Home prices in the Palm Beach Gardens area country club of Ibis continued to decline through the third quarter of 2011 as sales increased. This is a mirror image of homes sales and prices throughout Palm Beach County.
Through September, 2011 there were 77 homes sold in Ibis compared with 71 sold during all of 2010. But prices continue to tumble, a bit faster for homes priced at or below $400,000 than for those in higher price brackets.
Of the 77 homes sold through September, 2011 42 closed at or below $400,000. The average price for these homes was $88 per square foot, a decline of 35 percent since 2008. There were 35 larger homes priced above $400,000 that sold in Ibis through September. The average price for these homes was $179 per square foot, a decline of about 20 percent since 2008.
Throughout Palm Beach County home sales increased in September with 1076 single family homes sold, an increase of 20 percent over September 2010 sales. But Palm Beach county homes prices plunged to their lowest level of the year in September with the median price of a single family house falling to $180,300.
If you are considering buying a home in Ibis, but have been waiting on prices, this is probably the time to call your realtor and start a serious search. The number of homes on the market in Ibis has declined in 2011 compared with 2010 as savvy buyers acquire the best properties. While there are still more than 160 homes on the market in Ibis, the 2011-2012 winter season is fast approaching and expectations are it will be a stellar selling season.
The Weiss-Clawson Team researches market trends in many Palm Beach Gardens communities to provide the most up to date information to our clients. If you are interested in buying or selling a home in Palm Beach Gardens or throughout Palm Beach County, we would like to work with you. Please contact The Weiss-Clawson Team directly. We look forward to hearing from you.
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