Gardens Single Family Home Sales Pick up Slightly
Another month rolls on, summer is now officially in the rear view mirror, as we start off the fall season looking back at sales during August in the north county area. This month we are going to start giving our “power rankings” of the different municipalities and will post the blogs starting with the lowest ranking and continuing through the star of the month. So here for our first ever power rankings are the results for August;
#1 North Palm Beach
#4 Palm Beach Gardens
#5 Juno Beach
#6 Hobe Sound
This month’s third report with the #4 ranking is single family home sales in Palm Beach Gardens which the lowest rated municipality of those that showed an increase in sales over the previous month. We are also up about 6% from the 12 month average which stands at 66.16 which is a good sign. As of this morning our MLS system shows a total of 70 successful closings in August which was just slightly ahead of the 69 we had in July and well ahead of the 47 sales we had in August of 2010.
While sales levels picked up slightly they were also heavily weighted in the $150,001 to $300,000 and $300,001 to $500,000 price categories which weighed in with 63% of all sales. Sales in the $1,000,000 were also strong with 8 sales which represented about 11% of the market. The chart below shows the percentage of sales by price category for the month of August.
With all sales in the middle pricing segment and strong high end sales we should expect good median sales prices figures and that is what we got with a healthy increase over the July numbers. August numbers came in at $325,000 which was well ahead of the July median price of $271,500 but still seeing pressure from the foreclosure market. We were dead even with the $325,000 median price we enjoyed in August of last year but slightly below the 12 month average of $343,929. We were very happy to report last week that foreclosure numbers were down for the 4th consecutive month which is the first step in getting prices to move higher. The chart below shows median prices on a monthly basis over the previous 12 month period.
We firmly believe that our job as professional Realtors® is to ensure our clients have all of the information required to make a fully informed decision when either buying or selling. If you, your family, friends or co-workers are currently planning on any real estate transaction please consider a free consultation with “Results Driven Real Estate”. Easily reached at 561 308-1075 or via e-mail at firstname.lastname@example.org we are here to assist in any way that we can.
Always at Your Service,
Tom Priester e-PRO
”Results Driven Real Estate”
Keller Williams Realty