All Forum Posts by: Jacopo Iasiello

Hi Katie, sure! let's talk about it! 

Hi guys! I'm also an investor/broker in Florida. I'm excited to know how's your journey so far? I would also love to have small talks and connect!  

im also interested

Palm Beach Real Estate: A Closer Look at June 2024

Single Family Homes: A Dynamic Market

Closed Sales: Palm Beach experienced 1,269 closed sales of single-family homes in June 2024, an 11.13% drop from June 2023's 1,428 sales. This dip is part of the natural ebb and flow of the market, reminding us that real estate always has its highs and lows.

% Paid in Cash: Cash sales accounted for 43.1% of transactions, slightly up from last year's 42.9%. This shows that almost half of buyers still prefer the confidence and speed that cash offers bring to the table.

Median Sale Price: Here’s some uplifting news—median sale prices climbed by 5.60%, reaching $659,999. This growth reflects strong demand for single-family homes in Palm Beach.

Dollar Volume: The total dollar volume decreased by 5.1%, coming in at $1.45 billion. While this might seem like a setback, it offers savvy buyers a chance to find value and negotiate better deals.

% of Original List Price Received: Sellers received 95% of their original list prices, down slightly from last year. This minor dip suggests there’s a bit more room for negotiation.

Median Time to Contract: Homes are taking longer to sell, with a median of 35 days to contract compared to 26 days last year—a 34.62% increase. This indicates buyers are taking their time to make decisions.

Median Time to Sales: The total median time to sales rose by 9.59%, from 73 days to 80 days. Deals are taking a bit longer to close, reflecting a more deliberate market.

Active Inventory: Active inventory surged by 47.84%, with 5,170 homes available compared to 3,497 last year. This increase provides more choices for buyers and encourages competition.

Months Supply of Inventory: Inventory supply jumped by 50%, from 3.0 to 4.5 months. This boost indicates a stabilizing market with ample opportunities for buyers.

Townhomes & Condos: Shifting Trends

Closed Sales: The townhome and condo market saw a significant decline, with 868 closed sales—a 27.9% drop from last year's 1,204. This shift may signal changing buyer preferences or market adjustments.

% Paid in Cash: Cash purchases made up 60.0% of sales, down slightly from 61.4%. Despite this small drop, the strong presence of cash buyers reflects continued confidence in the market.

Median Sale Price: Prices held steady at $325,000, showing resilience in the condo and townhome market.

Dollar Volume: The total dollar volume decreased by 30.2% to $462.39 million, suggesting fewer high-value transactions compared to last year.

% of Original List Price Received: Sellers received 92% of their original list prices, down from last year's 96%, indicating minor shifts in negotiating power.

Median Time to Contract: The median time to contract increased by 76.9%, from 26 days to 46 days. This longer period may reflect more buyer deliberation or a cooling market.

Median Time to Sales: The total median time to sales rose by 25.4%, from 71 days to 89 days, reinforcing the trend of longer decision-making periods.

Active Inventory: Inventory levels soared by 81.6%, with 6,522 units available compared to 3,592 last year. This substantial increase offers more choices for buyers, fostering a competitive market.

Months Supply of Inventory: The supply of inventory nearly doubled, jumping by 97.2%, from 3.6 months to 7.1 months. This rise points to a more balanced market with ample opportunities for buyers.

Practical Advice and Actionable Insights

For Buyers:

• Leverage Inventory Increases: With more homes on the market, buyers have a wealth of options. Use this advantage to find the perfect property and negotiate favorable terms.
• Consider Cash Offers: Even with a slight dip, cash transactions remain strong. If possible, making a cash offer can provide an edge in negotiations and speed up the closing process.

For Sellers:

• Price Competitively: To attract buyers in a competitive market, ensure your property is priced right. Competitive pricing can lead to quicker sales.
• Highlight Unique Features: With increased inventory, make your property stand out by showcasing unique features and upgrades that appeal to buyers.

Market Outlook:

• Stability and Growth: The market shows stability with moderate growth in single-family home prices and significant increases in active inventory. This indicates a healthy environment for both buyers and sellers.
• Adapting to Trends: The longer time to contract and sales for townhomes and condos suggests a more thoughtful buying process. Stay informed and patient to navigate these trends effectively.

Concluding Message

The Palm Beach real estate market is brimming with opportunities for both buyers and sellers. Every market shift brings new possibilities, so embrace these changes with optimism and confidence. As Zig Ziglar famously said, "You don't have to be great to start, but you have to start to be great." Let's move forward with determination and seize the opportunities that lie ahead.

A Closer Look to Broward Single Family Homes

Closed Sales: In June 2024, Broward County witnessed 1,138 closed sales of single-family homes, reflecting a 9.4% drop from 1,256 sales in June 2023. This dip is just a part of the market's natural rhythm, reminding us that real estate has its ups and downs.

% Paid in Cash: Cash transactions made up 22.8% of sales, a slight decrease from last year's 26.1%. Even with this decline, nearly a quarter of buyers are still paying in cash, which shows strong confidence in the market.

Median Sale Price: Here’s a silver lining—median sale prices rose by 4.1%, reaching $640,000. This increase highlights the ongoing demand for single-family homes in Broward County.

Dollar Volume: Dollar volume saw an 8.5% decrease, totaling $945.63 million. While this drop might seem concerning, it also signals opportunities for buyers to find value in the market.

% of Original List Price Received: Sellers received 96% of their original list prices, down slightly from last year. This small decrease suggests there’s a bit more room for negotiation.

Median Time to Contract: Homes are taking longer to sell, with a median of 27 days to contract compared to 19 days last year—a 42.1% increase. This indicates buyers are taking their time to make decisions.

Median Time to Sales: The total median time to sales increased by 11.7%, from 60 days to 67 days. Deals are taking a bit longer to close, reflecting a more thoughtful market.

Active Inventory: Active inventory rose significantly by 55%, with 4,379 homes available compared to 2,826 last year. This increase provides more choices for buyers and drives competition.

Months Supply of Inventory: Inventory supply jumped by 59.3%, from 2.7 to 4.3 months. This boost indicates a stabilizing market with ample opportunities for buyers.

Broward Townhomes & Condos: Trends and Insights

Closed Sales: The market for townhomes and condos experienced a significant decline, with 1,068 closed sales—a 27.1% drop from last year's 1,466. This change highlights shifting preferences or market adjustments.

% Paid in Cash: Cash purchases made up 51.8% of sales, down slightly from 53.8%. Despite this small drop, more than half of transactions are still cash, reflecting strong market confidence.

Median Sale Price: Prices held steady with a slight increase of 2.7%, reaching $287,500. This stability shows resilience in the condo and townhome market.

Dollar Volume: Dollar volume saw a 23.4% decrease to $406.02 million, suggesting fewer high-value transactions compared to last year.

% of Original List Price Received: Sellers received 94% of their original list prices, down from last year's 96%, indicating minor shifts in negotiating power.

Median Time to Contract: A significant change here, with the median time to contract increasing by 73.1%, from 26 days to 45 days. This longer period might reflect more buyer deliberation or a cooling market.

Median Time to Sales: The total median time to sales rose by 29.4%, from 68 days to 88 days, reinforcing the trend of longer decision-making periods.

Active Inventory: Inventory levels soared by 108.3%, with 8,938 units available compared to 4,291 last year. This substantial increase offers more choices for buyers, promoting a competitive market.

Months Supply of Inventory: The supply of inventory jumped by 132.4%, from 3.4 months to 7.9 months. This significant rise points to a more balanced market with ample opportunities for buyers.

Practical Advice and Actionable Insights

For Buyers:

• Leverage Inventory Increases: With active inventory rising significantly for both single-family homes and townhomes/condos, buyers have more choices. Use this to your advantage to find properties that meet your needs and negotiate favorable terms.
• Consider Cash Offers: While cash transactions are down, they still make up a strong segment of the market. If you can, making a cash offer can give you an edge in negotiations and a quicker closing process.

For Sellers:

• Price Competitively: Despite slight decreases in the percentage of original list price received, pricing your property competitively can attract more buyers and lead to faster sales.
• Highlight Unique Features: With increased inventory, make your property stand out by emphasizing unique features and upgrades that appeal to buyers.

Market Outlook:

• Stability and Growth: The market shows stability with moderate growth in single-family home prices and substantial increases in active inventory. This indicates a healthy environment for both buying and selling.
• Adapting to Trends: The extended time to contract and sales for townhomes and condos suggests a more deliberate buying process. Stay patient and informed to navigate these trends effectively.

Concluding Message

The Broward real estate market is full of exciting opportunities for both buyers and sellers. Remember, every market shift brings new possibilities. Embrace these changes with optimism and confidence. As Zig Ziglar famously said, "You don't have to be great to start, but you have to start to be great." Let’s move forward with determination and seize the opportunities that lie ahead.

Closed Sales: In June 2024, Miami had 966 closed sales of single-family homes, just a bit lower than the 1,004 sales in June 2023. This 3.8% decrease is a gentle reminder of the market’s natural ups and downs.

% Paid in Cash: Cash transactions made up 24.6% of sales, down from last year’s 26.6%. Despite this, nearly a quarter of buyers are paying in cash, showing strong confidence in the market.

Median Sale Price: Here’s some great news—median sale prices went up by 5.5%, reaching $657,000. This increase highlights the ongoing demand for single-family homes in Miami.

Dollar Volume: The dollar volume surged by 17.2%, hitting an impressive $1.22 billion. This growth is a clear sign of a healthy, active market.

% of Original List Price Received: Sellers received 97% of their original list prices, the same as last year. This consistency shows a balanced market where buyers and sellers are finding common ground.

Median Time to Contract: Homes are taking a bit longer to sell, with a median of 28 days to contract compared to 27 days last year—a small 3.7% increase.

Median Time to Sales: The total median time to sales decreased by 2.8%, from 71 days to 69 days. This slight drop shows deals are closing a bit faster.

Active Inventory: Active inventory rose significantly by 35%, with 3,929 homes available compared to 2,911 last year. This increase gives buyers more options, making the market more dynamic.

Months Supply of Inventory: Inventory supply jumped by 33.3%, from 3.3 to 4.4 months. This boost is a positive indicator of market stability and buyer choice.

Closed Sales: The market for townhomes and condos saw a sharper decline, with 1,085 closed sales—a 20.2% drop from last year’s 1,360. This change highlights shifting preferences in property types or market adjustments.

% Paid in Cash: Cash purchases made up 49.9% of sales, down from 56.0%. Despite this drop, nearly half of transactions are still cash, showing continued confidence in the market.

Median Sale Price: Prices held steady with a slight increase of 0.5%, reaching $420,000, showing resilience in the condo and townhome segment.

Dollar Volume: Dollar volume decreased by 11.8% to $830.23 million, suggesting fewer high-value transactions compared to last year.

% of Original List Price Received: Sellers received 95% of their original list prices, a small dip from last year’s 96%, indicating minor shifts in negotiating power.

Median Time to Contract: A significant change here, with the median time to contract increasing by 56.3%, from 32 days to 50 days. This longer period might reflect more buyer deliberation or market cooling.

Median Time to Sales: The total median time to sales also rose by 16.9%, from 77 days to 90 days, reinforcing the trend of longer decision-making periods.

Active Inventory: Inventory levels soared by 56.8%, with 9,588 units available compared to 6,116 last year. This substantial increase offers more choices for buyers, promoting a competitive market.

Months Supply of Inventory: The supply of inventory jumped by 78%, from 5 months to 8.9 months. This significant rise points to a more balanced market with ample opportunities for buyers.

Practical Advice and Actionable Insights

For Buyers:

• Leverage Inventory Increases: With active inventory rising significantly for both single-family homes and townhomes/condos, buyers have more choices. Take advantage of this to find properties that meet your specific needs and negotiate favorable terms.
• Consider Cash Offers: While cash transactions are down, they still represent a strong segment of the market. If possible, making a cash offer can give you an edge in negotiations and a quicker closing process.

For Sellers:

• Price Competitively: Despite slight decreases in the percentage of original list price received, pricing your property competitively can attract more buyers and lead to faster sales.
• Highlight Unique Features: With increased inventory, make your property stand out by emphasizing unique features and upgrades that appeal to buyers.

Market Outlook:

• Stability and Growth: The market shows stability with moderate growth in single-family home prices and substantial increases in active inventory. This indicates a healthy environment for both buying and selling.
• Adapting to Trends: The extended time to contract and sales for townhomes and condos suggests a more deliberate buying process. Stay patient and informed to navigate these trends effectively.

Concluding Message

The South Florida real estate market continues to thrive with exciting opportunities for buyers and sellers alike. Remember, every market shift brings new possibilities. Embrace these changes with optimism and confidence. As the legendary Zig Ziglar once said, "You don't have to be great to start, but you have to start to be great." Let’s move forward with determination and seize the opportunities that lie ahead.

@Mya Toohey This!!!!!!!!!!!!! the power of Manifestation is real. Thank you so much for sharing.

Hello, In other careers out there, I was wondering how everyone here decided to be in Real Estate and the challenges that has changed your life.  I love listening to people's stories to learn and be inspired but first here's mine. 

''When I left Naples, I was terrified and alone. Those who stood by me ran away, leaving me to start from scratch in a new world.''

At the age of 21, I started investing in real estate in Italy and faced the challenges of the 2011 market crisis. This became a turning point in my life. However, despite all the challenges, I didn't give up and found a great opportunity here in FLORIDA.

I'm lost that time I don't speak much English, New people and a new place......

Only you have the power to decide how to see things.

I learned two languages and achieved unimaginable goals. I made friends with billionaires, multimillionaires, and ordinary people from all over the world. I discovered that strength is within me, I learned to love others and my family more, and I created my financial freedom.

Now I am happy and constantly create, not for money but for the joy of creating, and the money always comes in abundance.


Let us hear your story :)

 Good to know that you are starting to learn and gather info's at a young age. Real Estate is always a good investment, although some experts have says on that, we don't handle the future the first step to do is continuous learning especially always keeping an eye on the risk

Interesting topic, I think because they are afraid to take risks and not ready to lose something. Congrats on Launching your Book.