PALM BEACH GARDENS HOME PRICES STABILIZE AS SUMMER ENDS; SALES REMAIN STRONG

The median price of a single family home in Palm Beach Gardens and throughout Palm Beach County remained steady in August strengthening conventional wisdom that the real estate market saw bottom last winter and is slowly recovering.

The median price of a single family home in Palm Beach County for August was $245,700, just a smidgen higher than the $245,200 registered in July, according to figures released today by the Florida Association of Realtors.

  While prices are still down significantly from a year ago, $245,700 beat the median price point registered throughout the winter season of 2009 by more than $10,000.  It is generally during the season that prices reach their highest point, not during the traditionally slow months of July, August and September.

The number of single family home sales also remained strong at 754 for August.  This too was higher than any month during the winter season.  And sales were down slightly from June and July when each month registered 859.

The condo market is also rebounding.  The median price for a condo in Palm Beach County was $112,200 in August, up slightly from $110,500 registered in July.  Sales of condos remained steady at 651, down slightly from the 679 condos sold in July.

The statistics were are seeing today reinforces the idea that we are in the best period for home buying in Palm Beach Gardens and Palm Beach County.  The inventory of homes on the market, though about 25 percent smaller than when the year began, still provides prospective buyers with loads of choices for the budget and their taste.  And prices do no appear to be going lower than what we saw last winter when the median home price in Palm Beach County bottomed at about $228,100.

The Weiss-Clawson Team researches the real estate market throughout Palm Beach Gardens and Palm Beach County to provide the most up to date information to our clients.  If you are interested in buying or selling a home, we want to talk with you.  You can contact The Weiss-Clawson Team directly.  We look forward to hearing from you and to working with you. 

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