• 

Featured Listing

7900 Fairway Lane (Ironhorse Country Club): $ 750,000
Bedrooms: 3, Bathrooms: 3

Market Report - Apr 09

WE'RE OPTIMISTIC ABOUT SPRING HOME SALES
AFTER BRISK WINTER SEASON 

With the winter season winding down, we are optimistic about home sales this spring.  We have already been contacted by many people who are coming into the area during the next few months with the expressed purpose of buying a home in Palm Beach County.

Traditionally, the winter season brings the highest number of sales in our area simply because there are more people here.   But for the past couple of years we have also seen savvy buyers arrive in late April, May, June and July to hunt for bargains among the many homes for sale.  With interest rates at their lowest point in a generation, an $8000 incentive for first time homebuyers and a large inventory of homes on the market, many at reduced prices, we are expecting as busy a spring and early summer selling season as we had during the winter.

While the volume of sales increased during January and February of 2009 compared to the same months in 2008, prices continued to decline.  From January 2008 through December 2008 the median price of a single family house in Palm Beach County declined about 33 percent.  We are expecting continued increases in sales volume through the first half of 2009 and a slower rate of price decline.  Yet the number of homes for sale remains high.

Here is current (April 10, 2009) information on northern Palm Beach County communities that we follow closely through the Multiple Listing Service:

 

COMMUNITY	# CURRENTLY ON MARKET	LOWEST PRICED SINGLE FAMILY HOME		# SOLD IN 2009	# UNDER CONTRACT
Ironhorse	35	$270,000		2	3
Steeplechase	18	$599,000		1	0
Ibis	198	$149,000		20	10
Mirasol	136	$449,900		18	13
BallenIsles	131	$299,000		6	7
PGA National	259	$189,900		51	22
Frenchman's Reserve	52	$798,000		4	8

The Weiss-Clawson Team has expertise in all of these communities and welcomes inquiries from our neighbors, clients and friends about these or any community throughout Palm Beach County.  We do up to date research to ensure our clients achieve the best possible price for their sale or purchase.