Archive for May, 2009

Here is the latest news on home prices in Palm Beach County and across the U.S.

While I have seen a noticeable uptick in the number of transactions taking place, there is still downward price pressure given the amount of short sales and bank foreclosures currently on the market.  This news gives us  some hope that the worst rate of price declines is behind us.

Standard & Poor’s Case-Schiller Home Price Index, a measure of prices in 20 major cities, fell 18.6 percent in February from February 2008. Prices now are what they were in 2003.

But for the first time in 16 months, the drop didn’t set a record.

In metropolitan Miami, which includes Broward and Palm Beach counties, year-over-year prices fell 29.5 percent, but that wasn’t worst in the nation. Phoenix was off 35.2 percent, Las Vegas was down 31.7 percent and San Francisco fell 31 percent.

The index is considered a strong measure of home prices because it examines price changes of the same property over time, instead of calculating a median price of homes sold during the month, as the Florida Association of Realtors does.

POSTED IN: South Florida home prices (20)

Current Market Snapshot (5/18/09)

Current Market

53 properties currently on the market

• 2 properties are under contract (pending)
• 17 properties are under contract (contingent)
• 34 properties currently available for purchase

Properties currently available

• 14 are traditional sales
• 17 are short sales
• 3 bank owned

Prices

• $197,000  to $695,000

Square Footage

• 2,130 to 4,215

Sold Properties

• In the last 90 Days 11 properties have sold
• Average size was 4 bed 2 bath with 2,338 under air
• Average sales price per square foot was $95  per square foot
• average days on market was 190

Looking in Madison Green?  Let me put my market knowledge to work for you.  Contact me for showings or questions… or for a comprehensive market analysis and pricing strategy for Madison Green in Royal Palm Beach.  Looking in other communities, I have Community Market Snapshots for other communities, contact me for a copy.

SPACIOUS 5 BEDROOM 5 BATH ESTATE POOL HOME WITH LAKE VIEWS! NEUTRAL STONE-LIKE TILE THROUGHOUT LIVING AREAS & NEUTRAL CARPET IN BEDROOMS. DEN/STUDY WITH WOOD FLOORING. UPGRADED KITCHEN WITH WOOD CABINETRY, GRANITE COUNTERTOPS,OVEN AND A BUILT-IN COUNTERTOP RANGE. ALL BATHROOMS FEATURES WOOD CABINETS, GRANITE COUNTERTOPS AND NEUTRAL DECORATOR TILES. THE EXTERIOR HAS A COVERED PATIO AND BALCONY OFF MASTER. TWO OF THE GUEST BEDROOMS FEATURE JULIET BALCONIES. THE BACKYARD HAS A LAKE VIEW AND SWIMMING POOL WITH JACUZZI FOR LOVELY FLORIDA AFTERNOONS. THIS IS AN AMAZING OPPORTUNITY!

• 5 Bedrooms
• 4.5 Baths
• 3,658 Living Sqft
• 3 Car Garage
• Waterfront
• Pool