Palm Beach Gardens real estate - Where is the bottom of the market

Buyers that wait for the very bottom of the Palm Beach Gardens market will in all probability miss it. By the time it is apparent to everybody that the market is climbing, there will be a 5 % or so adjustment from the real bottom. If you waited to buy a $600,000 home in Palm Beach Gardens for $400,000 when you could have bought it for $500,000, you will now pay $525,000 if you want to buy it. That is still a good buy, but by trying to get the last dollar from the seller you will probably miss the sale or pay more for it.

 

If you look at the single family homes for sale in Palm Beach Gardens there are about 1,000 of them. We are on track for about 750 of them to sell this year.   There were 626 sold in 2006 and 1,086 in 2005. If the pace of sales pick back up to 2005 levels then we have a little less then a one year supply of homes. That is on the high side of a balanced market but is not a strong buyers market. Right now the supply of homes is wide and varied and there are some fine home for sale at reasonable prices.

 

The supply of homes for sale in Palm Beach Gardens has been declining for about 5 months, but has not reduced the inventory enough to cause prices to start climbing again. With the number of homes on the market declining, it is only a matter of time until the price starts to rise again. It will probably take three or four years for prices to reach 2005 levels, but the steady climb of prices will once again be with us.

 

If you would like more information on sales and statistics go to our web site at www.YourUltimateTeam.com and there are statistics for several communities.

• North Palm Beach homes for sale
• Jupiter homes for sale