The number of homes sold in Palm Beach Gardens, West Palm Beach, North Palm Beach, Juno Beach, Jupiter and through the Palm Beach County area continued to decline throughout the first quarter of 2007
Home prices throughout the Palm Beach Gardens area also declined for the period.
There was a 17 percent decline in the number of Palm Beach County homes sold, dropping from 804 in April 2006 down to 665 in April 2007.
Similarly, median home prices during the same period declined 3 percent, going from $386,500 in April 2006 down to $376,300 in April 2007.
One main reason for this ongoing decline in sales and median home prices is that sellers continue to overprice their homes. Buyers are refusing to pay inflated prices in this market and many have decided to rent until prices become more reasonable.
There are homes being sold and those buying today are focusing on value pricing. There is so much on the market in the mid-price range, that is $400,000 - $900,000 that buyers have many, many choices in location, styles, sizes and communities. Homes that are selling are very competitively priced, are easy to see and are in model home condition. Homes that are overprices, and not in prime condition are sitting on the market.
In you are interested in finding good value for your housing dollar, contact The Weiss-Clawson Team. We do extensive research to assist our buyers in obtaining good value in an attractive home. We look forward to hearing from you and to working with you.