It's been 6 months since we brought you an update on the real estate market in the Tequesta Country Club area so let's take a quick look at what has happened since then.

Active listings currently sit at 6 compared with 3 back in January so inventory is up 100%. Buyers have more options, but still not many. Back then there were no active listings under $1.9 million and four of today's listings are at that number or lower. Very few lower priced listings hit the market in Tequesta Country Club these days, and when they do they tend to get snapped up quickly, especially if priced and marketed properly.

Back in January, there were three homes under contract and all had been listed above $1.5 million. Today, there are 5 homes under contract and three of those were listed below $1.5 million. Two of those homes were last listed under $900,000 and both took over 40 days and a reduction in list price prior to finding a buyer. Even though sellers are still firmly in control of this market, buyers are looking closely at what they are getting, especially in the lower price ranges.

Over the past year, 45 homes have closed through the real estate community in the Tequesta Country Club area which is up from 43 in January. Median sales price has been $900,000 which is up a very significant 42% from the median sales price of $632,000 in January. Median sales price per livable square foot over the past year sits at $381, up from $313 six months ago. That represents a 21% gain.

The time it took for homes to sell, what we call days on market, had a median value of 21 days back in January, today that median number is 5, so homes are selling much, much faster in the Tequesta Country Club than they were just 6 months ago.

Keep in mind there are many factors that determine price and in the Tequesta Country Club area there is a very diverse selection of homes. Sales over the past year range in size from 1,222 livable square feet all the way up to 7,334. Year of construction ranged between 1959 and 2012. Size and location of lot, waterfront vs interior vs golf course frontage, quality of finishes and features all play a major role in any homes' value.

Current inventory, based on 12 month sales, sits at 1.6 months which is still historically very low but well up from the .84 month inventory level back in January. Overall single-family home inventory today in Tequesta sits at 1.56 months which is down from 1.72 months. In Palm Beach County current inventory of single family homes is at 1.23 months which is down significantly from the 2.03 months back in January.

The Village of Tequesta remains one of the most sought after communities in the Palm Beaches for its location, size, school zoning, access to the Loxahatchee River and a very high quality of life rating.

Paradise Sharks LOVES setting price records in the Tequesta Country Club area and last year beat one long held record by 31%. Our "Let's Set a Record Price" marketing packages are available on any home in the Tequesta Country Club neighborhood for a total commission of 3.5% and that includes a 2.5% co-broke for the buyer's broker. If a buyer's broker is not involved your maximum total commission is lowered to 2%.

We are seeing more brokers offering a 2% co-broke commission and while Paradise Sharks is not sure the market is quite ready for that, we know it is coming, and are happy to discuss this in more detail with our clients. If they want to offer a reduced co-broke the maximum total commission charged by Paradise Sharks would be 3% or less.

Don't forget, if you are looking to buy a home in Tequesta Country Club, on most transactions, Paradise Sharks gives our buyer clients a credit at closing of any co-broke commission payable on that transaction over 2%. It's our little way of saying thank you for trusting us with your business.

Complimentary consultations are easy to schedule either at 561.308.0175 or tom@paradisesharks.com.In these updates we consider the Tequesta Country Club neighborhood to be any single-family home west of the bridge and located in Palm Beach County.

Fins up……..

#tequestacountryclub

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