Tequesta Homes for Sale - Tequesta Real Estate
When you’re looking for a home for sale in Tequesta, look no further than Frankel Realty Group to help you find your dream home. Tequesta is an incorporated village in Palm Beach County with a population of only 5,873.
Tequesta consists of several luxury communities including Tequesta Country Club, Turtle Creek, Riverside on the Loxahatchee and Heritage Oaks. Waterfront and golf homes for sale in Tequesta range in size from 1,200 to just over 10,000 square feet of living space and range in price from the low $200’s to over $6 Million.
The 2011 statistical information for Homes Sold in Tequesta suggests that we have found a bottom in Tequesta’s residential real estate market. Here are the final numbers for 2011:
Homes Sold & Closed – 267
Avg. Days on Market – 221
Avg. Sale Price Non-Water – $394,000
Avg. Sale Price Waterfront - $1,298,000
Sale/List Price Ratio – 90.53%
The statistical data from the past 6 years suggests that the Tequesta residential real estate market hit bottom sometime between the 4th quarter of 2009 and the 1st quarter of 2010. Since 2008, Total Sales are up 33%. The Average Sales Price in Tequesta has increased 9% since the 4th quarter of 2010 for waterfront homes and 16% on non-waterfront homes… a significant change. Average Days on Market has decreased 8% since the 4th quarter of 2009 and appears to have leveled over the last 2 years. Although Average Sales Price is now trending upward, Average Sale Price Per Living Area Square Foot has increased just 1% since the 4th quarter of 2010. No one has a crystal ball, but these statistics are positive indicators that home values and general real estate conditions are improving for sellers of residential real estate in Tequesta, Florida.
Price continues to be the catalyst for determining days on market. For homes priced at or below market value, the average days on market is 90 days. For homes priced above current market value, average days on market is nearly 280 days. The question is… how quickly do you want your home to sell?
One other thought… The average age of a home in Tequesta is 30 years and new housing starts are at an all-time low in Northern Palm Beach County. If home prices remain below replacement cost and lending markets remain tight, the small to medium builder is forced to sit on the sidelines and existing re-sale inventory must be absorbed. Buyers looking for new homes will continue to have little to consider, so homeowners with significantly renovated homes in today’s re-sale market will be the first to sell. See all homes for sale in Tequesta, Florida by searching MLS at www.frankel-realty.com.
Frankel Realty Group has agents who specialize in the sale of homes and condos in Tequesta. Click on the link below to see all the available homes and condos for sale in Tequesta and call Frankel Realty Group for quick access to all luxury homes for sale in Tequesta, Florida.
For more information on the Tequesta Real Estate market or to list your home for sale, contact Brad Ball, Broker Associate with Frankel Realty Group at 561-373-8700 or email at bball@frankel-realty.com