Today's Hot Headline - MILLIONS of buyers will enter the real estate market in 2021. 

Hi everybody,  It’s Joe Hillner with Your Home Sold Guaranteed Realty, where we guarantee the sale of your home, or I’LL buy it! 
Ok, so every week, I share market data to keep you informed with the local real estate market.  Here is this week’s Boca Market Watch.

First, Single Family Homes:

This past week, a  good week with 68 new homes on the market, ranging from $269,000 to  $14.5 Mil! Only 16 homes back on the market, while 19 homes listed took a price decrease, and 10 sellers raised their asking price; in total, pretty few. 44 different properties went under contract, and 232 went pending, kind of a quiet week, but that's because everything got absorbed last week! 

And only 12 homes were unsuccessful in selling and were taken off the market or the listing expired outright, the lowest I've ever seen!  63 homes were sold in the past week, a good week, and those home sales ranged from $285K to $12.1M.  

 Here are the stats for Condos and Townhomes:

91 new listings, a good week, and ranging from $71 Grand to $3.4 Million.  
24 units came back on the market, 37 properties with a price decrease, and 18 sellers with an increase.  47 different properties went under contract, and 45 went pending - that's about a normal week for condos!  And 26 condos or townhomes were unsuccessful in selling and were taken off the market or the listing expired - like single family homes, very few.  98 closed sales this week, in line with last week, and ranging in price from $40 Grand to $3.2 M!

Here's what's making news right now.  

A new Zillow survey released by Homewise.com says that as the pandemic dust settles, millions of additional Americans will enter the housing market.  In what will be known to future generations as the Great Reshuffling, the report says that more than 1 in 10 Americans reported moving in the past 12 months, either by choice or by circumstance. And now, with the COVID-19 vaccine circulating and the economy slowly regaining strength, researchers say millions of additional households could enter the housing market in 2021.  

Among the surveyed movers, approximately 75% reported moving for positive reasons, such as being closer to family or friends or living in a desired part of the country. And where do many of them want to be?  Yep, right here in our back yard!

Per Zillow, more than half of the movers said they experienced happiness (54%) and relief (53%) following their move, with nearly 80% saying the move was the correct decision. And approximately 60% said the move led to positive life events, such as a bigger home, a cheaper mortgage, and new experiences in a new city and state. 

So if we're going to have even more permanent inflow into our area, where are they all going to live?  That IS the question, isn't it.  And the simple answer is, we don't have enough housing to offer them, at any price.  But that additional demand will only continue to put upward pressure on prices into the forseeable future.  

People I meet will typically say something like, "you must be loving this market!"  And my answer is quite the opposite. 
 It's extremely stressful for buyers because they have to try and outbid tons of other buyers just to get a deal.  And potential sellers are afraid to put their house on the market because they know it'll sell so fast that they can't find a replacement and might end up homeless. With such crazy demand and so little supply, it's just hard on everyone. 
But that's the market we have, so  it means getting creative and using technology in ways that we never have before.

By the way, if you're a buyer in Canada or the UK, and you're looking to buy property down here in FL, but travel restrictions are preventing you from coming down, we have a simple solution.  After a thorough interview with the prospective client, so I can get a clear understanding of what the perfect home looks like, I personally select homes matching that description, both online and off market, and send them by email.  Once you review and rank order them, I'll do a live video broadcast from your top choice property and give you a thorough, narrated tour.  This will include not only the home and grounds, but the neighborhood and a short drive around to the closest points of interest.  This will make your decision easy and confident.  And using technology, all of the transaction details can be handled electronically. For any parts of the process requiring hands on involvement, like the inspection for example, I will be present as your representative.  Online real estate is something we offer in all aspects of the transaction. If you'd like to hear more about this free service, just reach out to us at 561-609-0657.  And if you would like to read reviews from other clients who've taken advantage of this service, please go to my Google My Business page
Your Home Sold Guaranteed Realty Services: Joseph Hillner.