Jupiter, FL (PRWEB) September 07, 2012
Single-family-home transactions in Palm Beach County escalated a respectable 21 percent in July 2012, compared to July 2011, according to the Realtors Association of the Palm Beaches.
The association coupled that nugget of good news with data showing the median price of single-family homes for sale in Palm Beach County increased 15 percent during the same period. July is the latest month for which figures are available.
Realtors Association of the Palm Beaches President Bonnie Lazar said the report indicates Palm Beach County is in good shape on the real-estate front because prices are on the incline and foreclosures are on the decline.
With a median price of $217,500, a total of 1,247 previously owned residences sold in July. Inventory sits at an approximate five-month supply – a dramatic improvement from July 2011, when there was an 11-month supply.
Realtors at Waterfront Properties and Club Communities one of the premier brokerages in Palm Beach County, said the report is a promising sign the ideal marketplace – one that experiences steadily increasing prices, a growing number of buyers and a six-month supply of homes – is closer than previously thought.
Statewide, the picture is as rosy as in the county. The Federal Housing Finance Agency released its house price index report in August and concluded Florida ranks third in the nation for increased property values.
The median price of a single-family home in the state is $148,000 -- higher, by eight percent, than the same period in 2011, according to the report. Up 10 percent in Florida, from 2011, are sales of existing homes.
Florida’s 7.4-percent house-price jump follows Arizona, which saw a 13-percent jump, and Idaho, which placed second at 8.6 percent. The Federal Housing Finance Agency recorded the average house-price increase nationwide as 3 percent.
Both the Realtors Association of the Palm Beaches and Federal Housing Finance Agency are watched closely by Waterfront Properties’ sales associates so they can stay informed about real estate in Jupiter, Tequesta, Hobe Sound and other communities in the northern Palm Beach County and southern Martin County areas. The firm has been in business for more than 30 years and specializes in homes for sale in Abacoa, Tequesta Country Club, Loblolly and the picturesque city of Stuart, the site of one of its three offices. Waterfront Properties’ headquarters are in Jupiter, and there is an ancillary office in North Palm Beach
For information, call Rob Thomson at 561-746-7272.