Here is a line of people, some with chairs, waiting for something special.
The new iPad?
The new iPhone?
Tickets to see the Rolling Stones?
No they are waiting to buy a new home in Valencia Cove in Palm Beach County. $ 35 million dollars worth of as yet unbuilt homes were sold in just 2 hours. There was even a lottery for the choicest home sites, also called a lot premium.
The real estate market here is hotter than during the boom of the early 2000's. This past weekend I attended an open house on Sunday at a home that had just been put on the market Saturday evening. There were 7 showings, 4 offers and 1 above the asking price. I was at another open house were 70 people came the house sold the first day. Inventory levels are very low and there is practically panic buying. In some of our most popular communities homes sell in a matter of hours. If you put your house on the market in one of these communities you better have moving boxes in the garage. West of town in Jupiter Farms there number of homes on the market has risen but so have the prices. The least expensive house is now $ 210,000.
You can see all homes for sale in Palm Beach County by visiting the official website for the Multiple Listing Service. And you will not have to log in or create an account unless you want to. Or for personal service, you can contact me, Richard Sites, at 561-762-4073.