PALM BEACH GARDENS HOMES SALES SPIKE AS PRICES DRIFT HIGHER

The number of single family homes and condos sold in Palm Beach Gardens and throughout Palm Beach County increased significantly in October as prices drifted slightly higher.

More than 840 single family homes and over 760 condos were sold in October, an increase of 36 percent over October 2008 for single family homes and nearly a 60 percent increase in condo sales for the same period, according to statistics released today by the Florida Association of Realtors.

And median prices are starting to drift upwards again, with single family homes at $243,900, slightly higher than the September number of $242,900 and condos at $109,300, a few thousand more than the September median price of $106,700.

Many believe the heavier sales volume is the result of the federal government stimulus providing tax credits of up to $8,000 for first time homebuyers within certain income levels.  The stimulus program, orginally set to expire at the end of November, has been extended into the spring and expanded to include additional homebuyers within specific income brackets.

The tax credit coupled with low mortgage interest rates and an apparent bottom to the housing market is expected to continue to stimulate the local housing market as more buyers come forward to select and settle on new homes.

Inventory of homes is still high providing buyers with excellent selections in every price range. It is a great time to buy in Palm Beach Gardens and, if you have interest in either buying or selling a home, The Weiss-Clawson Team would like to talk with you.  We do market research through Palm Beach Gardens and Palm Beach County to provide the most up to date information for our clients.  You can contact The Weiss-Clawson Team directly.  We look forward to hearing from you and to working with you.

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