Homes are selling in Palm Beach Gardens area communities with the majority of properties changing ownership priced at the lower end of the market.
From January through early November 2010 more than 1,000 homes sold in our area with nearly two thirds of those priced at or below $300,000. This is reflective of buyers today shopping for bargains and willing to sign purchase contract on properties that they consider to be good values. It is also indicative of a large number of short sales and foreclosures finally finding new owners. These properties are often sold below market value.
Prices in many of the country club and executive communities continue trending downward providing outstanding opportunities for savvy buyers.
In Ironhorse there have been 20 homes sold so far this year, nearly double the number sold in 2009. Eleven of the homes sold were priced under $350,000. During 2009 just 11 homes sold during the entire year, but only one of those closed below $350,000.
In Ibis, 61 homes have sold through early November 2010 but more than half of them were priced under $400,000. And just four of the Ibis homes sold were priced above $1 million. Through all of 2009 in Ibis there were 72 homes sold, a similar sales pace to 2010. But last year just 26 homes closed under $400,000 and six homes sold for more than $1 million.
There have been nine sales in Steeplechase from January through early November, 2010 with four homes closing at prices under $700,000. During 2009 just two homes sold in Steeplechase, a tear down and a foreclosure. The last time a home sold for more than $1 million in Steeplechase was in 2008.
And in San Michele four homes sold during 2010 with just two closing at or above $1 million while in 2009 four homes sold with three closing at or above $1 million.
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 Gardens, we would like to help you. Please contact The Weiss-Clawson Team directly. We look forward to hearing from you.
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