Home Prices Increase in South Florida
The median home sale price jumped to $235,000 in Palm Beach County in February 2013, up 27% from a median price of $185,00 for the same time period last year. Home prices in Broward County are also increasing, as shown in the chart below.
The news is especially good for sellers of upscale Palm Beach County homes, with an average sales price of $761,754 in February 2013 compared with less than half that amount – $307,806 – in February of 2012.
As reported by the Sun-Sentinel.
Data from Florida REALTORS® indicates the average number of days a home sits on the market is dropping, due in part to a decrease in the number of homes that are actively listed for sale.
The single family home inventory in Palm Beach County now stands at 5.8 months, down 47% from 11 months in February 2012.
All of this is good news for home sellers, who are finding a higher number of motivated home buyers. Some buyers are reportedly bringing their checkbook when they view a property, ready to put down an immediate deposit on the home of their dreams. Sellers are receiving an average of 91.4% of their original listing price on recent home sales, up from 88.4% last year.
Fort Lauderdale Foreclosure Defense Attorney
Choosing the best approach to protecting yourself and your family from a mortgage foreclosure involves many legal considerations. Contact Fort Lauderdale mortgage foreclosure attorney Marcy Resnik to discuss how you can defend your legal rights in a foreclosure. You can contact Ms. Resnik online or call her at 954-321-0176.