Hello, future homeowners and savvy investors! I'm Nathan Derry, a seasoned Realtor with JohnHart Real Estate, and I've got some exciting news for you. If you've been keeping an eye on the real estate market in 90034, also known as Palms, you're in for a treat.

August 2023: Palms Is On Fire!

Let's dive straight into the numbers. In August 2023, the Palms real estate market was sizzling hot, with an absorption rate of a staggering 50%. That means, on average, it took just 13 days for properties to find their new owners. With 30 active listings and 15 properties sold, Palms is proving to be a highly desirable neighborhood.

Median Sales Price: $1,670,000

Now, let's talk numbers that might just make you smile. The median sales price in Palms currently stands at $1,670,000. While it's true that interest rates have been on the rise and inventory is somewhat limited, this doesn't mean you should hit the pause button on your homeownership dreams.

Why Buy Now?

Here's the deal. Sure, interest rates are a bit higher than they were a while back. But think of it this way: it's like locking in a low rate for the future. You see, when you secure a property now, you have the option to refinance down the road when rates are more favorable. This puts you in the driver's seat, taking advantage of current opportunities while safeguarding your financial future.

Home Prices Keep Climbing

Here's a little secret about the real estate market: home prices tend to keep climbing. So, if you wait for interest rates to drop while the market's hot, you might find yourself paying way more for your dream home. Picture this: bidding wars, skyrocketing prices, and the heartbreak of missing out on your ideal property.​​​​​​​

The Takeaway

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So, what's the takeaway from all this? In Palms' dynamic real estate market, opportunities abound. While high-interest rates might seem intimidating, they're only part of the equation. By acting now, you can secure a fantastic property at today's prices and potentially refinance for lower rates in the future.

Don't let the fear of a slightly higher interest rate hold you back. With an absorption rate of 50%, homes in Palms are moving quickly. If you're ready to call this vibrant neighborhood home, give me a call at 424-303-0440. Let's explore the exciting possibilities that Palms has to offer.

Remember, in real estate, the time to act is now. Don't wait for the market to pass you by. Seize the opportunity and make Palms your new home.

📍JohnHart Real Estate
📞(424) 303-0440
📧 itsnathanderry@gmail.com
🤖 nathan@jhagents.com
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