Today we will review a market report for housing development of Palm Beach Plantation in Royal Palm Beach, Florida brought to you by Mark Baker of www.BuyingPalmBeachHomes.com In this article we will cover the current market and the type of homes for sale available in Palm Beach Plantation Royal Palm Beach, including the current market prices, the metrics on the 90 day sold properties including property types and also the financing terms. This will give you a really good picture of the homes that are available in Palm Beach Plantation Royal Palm Beach, Florida.
Currently there are twenty-two homes for sale with four properties under contract marked contingent and eight properties are under contract and marked pending. Now, I often get the question what’s the difference between the two and the difference is this: If the property is under contract market contingent there are still contingencies in the contract that need to be fulfilled. Common types of contingencies are inspections and financing. Once those items have been finalized the agent should change the status in the system to pending. So a listing marked as pending is further along in the sales process and closer to the actual closing date.
There are ten properties currently available with seven properties that are traditional sales, nine properties that are real estate owned or bank owned and zero properties are short sales. On the low range the asking price is a little over $239,000 for a three bedroom, two bathrooms with 1,822 square feet under air and on the high end of the range almost $469,000 for a five bedrooms, four baths with 3,894 square feet under air. The median price is $309,000 for the homes for sale.
In the last three months, there have been fifteen homes that have sold. The average sales price was $303,000 and the price per square foot ranges from $94 to almost a $148 per square foot. The average was $122 a square foot. I have intentionally given you this range so you can understand the market dynamics within Palm Beach Plantation. There are quite a few foreclosures which foreclosures typically have a lot of deferred maintenance. So if you have a found a foreclosure that you are interested in and are bidding on it I would start in the lower end of this range. If you are looking to buy a traditional sale you should expect that the price point would be somewhere on the higher end of this price per square foot.
The average days on market were 77 days of the sold properties three were short sales, five were bank or REOs and six were traditional sales. In regards to financing terms, for the closed properties, cash represented four of those properties, conventional sales with 20% down on the loan represented nine properties, one was FHA/VA and one was seller financed.
If you are looking to buy or sell a home in Palm Beach Plantation, let me put my experience work for you. I have extensive knowledge of the homes within Palm Beach Plantation with video tours of most models to show clients if they are out of state or they are just looking to get an idea of the floor plan. Thanks for reading my Palm Beach Plantation Homes for Sale Report in Royal Palm Beach, Florida I hope that you have found the information helpful. You can reach me at 561-768-7968 or you can visit me online at www.BuyingPalmBeachHomes.com .
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