HOMES SALES, PRICES STILL SLIDING AS INVENTORY RISES

Home and condo sales and prices in Palm Beach Gardens, West Palm Beach, Juno Beach, Jupiter,  North Palm Beach and all of Palm Beach County continued to decline in February 2007 compared with February 2006.

Figures released by the Florida Association of Realtors show a decline of 21 percent in single family homes sales in February 2007 compared with February 2006. The number of condo sales declined 14 percent during the same period in Palm Beach County.

The median price of single family homes fell four percent in February 2007 compared with February 2006 .  Condos prices fell five percent in Palm Beach County during the same period.

The inventory of homes on the market has climbed to nearly 24,000 in Palm Beach County, about three times the number of units for sale during the boom year of 2005.

While we had hoped for a rebound in sales and prices during the early seasonal period of January and February, we see buyers waiting until they believe the market bottoms and sellers clinging to their desired higher sales prices.

Many of our buyers tell us they will return after the season, between May and August, to consider buying the home they have eyed.  Realizing that the best homes on the market will sell, we urge those considering buying a home to make an offer now and let us negotiate a good price for them. We always do the research to ensure our buyers are getting a great price for the home they want.

If you are interested in buying or selling a home in Palm Beach Gardens, West Palm Beach, Juno Beach, Jupiter, North Palm Beach or anywhere in Palm Beach County, please contact The Weiss-Clawson Team for our expert advice and exceptional service.

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