Email us or set-up a free appointment. We’ll work with you to develop an action plan to meet your real estate goals this year. Mortgage rates have declined more than a full percentage point since November 2018, when they hit a recent peak of 4.94%.9 The Mortgage Bankers Association predicts rates will remain low, at around 3.7%, through mid-2021.10. Real estate agents also point to low interest rates, with the current rate on a 30-year fixed mortgage dropping below 3 percent for the first time in history. He caters to the Waterfront, golf & ranch, and luxury communities here. Your name and email address are required. The Accuracy of the Trend Prediction for West Palm Beach … Broward. Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 2: This week’s mortgage rates were the second lowest in three years, supporting home buyer demand and leading to higher refinancing activity. for updates to the West Palm Beach Real Estate Market Forecast. Start your search early, and if you’re up against a deadline (like a new baby), build in plenty of time to find the right home. Required fields are marked *. Interested in buying, selling, or renting? To give you little background so that it’s easier to understand, our market is tough to predict in the fall. On Tuesday, the owner of … Their visitors then also leave on January 5th. The 30-year fixed-rate mortgage averaged 3.72% this week, compared to 4.51% at the beginning of 2019. 2020 Real Estate Forecast for 2020. by Jeff Lichtenstein – Broker and Owner of Echo Fine Properties. View recently sold homes in Palm Beach County and see average sale price, price per square foot, and number of competing offers. What does it mean for you? "Homebuyers leaving tax-burdened Northeastern states to purchase Palm Beach real estate, record-low interest rates and pent-up demand fueled last month's transactions," JTHS-MIAMI President David Abernathy said. “The low mortgage rate environment combined with the red-hot labor market is setting the stage for a continued rise in home sales and home prices.”. Palm Beach & Jupiter Country Clubs Comparison, Brooklyn water company in palm beach gardens, Emerald Key at BallenIsles homes for sale, Estates of St. Edward Homes for Sale (View All), Jupiter Inlet Colony real estate for sale, Palm Beach Country Estates homes for sale. If you’re looking to buy a home, act soon to lock in a historically low mortgage rate. In 2020, the largest cohort of millennials will turn 30, and the oldest millennials will turn 39.8, “Family changes tend to drive home-buying decisions,” explains Realtor.com Chief Economist Danielle Hale. We, the Martin Group, look forward to seeing how 2020 develops and how it fulfills the Market Forecast for the Palm Beaches and South Florida. Some organizations will update their information frequently). In response, a new model for suburban living has emerged. BEX Realty company logo. While it may not seem significant, on a $200,000 30-year fixed-rate mortgage, that lower rate means buyers could save around $145 on their monthly payment and more than $52,000 over the life of their mortgage. "It may be the hottest real estate market in the world right now," said Jay Phillip Parker, CEO of Douglas Elliman's Florida brokerage. October 2, 2020 October 1, 2020; Douglas Elliman Report released October 2, 2020. We've enhanced our client services- to help you buy or sell virtually. Slipping sales numbers could actually be good news. A balanced real estate market is where both the supply and demand for homes and condos in a particular area is roughly equal. Your personal information is strictly confidential and will not be shared with any outside organizations. Once everyone does their Costco run and plays a round of golf or has a nice dinner, they then tend to call us to see homes around January 10th. “Sunny skies ahead!”, For a free and confidential evaluation of your home’s value, please contact me at 561-346-8383 or Jeff@EchoFineProperties.com, What’s Your Home Really Worth? Browse the latest properties for sale in Palm Beach and find your dream home with realestate.com.au. Palm Beach has a median listing price of $1.5M , making it the most expensive city . Doug Martin: 561-339-3299 Here’s where experts predict the housing market is headed in 2020 and beyond. Again, West Palm Beach real estate continues to remain affordable, but nothing can match the prices offered by the distressed inventory. From Alton to Artistry to Avenier. Sold 11/25/2020. For South Florida, Realtor.com predicted a 1.1% dip in sales volume and a 1.2% drop in price. Whether you are renting, just here for the season, or a full time resident we all know that we are so fortunate to live in what is surely the nicest spot in the entire United States. WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Dec 3, 2020--Palm Beach Symphony announces a triumphant return to performing in its 47 th season. Borrowers who take advantage of these low rates can improve their cash flow by lowering their monthly mortgage payments, giving them more money to spend or save. Palm Beach off-season deals included a $70-million sale of the old Kennedy family estate and the house rocker Jon Bon Jovi bought for $43 million. Jeff your only choice for a real estate agent in the area if you're looking for the best. ft. distribution center, equipped with office space and an abundance of parking. 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