Monthly Market Summary Paints Pretty Picture for Waterfront Properties

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A recent report by Florida Realtors shows increases in both home sales and prices.

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The other statistic that is up is sale prices. The median sale price of a single-family home is $229,750, compared with $190,000 in the year prior – a 20.9-percent increase.

Florida Realtors, with data supplied by the state’s multiple listing services, has issued its latest monthly report on single-family homes, townhouse and condominiums in Palm Beach County and reported sales and sale prices have jumped significantly.

The year-over-year increase in sales – from December of 2011, to December of 2012, the latest month for which statistics are available – is 14.3 percent for Palm Beach County homes. In December of 2011, a total of 1,036 deals closed, and in December of 2012, that figure rose to 1,184.

The numbers are just as rosy when it comes to sales of townhouses and condominiums in Palm Beach County. According to the report, 1,122 units were sold in December of 2012, compared with 1,058 units in December of 2011, a 6-percent increase.

The other statistic that is up is sale prices. The median sale price of a single-family home is $229,750, compared with $190,000 in the year prior – a 20.9-percent increase. The average sale price of a residence is up 27.2 percent, to $430,780, compared with $338,562 in December of 2011.

On the townhouse and condominium side, the median sale price is $98,750, a 34.4-percent rise from the previous year’s $73,500. The average sale price rose 54.3 percent to $206,504, up from $133,800.

Waterfront Properties and Club Communities shared the good news with its team of agents, who list not only Jupiter homes for sale, but real estate throughout the county. Several factors have led up to the improvements in the marketplace, including relatively low home inventories, record-low mortgage-interest rates and consumer confidence not only from the real-estate recovery but from the economic turnaround the country is experiencing.

The report was issued by Florida Realtors on Jan. 22. The next report, covering the month of January, will be issued Feb. 21.

For information about housing in Palm Beach County, call 561-746-7272.

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Rob Thomson
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