Condos at San Matera in Palm Beach Gardens can be bought for less than a third of the price they were first sold for in 2005.
With a prime location less than a mile from Palm Beach Gardens' three major malls and less than 10 minutes to wonderful beaches, San Matera provides unique opportunities for savvy buyers, whether investors, snow birds or residents.
San Matera is located just north and slightly east of The Gardens Mall and close to Downtown at the Gardens and to Legacy Place. There are about 660 units at San Matera in three story buildings. A clubhouse, tennis courts and a swimming pool are included in the gated complex.
In early June there were about 50 one, two and three bedroom units available in San Matera ranging in size from under 1000 square feet under air up to more than 1600 square feet. A few units even have a garage. Prices range from about $50,000 for a one bedroom condo up to more than $350,000 for a three bedroom unit. But most condos can be bought in the low to mid- $100,000's.
In 2005 a one bedroom unit sold for $186,500. During the first half of 2010, one bedroom units sold for as little as $54,000. The two bedroom units were about $290,000 in 2005, but were selling for as little as $82,500 in early 2010. And the three bedroom units, which cost more than $350,000 in 2005 were selling for the low-$100,000's in the first half of 2010.
Since 2008 prices at San Matera have dropped nearly 40 percent going from an average of $137 per square foot down to $84 per square foot in the first half of 2010.
The Weiss-Clawson Team researches communities throughout Palm Beach Gardens and 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 Gardens, please contact The Weiss-Clawson Team directly. We look forward to hearing from you and to working with you.
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