In a shifting real estate landscape, clarity is key—and Andy Glass of Glass Realty brings just that. In a recent interview with the Palm Beach Post, Andy broke down the latest trends in the Palm Beach housing market, from modest price dips to the evolving expectations of today’s buyers and sellers.
With a reputation for navigating complex transactions and a deep understanding of the local market, Andy offers a grounded perspective
Q: The median sale price on single-family homes was down 2.4% March over March. Is that a significant dip? Why or why not?
A: A 2.4% drop is relatively minor in the big picture. It’s more of a market correction than a sign of instability. With mortgage rates remaining high and inventory ticking up, we’re seeing a bit of softening—but not a crash. In fact, home prices in some areas are still climbing. So while the dip is noticeable, it’s not alarming.
Q: What are your experiences in the market as far as asking prices and days on market?
A: We’re seeing buyers be more selective, which means homes need to be priced right from the start. Overpriced listings are sitting longer, while well-priced homes—especially those in great condition—are still moving fairly quickly. On average, days on market have stretched a bit, but there’s still steady activity.
Q: Are sellers struggling at all with pricing and the possibility that they may have to go lower than they would like?
A: Yes, some sellers are having to adjust their expectations. Many still hope to get peak pandemic prices, but today’s buyers are cautious and rate-sensitive. Sellers who are flexible and willing to price strategically are the ones who are finding success.
Q Tell me about a recent transaction, if there were any challenges and how you overcame them?
A: During a recent transaction, a home failed the inspection due to the presence of polybutylene piping—an issue that can make it difficult for buyers to obtain insurance or financing. We took the time to educate the listing agent on how this type of plumbing impacts insurability and loan approval, especially in Florida’s current insurance climate. Through clear communication and strategic negotiation, we secured a full repipe by the seller—valued at $20,000—prior to closing. This not only protected our buyer from future risk but also ensured they could move forward with peace of mind and proper coverage in place.
Source: The Palm Beach Post
