More than 1100 single family homes were sold in Palm Beach County in March compared with just 738 homes sold in February, an increase of about one-third.  At the same time, the median price of a single family home in the county dropped to $186,500, nearly 10 percent below February prices and down almost 25 percent from a year earlier. 

The buyer’s market continues as fabulous deals can be found in almost every community throughout the area. 

Distressed home sales -- foreclosures and short sales -- continue to dominate the market in many communities resulting in depressed prices.  And the majority of homes sold in recent years have been the lower priced properties. 

As a point of reference, the median price of a single family home in Palm Beach County, now $185,500, is down 55 percent from the highpoint in October, 2005 when the price soared to $416,500. 

Condos within the County have fared even worse.  While condos sales increased 32 percent in March compared with February, prices continued to slump, dropping to a median price of $75,600. That is a decline of 66 percent from the high point in condo prices found in March, 2006 at $224,600. 

While declining prices are delighting buyers, sellers continue to fret about the prices they can achieve for their homes.  If you are selling a home in today's market, it is important to work with a knowledgeable realtor who has a handle on market prices in your community. 

The Weiss-Clawson Team researches market prices in most communities throughout Palm Beach Gardens and Palm Beach County.  If you are buying or selling a home in the area, we would like to work with you. Please contact The Weiss-Clawson Team directly.  We look forward to hearing from you.