There's always uncertainty in the world, but there's always demand for housing. Here's what we're seeing right now in Palm Beach and why the long-term picture still looks strong.

With everything going on in the world right now, a lot of people are wondering what it means for the real estate and housing market here in Palm Beach. As many of you know, there's some uncertainty out there internationally, and that's nothing new. Our world has always had its ups and downs, and our real estate market has always had its ups and downs right along with it.

But here's the bottom line: there's always going to be a need and an interest for housing.

Laurie has been in the real estate industry for over 25 years. One community in particular, Stonebridge Country Club, she's been selling homes there for 25 years. Twenty-five years ago, the average home there would sell for about $300,000. That same home now is well over a million dollars. Just like the stock market, there are ups and downs along the way, but the long-term trajectory has always been up.

Dan has seen the same pattern play out over the last 12 years in Florida. A home in a country club community that was purchased in 2014 traded in 2020 for about the same price. Then six years later, it sold for four times the amount. That's the nature of the market we're in right now.

“There's always going to be a need and an interest for housing. The bottom line doesn't change.”

What we're seeing right now in Palm Beach is encouraging. Our partners in New Jersey are telling us that every home that's listed is getting multiple offers with limited supply and tremendous demand, with buyers going over asking, waiving contingencies, and waiving appraisals. We're starting to see that same energy build down here as well. We're getting multiple bids on our listings when they're priced right, buyer demand is increasing, and the competitiveness among buyers is picking up. Interest rates went up for about five weeks, then they came back down again.

Whether it's interest rates, inflation, or geopolitical factors, there's always going to be something creating uncertainty. But Palm Beach continues to attract primary residents moving down, second-home buyers, investors, and Wall Street professionals. The demand is here.

If you have questions about what's happening in the market or how any of this affects your situation, we have answers. Reach out anytime at 561-843-4464 or visit tkgmarketexperts.com. We'd love to help.