Median Northern Palm Beaches Home Price Up to $434,000

Median single family home price increases for the 5th straight month

With Shark Week kicking off there are so many things we are looking forward to. But no doubt doing our monthly update of the median sales price for a single family home in Palm Beach Gardens and the neighboring communities is a real pleasure. That is if you already own a home. Because if you don’t, you are not benefitting from the incredible ride we have been on since February 1st.
Median Prices

Back then the median priced single family home in the was $363,700. Today, we stand at $434,000. A very healthy 5 month increase of $70,300. That’s an increase of $472 a day, every day since February 1st. We have now taken out the median high prices achieved in 2007 and only have the bubble years to surpass before we reach a new all time high. A new 9 year high.

Over the past 30 days prices have moved higher by another 3.3%. Since February 1st they are up over 19%. These are historic moves. Strong moves. Incredible news. Inventory levels dropped again last month and there is very little quality selection out there in the Palm Beach Gardens area. Buyers are scrambling to get in. It is starting to feel a whole bunch like 2004. Not sure that is a good thing but it’s where we are.

Interest rates have been moving higher, the price tag on a home is heading higher so home affordability in, and around, Palm Beach Gardens is not what it was just a few months ago. With projects like Sonoma Isles and Alton coming on line prices are moving higher. You might be able to snag a new single family home in DiVosta’s new community just under $700,000 but that probably isn’t going to be possible in the new Kolter community.

We keep telling you it’s going to be an interesting summer and we keep watching for a sign that this freight train is going to slow down. So far we see nothing in the tracks to make that happen.

Fins up…..

Tom Priester
Principal Broker

Paradise Sharks
561.308.0175

info@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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