The condominium market on Singer Island remains very strong with 259 sales over the past year. However, as of this morning we have 193 units on the market and I hope that yours is already under contract. Inventory levels, unlike the overall market, are quite high at 8.9 months which signifies a buyer's market. To date in 2015, the median sales price of a condo on Singer Island has been $391,000. Compare that to the $415,00 that was the median sale price in 2014 and you see median prices realized are actually down year to date.
Buyers and sellers, in any market, need to be educated and have all the information to make an informed decision as mistakes in real estate can be very expensive. Sales throughout the Northern Palm Beaches will continue to slow this summer but with inventory levels still historically low prices still should start to stabilize. Watch the overall economy and if it stays strong real estate prices in the area should also continue to climb.
Paradise Sharks Real Estate