Category: Latest Posts

Palm Beach County has split into two markets: single-family homes still favor sellers, while condos now give buyers more time, leverage, and negotiation room.
Single-family supply sits near ~3-4 mo versus ~7 mo for condos, and houses go under contract in ~40 days compared with ~69.
Well-priced houses can still draw multiple offers and usually close near the mid-90% of original list price, while condos land closer to the low-90%.
Older condos face more pressure as reserve-study rules push up dues or special assessments, financing tightens, and >half of Palm Beach County purchases close cash.
Single-family inventory remains tight with ~24% fewer listings yearly, yet buyers stay price-sensitive; accurate pricing still matters, and condo choices hinge on building finances.

Florida's Late-Q3 housing market stayed relatively stable as higher mortgage costs weighed on sales, but prices held steady and luxury activity stayed strong.
Single-family closings statewide slipped ↓~4% yearly in Late-Q3, while condo and townhouse sales were essentially flat, with only eight fewer transactions than a year earlier.
Pending activity softened too: new single-family contracts fell >7.5%, and condo-townhouse pending sales dipped ↓~4%, suggesting buyers reacted to higher borrowing costs.
Prices held fairly steady statewide in Late-Q3: single-family median hit $415K after seven straight yearly gains, while condo-townhouse median dipped ↓~2% to $293.5K.
Heading into Early-Q4, Florida's market lost momentum, and an expert said the wider mortgage-rate gap could keep sales subdued for another month or two.

In Q3 2026, Florida existing sales stayed steady: single-family closings ↑0.2% yearly to 65.9K, while condo-townhouse closings ↑3.1% to 22.7K statewide overall.
Across Florida in Late-Q3, single-family closed sales reached 20.5K, ↓3.5% yearly, while condo-townhouse closings were 7.2K, essentially flat at ↓0.1% statewide overall.
Prices stayed relatively steady in Q3: single-family median reached $420K, ↑2.4% yearly, while condo-townhouse median held at $295K; supply measured 4.4 mo and 7.7 mo.
Market activity moved at a more measured pace, and homes generally sold faster than a year earlier, reinforcing the value of preparation and realistic expectations.
Heading into Q4 2026, an economist said higher mortgage rates weighed on sales, especially single-family, yet inventory stayed stable and upper-end activity performed well.

A Florida insurer announced avg. homeowners premium cuts >20% for new and existing policyholders in Miami-Dade, Broward, and Palm Beach, marking its biggest state reduction.
State regulators also approved cuts for four more insurers, affecting ~62K Florida policies with an avg. reduction ~7%, extending relief beyond South Florida.
Approved statewide discounts ranged from ~10% to ~3%, and recent Florida reduction requests averaged ~5%, signaling momentum for more statewide premium relief.
Discounts were not automatic or universal; they depended on insurer, county, and renewal timing. Florida officials urged homeowners facing increases or flat renewals to compare.
Florida officials expected more aggressive premium cuts into 2027 as additional reduction requests arrived, reinforcing market conditions that had improved over the past two years.

Sellers often benefited from a REALTOR®, realistic pricing based on recent neighborhood comps, and a clean, updated home that showed well to buyers.
In Florida, renovations could help listings compete, and one agent said homes with pools tended to sell faster when priced within local range.
Buyers were urged to stop waiting for ultra-low mortgage rates, stay open to negotiation, and consider seller concessions that could help lower costs.
Another key message: choose the home that fits your life, not just the rate, because refinancing later may remain an option for some.
Florida buyers also had more room to wait for the right fit, and condos offered a lower-priced path than single-family homes for ownership.

In ~3 weeks, Florida voters decide Question 3. Approval lifts the homestead exemption from $50K to $150K in 2027, then $250K in 2028.
The outgoing governor estimated the change could erase property taxes for ~60% of homeowners, but the measure needs ~60% voter approval to pass.
One gubernatorial candidate backed reform with a plan to replace lost local revenue, while the other opposed Question 3 and favored a first-time buyer exemption.
The benefit would apply only to permanent residents. Future Florida movers would wait 5 yr, while nonschool assessed-value growth stayed capped near ~5%.
Experts said buyers should weigh tax savings against possible service shifts, while one forecast estimated values could jump ~7%-9% if property taxes disappeared.

Halloween falls on October 31 because the ancient Gaelic festival of Samhain, considered the earliest known root of Halloween, occurred on this day.
In the eighth century, Pope Gregory III designated November 1 as a time to praise all saints.
Soon, All Saints' Day incorporated some traditions of Samhain and the evening before was known as All Hallows Eve, and later Halloween.
Over time, Halloween evolved into a day of activities like trick-or-treating, carving jack-o-lanterns, festive gatherings, donning costumes and eating treats.
Today’s the day to eat candies and sweets to your heart’s content! Happy Halloween!

Delray Beach posted yearly price gains across both single-family homes and condo/co-ops, showing broad-based strength in the latest third-quarter market locally overall.
Single-family sales ↑~10% to 65, while median and avg. prices each ↑~14%, reaching $2.0M and $2.7M in Delray Beach for the quarter.
Condo/co-op sales eased, but pricing strengthened: median ↑~32% to $615K and avg. ↑~44% to $681K, with seven in ten closings above $500K.
Supply stayed tight in Delray Beach, with single-family listings ↓~27% to 114, the lowest third-quarter count since 2023, while condo/co-op inventory ↓~17%.
Condo/co-op inventory ended the quarter at 65 listings, capping a period when Delray Beach recorded higher prices in both major housing categories.

Preparing early before photos, showings, and buyer visits gives Florida sellers time to spot concerns, organize records, and decide which repairs deserve attention.
Start with everyday maintenance like leaking faucets, damaged flooring, broken appliances, and sticking doors, since buyers may read small problems as deferred upkeep.
Review major systems like roof, plumbing, electrical, and air conditioning, because Florida heat, humidity, heavy rain, and storms can expose existing weaknesses.
Gather records on repairs, renovations, permits, warranties, claims, and system replacements, and understand disclosure duties for defects that materially affect value and stay hidden.
Check moisture history, curb appeal, and likely inspection issues early; accurate roof and claims records can ease buyer questions and leave more time before negotiations.