April: Letter from Palm Beach: You’ll Never Go Hungry

The Cregan Team - May 2, 2021

Why Won't You Go Hungry in Palm Beach?

Not because Le Bilboquet is now here. Or La Goulue. Or Sant Ambroeus. Or LoLa 41. Or Henry's and Buccan and Bricktops or a dozen other great local bistros. No, as any five-year old jokester will tell you, you'll never go hungry in Palm Beach because of all the sand-which-is there!

And let's give thanks to the Army Corp of Engineers who just served up a heaping second helping. Not that our beaches were particularly underfed (see before and after pics below) but a little re-nourishment is always welcome before the fall storms make landfall. After a month of dredging up some beautiful deep sea sand and piping it onto our shores, the Corps has delivered a healthy extra 20 yards or so. Just in time for those mama sea turtles to haul themselves out of the surf on the way to our suddenly more distant dunes. Sorry girls.

Market Color: The Closings Conumdrum

Everyone's talking about the decline in Listings, but there's been less chatter about the rise in Closings.

As evidenced in the chart above, there's been no slowdown in the level of activity. Some of that is Buyers' reluctance to wait– many want a Florida residence now even if the property doesn't tick every box on their list. But the other factor is the number of homes selling off-market or going to contract pre-listing. If we learn of a nice home that will be coming to market at a fair price, we sometimes find a Buyer before the photos come back from the listing shoot.

A knock-on effect of the fast-paced activity is the rising Percentage of List Price Received (graph below). There may be more inventory than meets the eye, but this is no market for hagglers.

So if you're in the market for a home, please let us know what you're looking for!

Our Coming Listing - In Town Style

444 Chilean Avenue: We'll be Listing this home this week. A 2016 design by famed local architect, Pat Segraves, this in-town beauty with his and her master bath is the epitome of move in ready.

3 bedrooms/4.5 baths, pool and guest suite, all steps from the park at the brand new Town Docks $8.75m

Our Coming Listing - A Charmer in SoSo

6408 Washington Road, West Palm Beach: We'll be Listing this home this week as well. Fully renovated in 2016 with a very up-to-date open kitchen/family room, modern baths, a new roof and full impact glass.

3 bedrooms/3 baths, enclosed yard and room for a pool. On a quiet corner in family-friendly SoSo. $1.495m

Closed: Our Buyer - Villa Giardino

341 Peruvian Avenue: Okay, yes, we're pretty proud of this one. In an off-market transaction we brokered one of Palm Beach's most beloved and iconic properties to new owners who plan to preserve it for the next generation.

Nearly 9,000 sqft on a half acre of gardens, a lob wedge from Worth Avenue. The Palm Beach Daily News thought the sale newsworthy enough to splash the story across their front page.

Work With Us

As a real estate team, Lisa and John Cregan comprise a perfectly complementary set of skills- Lisa’s deep knowledge of architecture and interior design combined with John’s decades of experience in market analysis, finance and negotiation.

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