The small and exclusive Palm Beach Gardens country club community of Old Marsh is facing sluggish sales and lower prices as the 2011 winter season approaches. Many of the area's high end communities are experiencing very slow sales and declining prices as competition for the home buyers' dollar intensifies.
By fall, 2010 just three homes sold in Old Marsh this year, down significantly from 2009 sales. At the same time, prices are down by nearly one-third in 2010 compared with 2009.
Through early October 2010 just three homes sold in Old Marsh and they averaged $259 per square foot, compared with seven sales in 2009 averaging $385/SF.
Old Marsh is an exclusive enclave of about 140 executive homes in western Palm Beach Gardens with a magnificent golf course and country club. The community is located along Jog Road just north of Hood Road.
There are currently 16 homes for sale in Old Marsh, both resales and new construction, ranging in price from $1,299,000 for a four bedroom, three bath home up to $5,400,000 for a five bedroom, seven bath mansion.
The Weiss-Clawson Team researches market trends in 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 County, we would like to help you. Please contact The Weiss-Clawson Team directly. We look forward to hearing from you.
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