Industry and Home Trends– June, 2017
LOCAL REAL ESTATE TRENDS:
Realtor® Association of the Palm Beaches Recent Media Releases April 21, 2017:
Palm Beach County: March Real Estate Report Reflects Robust Market Conditions
Martin County: Market Report Indicates Healthy Real Estate Appreciation
St. Lucie County: Dollar Volume for Single Family Homes Increases 28.8%
Qualified Remodeler Magazine reports the NAHB Remodeling Market Index at the highest level since 2015 for Q1, 2017. This Index indicates remodelers posted increased remodeling activity, and is an indicator of future activity. Data shows significant increases of work contracted with larger jobs outpacing smaller jobs. A strong rebound in homeowner equity has given homeowners the confidence and means to undertake larger jobs they have been delaying.
NAHB also released custom home starts have also have also experienced significant increase in new home starts.
Bosch introduces a redesigned dishwasher with a third rack for increased loading capacity, “ExtraDry” setting and a “Speed60” cycle for quick washes.
LG features the “TwinWash” with “SideKick pedestal” which allows two wash loads to run simultaneously.
Sherwin Williams revealed their 2017 color of the year- Poised Taupe, a “brownish-gray that’s neither cool nor warm”, according to reviewers. Stunning!
Water Wise awareness is becoming a bigger hot button. The more water saved, the better. Consumers (53%) favor water efficient products, such as dual-flush toilets and low-flow shower heads. Delta’s HydroRain 2-in-1 Shower Head is a cool new concept.
Your Time Is Precious– You may find interest in this blog on our website. Customer reports and comments shared by major builders and consumers all praise the convenience of private selection studios. Considerable cost of personnel time, the cost to maintain and update products and displays, and the cost of having this space exclusive to our customers, is offset by the convenience of our customers spending 1-on-1 time, in peaceful and private surroundings, to make their selections that personalize their homes. Our Selection and Design Studio is available by appointment only, to our customers; and, only one customer at a time. No interruptions or distractions. Just your time with our staff guiding your selections and personalization’s. After all, your time is precious.
Trends reported by Zillow Digs in a national survey:
• Homes with “subway tiles” sell for up to 7% more than expected and 63-days sooner.
• Shaker cabinet style doors are timeless and listings with these sell up to 45-days faster and almost 9.6% more than expected.
• Barn doors are very IN, earning 13% more than expected and these listings sell almost 53 days faster.
• Quartz is the preferred counter top of recent, garnering a 6% sales premium as opposed to granite’s 4%.
• Farmhouse sinks earn an average of 8% sales premium and have a 58-day selling advantage.
Based on a survey of 2-million home sales nationwide.
More in demand per Builder Magazine, April 2017:
• Drop zones for keys, electronics & charging
• Outdoor living and entertaining areas that include heaters, cooking, TV
• Wider and random width flooring- wood, ceramic, and porcelain.