Palm Beach County Single Family Home Prices Continue to Climb

North County Median Home Prices Hit $400,000

Wow, talk about a straight up climb as we get back up to the $400,000 benchmark. We have not seen that number here locally since 2007 and only at the height of the bubble from 2005 through 2007 have we ever seen higher numbers. In 2004 the average median price was $375,000. In 2008 it was $350,000 so you can see prices are climbing and we expect that trend to continue. Who knows but the 2014-2015 season is shaping up to be a barn burner and while we still trail the $485,000 we saw in 2005 we may not be too far from that in the upcoming year. Time will tell.

Median SF Home Prices

As of July 1st the median single family home price in the north county region jumped another 3.6% over the past 30 days. Looking back to July 1st of last year prices are up a hefty 12.3%. As we reported just days ago pending home sales in the area dropped for the 2nd straight month to a new 4 month low. Inventory however seems to be the main culprit and the choices buyers have today continue to dwindle. As of July 1st they had dropped for 4 consecutive months to the lowest levels we have seen since last November.

Interesting times indeed and while the summer months here in south Florida the market tends to pull back the prices realized continue to climb which is a very bullish sign indeed. If you are contemplating a real estate transaction in the coming months pay very close attention to the numbers in the neighborhoods you are watching. We are always on standby to provide a complete and complimentary analysis of any property throughout Palm Beach or Martin County. As we tell all of our clients, you can always pay more and receive less but that just would not make any sense. So keep the Paradise Shark team in mind for any real estate decisions here in paradise. Complete information is your best friend when it comes to making knowledgeable decisions. Always interesting, always fun.

Fins up……….

Tom Priester
Principal Broker

Paradise Sharks Real Estate

561.308.0175
tom@paradisesharks.com

http://www.paradisesharks.com

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Tom Priester

After spending years among the top individual performers at one of Palm Beach County’s largest and most successful real estate brokerages, Tom Priester knew there was another way to do real estate. A better way. Real estate services focused on the customer. Like the old days when the customer truly was #1. He tired of listening to why he should be going out to have his customers sign one sided buyers’ brokerage agreements. He tired of hearing how he should be selling customers why paying higher commissions, like 7% and 8%, was to their benefit. He tired of hearing how he should sell his clients on why they should be paying hundreds of dollars in additional “transaction fees”. The business had slid way too far from being focused on the customer. His customer. So he decided the time was right to be different…..by design. To start his own unique boutique real estate firm truly focused on his customers. They will now have access to a process focused on them. Only the best marketing techniques to sell their homes. No cutting corners. Commission structures based on his clients needs not his. Paradise Sharks was born out of Tom’s passion to return this business to the customer. Where it belongs. If you want a real estate experience that benefits you, just give Tom a call at 561 308-0175 or send him an e-mail at tom@paradisesharks.com. You can always pay more and receive less but that just would not make any sense. Would it?

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