Mark Loewenberg PA 561-214-0370: Monthly Market Report For Single Family Homes In Palm Beach County

Monthly Market Report For Single Family Homes In Palm Beach County

Monthly Market Report For Single Family Homes In Palm Beach County

Palm Beach County’s median price for existing single-family homes in April was $272,375, just 3 percent higher than a year earlier, according to the Realtors Association of the Palm Beaches.  Home sales increased slightly last month from a year earlier.  With 1,478 closings, sales were 5 percent higher this April compared to last.  Over the past two years, there has been a shortage of homes for sale.  But listings in Palm Beach County are on the rise as sellers feel more confident that they can get the prices they want.
 
South Florida sellers aren’t seeing as big a bump in home prices as they did last year.  The percentage increases have slowed considerably in recent months. In 2013, median prices were soaring, with year-over-year gains above 20 percent.  Real estate has settled into a more normal market wherein homes traditionally appreciate about 4 percent per year.
 
Traditional, or non-distressed, home sales continue to become an increasingly larger share of the South Florida market.  There are fewer short sale listings primarily due to the termination of the federal tax exemption on forgiven mortgage debt that expired at the end of 2013.  That means, the portion of the mortgage debt forgiven by the seller’s mortgage company or bank during the short sale process is now taxable. 
 
 



 

 

 The data above represent Palm Beach County.
Would you like to know what is happening in your neighborhood?
Would you like to know the value of your home?
Do you need help deciding whether to sell or not or would you like to know if now is the right time to buy?


I am very happy to get you that information.

Just call Mark Loewenberg PA at 561-214-0370 or visit www.ForSaleHomeSearch.com to view the available inventory! 

Mark Loewenberg PA

561-214-0370

Broker Associate
Keller Williams REALTOR®

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Comment balloon 5 commentsMark Loewenberg • May 28 2014 05:38AM

Comments

Mark your Palm Beach Market report is very well done and detailed. Your market time has really gone down. Florida has really turned around the last few years. Mark Loewenberg is a fine choice in a Professional Realtor

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) over 6 years ago

thank you Noah! stats are always a fun read, how buyers are benefiting is what the real world is all about!

Posted by Mark Loewenberg, KW 561-214-0370 (KW of the Palm Beaches) over 6 years ago

Mark,

 Those are still some really good prices! Our prices have soared the last 2 years but like your market have usually low appreciation but steady year after year!

Posted by Yolanda Cordova-Gilbert over 6 years ago

A annual 4% increase in values is sustainable Mark.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) over 6 years ago

Thanks for the report, Mark.  I am feeling quite confident about our market and feel that the current slower rate of growth is better than the super heated rate of last year.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) over 6 years ago

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