Single family homes at Palm Beach Gardens Magnolia Bay, like many of the Divosta communities, are holding value in a declining market.
Single family home prices in Magnolia Bay remain steady from 2009 into mid-2010 and declined just three percent between 2008 and 2010 Many other communities witnessed home values decline more than 10 percent in the past two years. In mid-July 2010 there were five single family homes and three town homes on the market in Magnolia Bay.
Known for solid construction and limited selection among models, Magnolia Bay was built in 2004 with models quite similar to Divosta's signature community of The Isles, also in Palm Beach Gardens. There are about 190 single family homes and town homes with many backing onto an expansive lake. Some residents have added pools to their property.
There are two, three and four bedroom townhomes and three and four bedroom single family homes in the community. Each home includes a screened lanai and a two car garage. Floor plans are light, bright and airy.
Magnolia Bay is located on Military Trail just north of Hood Road, convenient to schools, shopping, restaurants and major roadways. The community is also close to The Scripps Institute and all Abacoa resources.
From January through mid-July 2010 there was just one town home sold at $148 per square foot under air and one single family home sold at $188/SF. The single family home price was steady with the two homes sold in 2009 and just three percent below the average square foot price for the six single family homes sold in 2008. Town homes have decline 12 percent from 2008 into 2010 going from $168 per square foot down to $148/SF.
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 homes in Palm Beach County, please contact The Weiss-Clawson Team directly. We look forward to hearing from you and to helping you with your real estate needs.
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