Palm Beach Gardens town homes at Cielo offer residents an ideal location and upscale living. And some units have been purchased recently for just about half the price of when they were new.
Built in 2006, the town home complex is located at Donald Ross Road and Military Trail, convenient to Abacoa, Scripps Research Institute, shopping, restaurants and just five minutes from the beach. The small town home community is just behind Donald Ross Village, so you can just about walk to Scripps or to FAU at Abacoa.
Some two story and some three story townhomes, all have two car garages, granite counters in the kitchen and hurricane impact glass. The units range from 2200 square feet to about 2350 square feet with three bedrooms and either two or three baths.
When first built, Cielo attracted scores of investors, anxious to buy at low prices, then flip the property for a profit. But the housing boom started crashing in 2006 and many were left holding units at inflated prices. When originally sold, most Cielo town homes sold in the mid to high $300,000's. Today, prices are down in the low to mid $200,000's.
From January through mid-May 2010 just two units closed in Cielo averaging $107 per square foot, down about 20 percent from sales prices in 2008 and nearly 50 percent less than when purchased new in 2006.
Today there are 14 town homes on the market in Cielo, seven of which are already under contract. Prices of the seven remaining units range from $249,000 up to $399,000.
The Weiss-Clawson Team researches communities in Palm Beach Gardens and throughout Palm Beach County to provide the most up to date information for our clients. If you are interested in buying or selling a home in Palm Beach County, we would like to talk to you. Please contact The Weiss-Clawson Team directly for information about properties meeting your criteria for a new home, or for a market analysis of the home you are wanting to sell. We look forward to hearing from you and to working with you.
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