Palm Beach Gardens home prices and sales remained flat in August, 2010 compared with a month earlier giving buyers continued opportunities to sign great deals throughout the area.
The median price of a single family home in Palm Beach County has fallen where it was in March 2003, at $227,800, about 46 percent below the peak level of $405,000 experienced in June 2006, according to statistics from the Florida Realtors Association. Sales of single family homes dropped slightly in August from 802 in July to 793 in August.
Condo prices in Palm Beach County hit a low point for the year with the median price at just $84,900 down nine percent from July and down nearly 25 percent from a year ago.
All real estate is local and throughout Palm Beach County buyers will find that prices in some communities declined more than 46 percent from the market high and some have declined less. But prices are down significantly everywhere.
Homes selling most briskly are those in the lower price brackets, under $300,000, fueled largely by federal tax incentives for first time homebuyers and other who will occupy the property. But those benefits have ended and the real estate market continues to struggle to find a bottom point from which to move higher.
Investors have recently returned to the market, grabbing highly discounted foreclosures and short sales. But there are still thousands of homes available to interested buyers in all price categories.
The Weiss-Clawson Team researches the housing market in communities throughout Palm Beach Gardens and Palm Beach County to bring the most up to date information to our clients. If you are interested in buying or selling a home in Palm Beach County, we would like to help you. Please contact The Weiss-Clawson Team directly. We look forward to hearing from you and to helping you.