Max Mann

July 15, 2024 We are delighted to present this week's edition of Coastal Confidential, where we provide insights into the South Florida coastal real estate markets for contract activity from July 6 to July 12, 2024. Last week, 38 contracts were signed, maintaining a consistent level week-over-week but showing a slight 3% decline compared to the same period last year (one sale less). Contract activity for properties under $1M remained steady compared to the previous year, while sales above $1M saw an 11% decrease (one sale less) year-over-year. Signed contracts from Jupiter to Singer Island on Jupiter Island tripled compared to the previous year. Over 80% of the contracts signed in this submarket last week were for properties priced under $1M. The highest-priced contract signed last week was for an oceanfront spec house located at 1460 S Ocean Boulevard, featuring six bedrooms, a dock, and a pool, listed at $74.950M. There were 5 recorded sales from Hypoluxo Island to Gulf Stream, including the sale of 1 Osprey Court, a beach block estate closed at $6.9M, listed by Val Coz of Douglas Elliman. Additionally, 414 Beach Curve on Hypoluxo Island closed at $1.62M with the buyer represented by Patricia Towle of Sotheby’s. Lastly, an article in The Palm Beach Post last week, citing data from Palm Beach County Property Appraiser Dorothy Jacks, estimated the total value of Palm Beach County Real Estate to be over $514 billion, marking an impressive 10% increase from the previous year.

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OCTOBER HOUSING INDICATORS FOR GEORGIA New Listings, Closed and Pending Sales showed moderate increases year-over-year. Median and Average Sales Prices also saw modest growth, and inventory levels saw significant gains with 39 percent more units YoY. New Listings increased 14 percent to 16,773 Pending Sales increased five percent to 9,360 Closed Sales increased four percent to 9,830 Days on Market increased 50 percent to 54 days The Median Sales Price increased three percent to $360,000 The Average Sales Price increased six percent to $443,576 Inventory levels increased 39 percent to 40,077 units Months Supply of Inventory was up to 4.0 months

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7 Reasons Clients Value Timely Acknowledgment in Tampa Real Estate https://bit.ly/4dAeQHE

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AUGUST HOUSING INDICATORS FOR GEORGIA New Listings showed a moderate increase in August while Pending and Closed Sales dipped slightly. Median and Average Sales Prices stayed flat, while inventory levels saw significant gains. New Listings increased 15 percent to 18,020 Pending Sales decreased four percent to 10,069 Closed Sales decreased seven percent to 10,634 Days on Market increased 24 percent to 42 days The Median Sales Price stayed flat at $360,000 The Average Sales Price increased two percent to $437,790 Inventory levels increased 48 percent to 38,605 units Months Supply of Inventory was up to 3.9 months

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Heads Up! 📢 NAR Practice Changes Coming August 17 🏡🔑 You may have heard about the upcoming practice changes by the National Association of REALTORS®. We’re here to break down the two key updates going into effect on August 17. Swipe to learn more about these changes! If you have any questions, don’t hesitate to reach out. 😊📲 #NARUpdates #RealEstateChanges #SwipeToLearnMore #RealtorInfo #QuestionsWelcome

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CONFIDENCE IN THE SOUTH FLORIDA REAL ESTATE MARKET A shift that highlights the regions growing appeal to new talent. The South Florida real estate market is experiencing a significant surge in interest and investment. According to Ellen Buckley, founder of Prospera Real Estate, "Prior to the pandemic, I haven't seen this level of investment in South Florida," Buckley said, "People are going to college at Columbia and making an intention to work in Miami. It has flipped in terms of the desire to live and work here." While rising prices pose challenges for workforce housing, the continued high demand demonstrates South Florida's strong pull for talent from across the country. For businesses, this influx of highly skilled professionals presents both opportunities and challenges. To attract and retain this new wave of talent, its crucial to offer competitive compensation and benefits. ADP has an unbelievable amount of real-time data, paying one out of every six Americans. We can provide the insights and tools to elevate a businesses' competitive position. Contact me to further discuss. Read more at: https://lnkd.in/e6v-TBiv #RealEstate #SouthFlorida #TalentAcquisition #CompensationStrategy #BuisnessGrowth #ADPTotalSource #MiamiRealEstate #HRSoulutions #EmployeeBenefits https://lnkd.in/emRDifFA ​

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Looking for some helpful reading material? Check out our latest blog on efficient rent collection! Whether you're a renter, property owner, or property manager, these best practices will help you stay on top of rent payments and maintain a healthy financial relationship.

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Florida Is The Case Study Contact me to discuss the latest scoop in real estate! #realestate #realtor #dreamhomes #homebuyers #realestateagent #homesofinstagram #properties #homesearch #realestateinvesting #housingmarket

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Home builder confidence held steady in April, and while this ended four months of gains, sentiment remains in positive territory above the key breakeven threshold of 50. Among the index components, buyer traffic and current sales expectations ticked higher. Yet, sales expectations for the next six months softened as many buyers remain on the fence. #homebuilder #newconstruction #mbshighway #mbssocialshare #mortgagemarketnews #mortgageintheknow

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Great to see industrial activity like this.

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Fed rate cuts are here! A 50 basis point reduction could signal good news for commercial real estate, with past cycles showing improved performance in the years following a rate cut. https://bit.ly/3Y1ei6I

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Tuesday May 28 5:54PM Welcome to this weeks Coastal Confidential: A Summary of the Coastal Real Estate Contract Activity In South Florida from May 18 to May 24, 2024. Last week saw a notable increase in contract activity, with 58 sales reported, representing a 7% week-over-week surge and a 12% year-over-year jump. By price segment, the only area that experienced a decline year-over-year was under $500K, with a decrease of 4 sales. This makes sense as prices continue to rise along the beach areas. The price segment $5-10M saw a staggering year over year increase of 300%. The West Palm Beach to Lake Worth region saw the largest annual increase, driven primarily by contracts asking under $1M. **Current Market Trends:** There are currently five properties pending sale from East Boca to Manalapan, including the highly sought-after 414 Beach Curve Road on Hypoluxo Island, listed for $1.795M. The Island has also seen two recent sales, including the $1.9M sale of 110 N Atlantic Drive and the $1.18M sale of 210 SE Atlantic Drive. **Notable Contract:** The highest-priced contract signed last week was for 1010 N Lake Way, a stunning waterfront single-family home boasting a dock and pool in the North End Palm Beach neighborhood, priced at $31.5M.

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