Prices of both single family homes and condos in Palm Beach Gardens and throughout Palm Beach County jumped in May to reach the highest point yet seen in 2011.
At the same time, sales remain brisk at about the level they were in April, but significantly higher than in May, 2010.
While optimism abounds about whether these numbers signal a bottoming of the real estate market in Palm Beach County, it is truly too early to know for sure. However, if you area a buyer hoping to catch the bottom of the market, this could be the time to get serious.
The median price of a single family home in Palm Beach County climbed to $214,100, fully seven percent higher than in April and 10 percent higher than in January. Volume of sales were 1115 in May compared with 1112 in April and 887 a year ago, according to statistics released today by Florida Realtors.
The median price of a condo in Palm Beach County rose to $85,200, four percent higher than in April but 11 percent above January's median price. There were 1227 condos sold in Palm Beach County in May compared with 1338 sold in April.
The Weiss-Clawson Team researches real estate market trends in Palm Beach Gardens and throughout Palm Beach County to provide the most up to date information to our clients. While the numbers cited here reflect county-wide statistics, we have market information about most communities in Palm Beach Gardens and many throughout Palm Beach County.
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 working with you.