How do you resign from the 48% club and join the 52% club? It’s not really that hard, but everyone needs a “Sherpa” to be guided safely through otherwise treacherous passages and cliffs. [Sherpa are a Tibetic ethnic group native to the most mountainous regions of Nepal, China, Bhutan and India, the Himalayas.] Even the most experienced, expert climbers hire a Sherpa to keep them safe from unseen perils.
SUMMARY: Nearly One-Half of all Listings (48%) Do Not Sell.
We can tell you why, and more importantly, how You can avold ending up in this group!
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