Talk about good news, no make that GREAT news; the median priced single family home has increased in value for the first time in FIVE YEARS!
As we have discussed in past reports it appears, looking at longer term charts of historical prices of Palm Beach Gardens single family homes, that we have reached a solid base over the past 18 months. At the least a very significant slow down in the pricing decline has occurred and it is important that we keep a closer eye on where prices head from here. Many analysts are projecting a long term base where prices will fluctuate moderately before we see prices trend higher from these levels. Others are predicting a double dip in the market crisis. So far the former is correct and while not a huge jump year over year prices for the median priced single family home in Palm Beach Gardens have increased for the first time since January 1, 2006. Truly a reason to celebrate.
Throw in our report of 3 days ago that housing inventory levels in Palm Beach Gardens are at their lowest level in over a year and 2011 is starting off on the right foot.
I wanted to share with you the median home price changes of single family homes in Palm Beach Gardens as of January 1st as they are very, very interesting. We are looking at the median price of all homes sold over the previous six month period and the median price in Palm Beach Gardens single family homes jumped to $350,000. This is up $10,000 from the $340,000 level of January 1, 2010. It bears watching closely as we move forward and as always “Results Driven Real Estate” will be here to bring you the latest news.
As a Palm Beach Gardens realtor we will keep watching the market and bringing our readers an up to date analysis to keep them well informed. I have detailed information available for every community and neighborhood in Palm Beach and Martin Counties so if you need any help with your particular goals please feel free to contact me for a complimentary consultation.
Always at Your Service,
Tom Priester e-PRO
“Results Driven Real Estate”
Keller Williams Realty