Palm Beach County Home Sales Strong- Inventory Shrinks And Prices Decline
The median price of a home in Palm Beach County fell to $180,300. That means that half of the homes sold in Palm Beach County sold for more and half of the homes sold for less. The prices fell about 20% last month overall in the county of Palm Beach.
But buyers are out and ready to buy and inventory is shrinking while prices continue to decline for another few months or so.
Sale of homes on the market are strong. We have negotiated short sales in the 1990’s recession, 1980’s recession and starting in 2007 in the current recession and housing bust. During 2008 and 2009 it was not uncommon for us to have 50 to 70 short sale listings in our inventory. But that number has changed.
In 2007 very few agents other than ourselves would even touch a short sale listing and the banks knew a whole lot less than they do now about how to process a short sale. Now many agents are taking short sale listings as inventory shrinks, those that know how to negotiate short sales and those that don’t.
When this happens in a market proactive brokers need to see where the market is heading and be there and ready for the shift.
In September of 2010 the median price for a home in Palm Beach County was $225,900. So you see, it did drop again.
For more information about how the market is doing in your specific town in Palm Beach County contact Nestor and Katerina Gasset at 561-753-0135.
Katerina Gasset is the author of http://www.wellingtonfloridashortsales.com. Katerina Gasset is the homeschool mother of 9 children and wife to Nestor Gasset. Katerina Gasset is also a writer, author, speaker, Realtor®, SEO coach, blogging coach and business entrepreneur and consultant.