It is so hard for me to believe that another year has almost rolled right on by. The next time I update our sales figures we will have already celebrated the New Year and 2011 will be well underway. A lot has transpired since my last report and probably the most important factor affecting the real estate markets, both locally and nationally, is the sharp upturn in interest rates we have experienced over the past 4 weeks. During November there was little good news when it came to single family home sales in Palm Beach Gardens. Not only did we see more than a 30% drop from October we also set a record low for the year last set back in January. The chart below shows the number of single family homes closed in the community by month for the calendar year.
Sales last month were slow and really about the only good news for the month is that they were very balanced. All price categories had properties close with 27 of the 44 sales closing between $150,000 and $500,000. The chart below shows the percentage of sales by price category for the month of November.
With the sales that we did have evenly balanced we were able to post an increase in the monthly median price. Median price for November was $357,500 up $8,500 from the October level. With the “season” in full swing we should see more sales and no doubt we will see nice increases in the level in median sales prices over the coming months. The chart below shows median prices through the first eleven months of 2010.
A professional real estate agent watches these market trends very closely as the data is very important to our clients, whether they are buying or selling, to paint a picture of where the market may be heading. If you would like any additional information on a specific home, neighborhood, or community please feel free to contact me. I am easily reached at 561 308-0175 or via e-mail at email@example.com and would be happy to be of assistance. After just one call you will know why “Results Driven Real Estate” is your top choice for professional real estate services in Palm Beach Gardens and the surrounding areas.
Always at Your Service,
Tom Priester e-PRO
“Results Driven Real Estate”
Keller Williams Realty