Jupiter and Palm Beach Gardens are the primary territories of Waterfront Properties and Club Communities, and the company has witnessed the market improvements that occurred in the Spring continue through the summer.
Jupiter, FL (PRWEB) July 27, 2012
The real-estate Web site Zillow's reported the town of Jupiter’s median-home-value increased 5.4 percent, and the city of Palm Beach Gardens’ median-home-value increased 5.1 percent during the second quarter of 2012.
Jupiter and Palm Beach Gardens are the primary territories of Waterfront Properties and Club Communities, and the company has witnessed the market improvements that occurred in the Spring continue through the summer. Its agents and brokers have hundreds of listings on the market and have closed more than 80 deals in June and July.
Zillow also reported a 6.4-percent increase in home values in the South Florida counties of Palm Beach, Broward and Miami-Dade in the second quarter of 2012, and said the positive bump in numbers is expected to continue through 2013.
An economics professor at Florida International University had one word for the good news: dramatic.
The increases in the worth of single-family homes in the region put South Florida in second place, behind Scottsdale, Ariz., out of 150 metropolitan areas included in the Zillow Home Value Index. Scottsdale’s values leaped 12 percent in the second quarter and are expected to remain high, also, through 2013.
The numbers alarmed analysts at Zillow, who said home values in both South Florida and Scottsdale bottomed out in 2011, making a rapid and robust recovery in 2012.
The median value of a single-family home, which includes condominiums and townhomes, in Palm Beach County was $145,000, according to Zillow, a 3-percent rise from the first quarter and the sixth straight month that home values have improved. Breaking the numbers down further, Zillow reported Jupiter’s median-home value at $226,000 and Palm Beach Gardens’ median-home value at $226,300.
The local market is mirroring – and has exceeded by two months – the national market, which has experienced home-value increases for four consecutive months. Stan Humprhies, Zillow’s chief economist, said the latest index and positive numbers prove the real-estate market has hit bottom and has nowhere to go but up.
For information, call Rob Thomson at 561-746-7272.