March was a BIG Month for Palm Beach Gardens Home Sales

Palm Beach Gardens Single Family Home Sales up 41% in March.

After falling slightly in February Palm Beach Gardens single family home sales soared like an eagle during March jumping 41% to one of the best performing months of the last year. During the month our local MLS system shows a total of 72 successful closings as of this mornings’ update. That compares with 51 sales in February and a continuation of a market improving even though prices are still being held down.

While the number of sales soared last month they also were spread nicely in all price categories but heavily weighted with 44% of all sales below $300,000. The local market is doing a great job of absorbing the foreclosures as they hit the market but those properties are keeping a lid on price increases at this time. I am hopeful that we see a more sales in the upper price ranges over the coming months as the economy continues to improve; we really need to start seeing some continuing positive signs in inventory reductions. The chart below shows the percentage of sales by price category for the month of March.

With sales falling heavily into the lower price categories it kept a damper on the median home price but we still saw a nice increase from the previous month. In fact, it was up to $340,000 in March, which is up over 13% from last months number of $300,000. With the season winding down I was expecting a much stronger showing but we hardly experienced that which is certainly disappointing. The chart below shows median prices on a monthly basis over the previous 12 month period.





I watch these market trends very closely as the data is very important to our clients, whether they are buying or selling, to paint a picture of where the market may be heading. If you would like any additional information on a specific home, neighborhood, or community please feel free to contact me. I am easily reached at 561 308-0175 or via e-mail at tom@tompriester.com and would be happy to be of assistance with any of your real estate questions. After just one call you will know why "Results Driven Real Estate" is your top choice for professional real estate services in Palm Beach Gardens and the surrounding areas.



Always at Your Service,



Tom Priester   e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com