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Hobe Sound, FL Real Estate News

By Tom Priester, Paradise Sharks
(Paradise Sharks )
June Home Sales in Hobe Sound Drop 17%   Single family home sales were all over the board in the north county region with towns like Jupiter having another record sales month while in the neighboring village of Tequesta sales dropped significantly for the second straight month to the lowest levels we have seen in four months. No doubt the limited inventory of well priced homes is affecting sales volume but overall it was another strong month in the local real estate market.   New home sales have been brisk and we must keep in mind that many sales in new home communities do not show up in our Multiple Listing Service. Take a trip to communities like DiVosta’s Windsor Park or Lennar’s Rialto and you will find very limited inventory of available lots and long built times. As demand from bu...
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By Gabe Sanders, Stuart Florida Real Estate
(Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales)
Hobe Sound Florida Market Report ZIP Code 33455 Condo, June 2013   Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for June 2013   For June 2013 in the 33455 Zip Code area of Hobe Sound, Florida :   There are currently 19 active condo listings. (Down by 2 condos from May)   10 Condo sales are pending and awaiting close or lender approval. (Up by 5 condos from May)   0 Condos sold in June (Down 4 condos from May)     The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market.  There were no sales for condos in June, whoever pending sales doubled to 10 units. Inventory is only 19 units making meaningful interpretation of this market fairly meaningless with such low numbers in this segment of the Martin County condo market....
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By Gabe Sanders, Stuart Florida Real Estate
(Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales)
Hobe Sound Florida Market Report ZIP Code 33455  Residential, June 2013   Hobe Sound Real Estate Snapshot for ZIP Code 33455, Residential Sales for June 2013  For June 2013 in the 33455 Zip Code area of Hobe Sound, Florida :   There are currently 248 active listings. ( Up by 20 home from May)   107 Residential sales are pending and awaiting close  (An increase of 2 home from May)   37 Homes Sold in June (Down by 13 home from last month)   Sales were off by 13 homes from a very strong May in the Hobe Sound Florida Market Report ZIP Code 33455 section of Martin County.  The inventory increased as sellers are realizing that some of the best conditions exist in many years for a successful home sale.  Pending numbers remained strong, decreasing by only 1 home. The current absorption rate fo...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Home Inventory in Hobe Sound Drops another 4% Buyers throughout Palm Beach and Martin Counties continue to be frustrated with the lack of selection while out shopping for new homes. And options in most new home communities are not any better with limited lot availability and build times in some communities exceeding 12 months. Many sellers are opting to price their properties “ahead of the market” and we are seeing more and more price reductions as many of these sellers are not getting bites at the higher listing prices.   So much talk is surrounding interest rates and how they will affect the real estate market which everyone acknowledges has been the driving force behind the overall economic recovery in America. As inventory continues to shrink and prices continue to rise homeowners f...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Absorption rate in Hobe Sound down to 7.27 months It has been another month since we updated our readers on the latest real estate absorption rates in the northern county region. Median prices for single family homes in Palm Beach County are up almost 30% compared to year ago numbers, sales are up almost 15% during that period and inventory is down almost 45%. Pending sales, those homes that are under contract, continue to climb and absorption rates continue to decline. It seems like nothing can stop this locomotive train as the real estate market continues it’s amazing turn-around.   Interest rates are the most obvious choice when looking for a sign that could reverse the trend that seems so firmly in place. Last week marked the ninth straight week of increases taking the average overn...
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By Gabe Sanders, Stuart Florida Real Estate
(Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales)
Hobe Sound Florida Market Report ZIP Code 33455 Condo, May 2013   Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for May 2013   For May 2013 in the 33455 Zip Code area of Hobe Sound, Florida :   There are currently 21 active condo listings. (Unchanged from April)   5 Condo sales are pending and awaiting close or lender approval. (Decreased by 2 condos from April)   4 Condos sold in May (Down 1 condos from April)   The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market.  Sales were only 4 units for May and pending sales were off slightly.  Meaningful interpretation of this market is fairly meaningless with the low number of available condos for sale. The one month absorption rate jumped to 5.25 months, signifying a r...
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By Gabe Sanders, Stuart Florida Real Estate
(Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales)
Hobe Sound Florida Market Report ZIP Code 33455  Residential, May 2013   Hobe Sound Real Estate Snapshot for ZIP Code 33455, Residential Sales for May 2013  For May 2013 in the 33455 Zip Code area of Hobe Sound, Florida :   There are currently 228 active listings. ( Up by 1 home from April) 105 Residential sales are pending and awaiting close  (A decrease of 1 home from April) 50 Homes Sold in May (Down by 1 home from last month)   Strong sales activity for a third month in a row for the Hobe Sound Florida Market Report ZIP Code 33455 section of Martin County.  Numbers for May were almost identical for April. The current absorption rate for the Hobe Sound Florida Market Report ZIP Code 33455 inched up to 4.6 months from the 4.5 of last month.  Hobe Sound is now a strong seller’s market...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
May Home Sales in Hobe Sound up by 3%   As we sit here with only a week we go until we flip the page to July the south Florida real estate market remains quite vibrant. Constantly changing, it is that time to look back on the final sales number for the previous month to see just what has happened since our last report. No doubt inventory levels remain a main topic around the water coolers of brokerage offices throughout Palm Beach and Martin Counties.   But there is other news and perhaps the most significant when it comes to the future direction of the market relates to interest rates. This morning we wake with the average overnight rate on a 30 year fixed mortgage hitting levels we have not seen for an amazing 94 weeks. Sitting at 4.24% we are up a very significant 22 basis points fro...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Home Inventory in Hobe Sound Hits Another New Multi-Year Low Another month has passed us by with the South Florida real estate recovery continuing to move forward seemingly with no obstacles in its way. Another month of extremely strong sales was followed by signs that absorption rates had increased but the big news on everyones radar has been interest rates. If you haven’t followed what has happened to rates since our last update on home inventory in Hobe Sound and the surrounding communities then it is time to take notice.   What has transpired since then has been remarkable with the average overnight rate on a 30 year fixed mortgage moving higher by a rather stunning 22%. During the past month those rates have moved from near records lows at 3.42% to 4.16% as of this morning and the ...
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By Gabe Sanders, Stuart Florida Real Estate
(Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales)
Hobe Sound Florida Market Report ZIP Code 33455 – Condo, April 2013   Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for April 2013   For April 2013 in the 33455 Zip Code area of Hobe Sound, Florida :   There are currently 21 active condo listings. (Down 1 condo from March)   7 Condo sales are pending and awaiting close or lender approval. (Decreased by 2 condos from March)   5 Condos sold in April (Up 3 condos from March)   The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market.  Sales were up to 5 units for April (over double from March) and pending sales were off slightly.  Meaningful interpretation of this market is fairly meaningless with the low number of available condos for sale. The one month absorption rat...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Absorption rate in Hobe Sound sits at 7.55 months Memorial Day is in the rear view and that means summer has arrived in South Florida. Buyers are hoping that inventory levels of homes available for sale increase as many are frustrated at the lack of choice available in today’s markets. What was a fever will heat up even more if interest rates do not back off from the increases we have seen over the past couple months. As of this morning the average overnight rate on a 30 year fixed mortgage sits at 3.75% which is up almost 10% from where we stood just 3 short weeks ago. After three straight weeks to the upside most are looking for those rates to back off a bit this week and time will tell.   Each month at this time we take a look at the absorption rate in Hobe Sound and the surrounding ...
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By Gabe Sanders, Stuart Florida Real Estate
(Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales)
Hobe Sound Florida Market Report ZIP Code 33455 – Residential, April 2013   Hobe Sound Real Estate Snapshot for ZIP Code 33455, Residential Sales for April 2013  For April 2013 in the 33455 Zip Code area of Hobe Sound, Florida :   There are currently 227 active listings. ( A decrease of 22 homes from March) 106 Residential sales are pending and awaiting close  (An increase of 6 homes from March) 51 Homes Sold in April (Up 6 homes from last month)   Strong sales activity for a second month for the Hobe Sound Florida Market Report ZIP Code 33455 section of Martin County.  Inventory levels dropped significantly for the month after a slight rise last month.  Pending sales were up.  With such low numbers of available homes on the market, activity might slow in the coming summer months. The ...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
April Home Sales in Hobe Sound Up 7% Another month has passed us by and the summer months are staring us straight in the face. This means less traffic at our favorites beaches and restaurants but also the start of hurricane season which we pray is a quiet one. We want to remind our neighbors to always be prepared as the numbers are starting to work against us. A major hurricane is one with winds of more than 111 miles per hour and the last time one crossed into our country was way back in 2005. This is the longest stretch since records have been kept and add in the fact that the Atlantic waters have warmed considerably over the past few months and you see why experts are predicting a 72% chance that a major hurricane will make landfall in the US this year.   So while traffic at the beac...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Home Inventory in Hobe Sound Down 3% in May The amazing turnaround in the local real estate markets continues unabated with no end in sight. New home communities are jammed with anxious buyers who have been unable to find suitable properties in the resale market and prices continue to rise. The broad based recovery continues to pick up steam and last months sales were amazing considering the lack of choices many buyers face. We are seeing a bit more confidence in the job market as last months government reports showed a sharp turnaround driving more and more buyers to the market to take advantage of interest rates that were testing record lows last week before spiking 11 basis points so far this week.   Nationwide we are seeing similar statistics with CoreLogic reporting this week that ...
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By Gabe Sanders, Stuart Florida Real Estate
(Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales)
April 2013 Market Report for Osprey Cove in Hobe Sound There are currently 6 homes for sale in Osprey Cove in Stuart, FL.  Listing prices range from $499,000 to $694,900 for an average price per square foot of living area of $211.86. There are no homes currently under contract in Osprey Cove. In the past 12 months, 3 homes have sold with sales prices ranging from $205,000 to $369,000 at an average of $165.94 per sq. ft. of living area.   Osprey Cove in Hobe Sound, Florida is a waterfront community off of Gomez Avenue in the vibrant Hobe Sound area of Martin County, Florida.  It is also known as the Osprey Cove Yacht Club and boasts 32 deep water boat slips just off the Intracoastal Waterway.  There are only 86 homes in this gated community that broke ground in late 2000 with homes being...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Absorption rate in Hobe Sound sits at 6.48 months May has arrived in South Florida and the dynamic real estate market shows no signs of slowing with inventory of well priced homes continuing to fall. Sales have been spectacular and pricing pressure remains firmly to the upside. If you happen to be looking for a home anywhere in Palm Beach and Martin Counties you know all too well how difficult that task can be.   The overall economic picture remains somewhat unsettling with signs that it may be weakening; even the Fed in their statement this week said fiscal policy is restraining economic growth. Concern that tax increases and spending cuts are slowing any growth in the economy is growing. The last jobs report was plain dismal with only 88,000 jobs added in March compared to the pace of...
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By Gabe Sanders, Stuart Florida Real Estate
(Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales)
Hobe Sound Florida Market Report ZIP Code 33455 – Condo, March 2013   Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for March 2013   For March 2013 in the 33455 Zip Code area of Hobe Sound, Florida :   There are currently 22 active condo listings. (Up by 4 condos from February)   9 Condo sales are pending and awaiting close or lender approval. (Unchanged from February)   2 Condos sold in March (Down 2 from February)   The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market.  We had a small increase in inventory making the number of available condos go up to 22.  Sales were off and pending sales remained unchanged. The one month absorption rate jumped to 11months, signifying a return to a buyer’s market.  Generally, ...
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By Gabe Sanders, Stuart Florida Real Estate
(Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales)
Hobe Sound Florida Market Report ZIP Code 33455 – Residential, March 2013   Hobe Sound Real Estate Snapshot for ZIP Code 33455, Residential Sales for March 2013  For March 2013 in the 33455 Zip Code area of Hobe Sound, Florida :   There are currently 249 active listings. ( An increase of 5 homes from February) 100 Residential sales are pending and awaiting close  (A decrease of 9 homes from February) 45 Homes Sold in March (Up 17 homes from last month)   Strong sales activity for the Hobe Sound Florida Market Report ZIP Code 33455 section of Martin County.  Inventory levels remain low, but did increase slightly for this month.  Pending sales were off for March.  With such low numbers of available homes on the market, activity might slow in the coming summer months. The current absorpti...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
March Home Sales in Hobe Sound Up 59% Stunning. That single word can describe the sales activity in the northern Palm Beach County region for the month ending April 1st. We all know too well about the shortage of inventory that has been the top story for many months. Buyers are everywhere but well priced homes in good condition are tough to find and eager shoppers have made their way to new home communities where sales are brisk. Builders too are quickly running out of lots and we have seen prices in new home communities increase dramatically over the past 6 months. Keeping in mind that most of these new home sales do not make it to the numbers reported by our Multiple Listing Service make this months report even more stunning.   Buyers are frantic and prices are being driven higher on ...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Home Inventory in Hobe Sound Up 1% in April Another month has rolled by and frustrated home buyers are on every corner in south Florida. Finding a home is not an easy task and even a well defined game plan needs a bit of luck to meet with success. The plain truth is there just are not enough homes out there to meet current demand and prices continue to move higher. This week we had a client arrive ready to start their south Florida life and is a great example to show you exactly what it is like on the front lines.   Their needs were clearly defined, both doctors with two young sons and the school district already decided after meetings with school staff were completed. Their budget is generous, over $500K, and they simply required a 4 bedroom home and would prefer newer construction. Be...
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