North Palm Beach Picks Up After Disappointing July
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 final report with the #1 ranking is single family home sales in North Palm Beach and what a comeback after last months poor showing. We are also staying above the 12 month average which stands at 8.66 and is a good sign of further stabilization in the North Palm Beach market. As of this morning our MLS system shows a total of 11 successful closings in August which was way ahead of the 4 we had in July but just below the 12 sales we had in August of 2010.
While sales levels picked up slightly they were also represented in all categories except the $750,001 to $1,000,000. It was also an exceptionally strong showing in the $1,000,000+ category with 3 sales representing 27% of the market. The chart below shows the percentage of sales by price category for the month of August.
With solid sales throughout all price levels and excellent higher end sales we should expect good median sales prices figures and that is what we got with a huge increase over the July numbers. August numbers came in at $325,000 which was well ahead of the July median price of $220,000 but still seeing pressure from the foreclosure market. We were far below the $442,000 median price we experienced in August of last year and just above the 12 month average of $322,617. 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