REAL ESTATE SALES, PRICES CONTINUE DECLINE -- IT'S A BUYER'S MARKET!
As home sales and prices continue their decline in Palm Beach Gardens, West Palm Beach, Jupiter, Juno, North Palm Beach and throughout Palm Beach County, it remains an outstanding time to buy a new home. It is a true buyer's market
Statistics reported by the Florida Association of Realtors reflect a 22 percent decline in the number of existing homes sold in March 2007 compared with March 2006. While the decline in sales in Palm Beach County was significantly less than the decline along the Treasure Coast and somewhat less then the decline statewide in Florida, it was still higher than the national decline in home sales.
Prices as well tumbled. The median price for a home in Palm Beach County dropped about 5 percent, going from $393,700 in March 2006 down to $375,100 in March 2007.
Condo sales and prices dropped as well. Condo sales in Palm Beach County declined 8 percent, significantly less than the statewide decline of 32 percent from March 2006 compared to March 2007. Median prices for condos declined 6 percent, from $224,600 in March 2006 to $211,800 in March, 2007.
For sellers this picture is painful. After years of double digit price appreciation, homeowners are feeling a significant price pinch. If you are selling your home in today's market it is crucial for you to work with a marketing savy Realtor.
This works to the benefit of buyers. It is now possible to negotiate lower prices, seller concessions, payment of HOA dues or property taxes into contract terms. The Weiss-Clawson Team knows all of these techniques to help the buyer get the most from his home purchase.
Contact The Weiss-Clawson Team today for premiere real estate representation. We look forward to working with you.