I examined the area between Forest Hill Blvd to the North, Lake Worth Rd to the South, the Florida Turnpike to the East and S Shore Blvd to the West. Trend analysis of MLS single family home sales in the neighborhood indicates a decreasing sales and absorption rate with increasing values year over year. There is currently a 5.2 month supply of homes for sale in the neighborhood. The median sale price in this area for the prior 3 months is $427,000. The median list price is $600,000. The median days on market for listings is 105 days.
Today we take a look at PGA National home of the Honda Classic. Trend analysis of MLS single family home sales in the neighborhood indicates a increasing sales and absorption rate with generally stable values year over year. There is currently a 4.9 month supply of homes for sale in the neighborhood. The average median sale price for the prior 3 months was $426,000. The median days on market is 45 days. The median list price is $532,450.
A new hotel/office tower is being proposed in downtown West Palm. The proposed building would be located on the 1.13-acre site at 419 to 435 Gardenia Street and 415 to 417 S. Dixie Highway.
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I recently studied the Acreage/Loxahatchee neighborhood. According to analysis the sale prices in this area are still increasing. The total amount of sales per month are slightly decreasing. The median listing prices are increasing as owners are pushing to see how high values will go. The median comparable days on market is roughly 35 days. So what that is saying is if you have a house for sale in this area and has been out there for well over 35 days you may have priced your house too high.
Today I have done a market analysis of single family homes for the north end of Palm Beach. The median sale price for the prior 3 months was almost $3,000,000. Which would put values at just about stable year over year. The total sales/month (absorption rate) year over year has been slightly decreasing. The median days on market for closed sales has been roughly 100 days. So basically if you have your property listed right now in this area and it has been on the market for well over 100 days it is possible that your are asking too much for your property. If you’re not sure if you have your property listed at the right price just give me a call.
There are roughly 53 active listings in this area which comes out to about a 16 month supply of houses. The median comparable list price for the past 6 months has been steady at $5,200,000, however that is down from $5,995,000. The median sale price as % of List price is about 91%.
If you have any questions about your property or need help finding a property please call me, 561-729-3382 or email me at firstname.lastname@example.org.
7/7/2015 – Today PBCSHINE is looking into the western Lake Worth area from Lantana Road (N) to Gateway (S) and Military Trail (E) to the Florida Turnpike (W). This area has many PUD communities including Winston Trails, Smith Farm, and Lake Charleston.
We conducted an analysis of single family detached home sales in the area indicated an increase in median values with a median sale price currently of approximately $285,000. There is currently a shortage of homes on the market with slightly less than a 3 month supply of homes for sale.
Today PBCSHINE is looking into El Cid in West Palm Beach. I’ve looked into the active listings and closed sales of single family homes from 07/02/2014-07/02/2015. According to research gathered through MLS the total absorption rate (total sales/month) have been steadily increasing year over year.
Currently there is almost a 3 month supply of active listings on the market with a median comparable sales price of active listings being $899,000. Last year of active listings the median comparable sale price was $729,000. The median comparable closed sale price for the prior 3 months is in the $670,000 range. The median comparable sales days on market for closed sales for that same time period is 76 days.
This morning PBCSHINE will be taking a look at the historic neighborhood of Flamingo Park in West Palm Beach.
I have analyzed single family home active listings and closed sales from 07/01/2014-07/01/2015 in Flamingo Park. According to the data collected the total sales per month have been increasing year over year. The total active listings from last year to this year have maintained relatively stable with a roughly 3 month supply of housing in the neighborhood. The median comparable sales price has slightly increased from year to year. The median comparable sale price for Flamingo Park is around $330,000.
This morning PBCSHINE is doing a spotlight of 2 bedroom/2bathroom condo’s in downtown West Palm Beach. I’ve done a analysis of sales and active listings from 06/30/2014-06/30/2015 in the defined neighborhood of Banyan Blvd to the North, Okeechobee Blvd to the South, Flagler Dr to the East and Sapodilla Ave to the west.
According to my analysis of closed sales the absorption rate (total sales per month) is steadily increasing year over year. There is a lot of action going on in downtown West Palm Beach. Analysis of the median comparable sales prices showed slight fluctuation for the first three quarters with values relatively stable, however in the final 3 months a slight increase in value was noted.
When observing the active listings on MLS there is a noticeable increase in listings on the market with a definitive increase year over year. Currently there is a 6 month supply of 2/2 condo’s in this area, with a generally stable list price year over year.
With the All Aboard train station already under construction on 2 acres of land near Quadrille Blvd between Evernia and Datura, comes plans from the developer approved by the Palm Beach County Commissioners to turn 6 acres of land near the Tri-Rail station into a “Transit Village”. Located a few blocks to the west it would include a 13-story hotel; a 21-floor office building, a 25-story apartment complex and 33,000 square feet of retail space. The full story is linked below.
Artists’ renderings of the latest design plans for the “Transit village” planned for the West Palm Beach train station on Tamarind Avenue. (supplied).