Those of us lucky enough to live in Palm Beach County know living in paradise offers us a very high quality of living. Sunshine, beaches, palm trees, surf, golf courses, shopping, snorkeling, dining, fishing, margaritas; the list goes on. But there is not doubt that living in paradise is not an inexpensive proposition. Affordability is one of our key challenges as single family home prices in the area have moved higher now for five consecutive years.
The old saying when it comes to the most important factor in real estate prices is location. In fact, the saying is actually location, location, location. Location drives prices and when looking back at the highest median prices of single family homes in the 11 largest Palm Beach County markets ranked by number of sales in 2016 there is one location that stands out. In reality it is not even close. If location determines price then the very best place to live in paradise is the Northern Palm Beaches.
Throughout Palm Beach County well over 16,000 single family homes sold during 2016. The county wide median price for the year sits at $325,000. Of the largest markets by number of sales only three had median prices above $400,000. Jupiter at $450,000. Tequesta at $440,000. Palm Beach Gardens $430,000. Location, location, location. If you want the best of living in paradise the numbers do not lie. Location determines price and in 2016 the Northern Palm Beaches tops the charts. And it was not even close.
If you are considering a home in paradise please interview at least three real estate brokers. Find out what they can do to assist you in meeting your goals and what value they add to the transaction. Here at Paradise Sharks we take great pride in adding value to every transaction. If you are buying or selling real estate anywhere in Palm Beach or Martin County we would love to be interviewed and earn your respect and business. Schedule your interview anytime at firstname.lastname@example.org or 561.308.0175.