Palm Aire Market Report Year End Summary

By
Real Estate Agent with Waterfront Homes, Oceanside Condos,Investment Properties, Probate, REO. Covering Broward County 3149072

Below is a report of all the closed real estate sales in the Palm Aire Country Club community of Pompano Beach, FL.  All information was gathered from the Multiple Listing Service (MLS).

Address

Type

Beds

Baths

List Price

Sold Price

% Diff

DOM

Date Sold

492 W PALM AIRE DR #492

TH

3

2/1

$ 495,000

$ 450,000

9%

90

12/27/07

1100 W CYPRESS DR #V-1

VILLA

3

3

$ 265,000

$ 250,000

6%

23

12/17/07

806 CYPRESS BLVD. #504

CONDO

3

2/1

$ 249,000

$ 235,000

6%

145

12/14/07

625 OAKS DR #807

CONDO

3

2/1

$ 214,500

$ 195,000

9%

100

12/14/07

3850 OAKS CLUBHOUSE DR #410

CONDO

3

2

$ 209,900

$ 185,000

12%

123

12/12/07

3980 OAKS CLUBHOUSE DR #109

CONDO

3

2

$ 203,900

$ 188,500

8%

49

12/14/07

4191 CYPRESS REACH CT #404

CONDO

2

2

$ 199,999

$ 177,500

11%

97

12/17/07

3980 OAKS CLUBHOUSE DR #110

CONDO

3

2

$ 193,500

$ 189,500

2%

20

12/03/07

625 OAKS DR #1004

CONDO

2

2

$ 189,000

$ 189,000

0%

125

12/14/07

804 CYPRESS BLVD #208

CONDO

3

2/1

$ 179,900

$ 166,000

8%

146

12/18/07

4030 W PALM AIRE DR #207

CONDO

2

2

$ 174,900

$ 150,000

14%

98

12/26/07

2801 N PALM AIRE DR #101

CONDO

3

2

$ 165,500

$ 147,500

11%

53

12/21/07

4091 CYPRESS REACH CT #105

CONDO

2

2

$ 154,500

$ 149,000

4%

117

12/18/07

2901 S PALM AIRE DR #108

CONDO

2

2

$ 139,999

$ 128,500

8%

24

12/10/07

2650 S COURSE DR #107

CONDO

1

1/1

$ 129,700

$ 121,500

6%

168

12/06/07

 In 2007 there were a total of 212 units sold.  Which equals an average of 18 units per month.  There are currently 357 properties for sale in Palm Aire Country Club.  With that much inventory we have a 20 month supply at the current rate of sales.  In December of 2006 the average sold price in Palm Aire was $224,275.  In December 2007 the average price declined to $198,000.  This is a drop of 13% from the prior year.

The good news is inventories have started to decline.  At the beginning of 2007 there were approximately 400 units for sale.  This doesn't mean prices are going to begin to rise any time soon, but they may start to stabilize if the inventories continue to decline.

For previous monthly reports click here.

Tom Day, Re/Max in Motion

www.TomDayProperties.com

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