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REAL ESTATE ACTIVITY INCREASING, BUT SALES STILL DECLINING

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January 2007 real estate sales statistics for Palm Beach Gardens, West Palm Beach and all of Palm Beach County continue to show a decline, but the numbers appear to be moderating.

Home resales declined 15% in January 2007 compared with January 2006, but it was substandially less then the 27 percent state wide decrease in home sales. 

Median home prices also continued to decline, 1 per cent down in January 2007 compared with January 2006.  That places the median home price in Palm Beach County at $388,000, down from $393,700 just a year ago.  But the numbers are still better than the 4 percent nationwide decline in home prices.

Despite these dismal numbers, we are seeing a dramatic increase in the number of people shopping for new homes.  We have had more showings on our listings in the past few weeks than we have had for months.  And we are working with a number of very serious buyers.

The buying environment has changed significantly.  People want value today versus the frenzy of buying a house at any cost over the past several years.  Prices of existing homes on the market must come down before serious buyers will begin signing contracts.  Some potential buyers, in fact, are favoring an annual rental, waiting until the market hits bottom.

The Weiss-Clawson Team has buyers ready to purchase homes at reasonable prices.  If you are interested in selling your home, we want to talk with you. Check our website, www.palmbeachcountyhomes.com or e-mail sue@sueweiss.com or carol@carolclawson.com

 

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