West Palm Beach Homes Slowly Dropping in Price
Although the median price of homes in Palm Beach County dropped between June and July to just under $400,000, Palm Beach´s median price is still the second highest in the state, right behind Naples, Florida.
Stiff prices throughout the county aren´t slowing demand for West Palm Beach homes in some of the city´s more desireable neighborhoods. The only problem is that the inventory in said neighborhoods is low. It´s West Palm Beach homes at the higher end of the pricing scale that are staying on the market for longer, on average more than 90 days.
According to local real estate agents the inventory shortage is due to reluctant West Palm Beach home sellers "because of the doubling or tripling of taxes sellers face when they move to another house."
The West Palm Beach home market is "going through a slight correction," or in other words, it´s "balancing itself out." So while the West Palm Beach housing bubble may not be bursting, it is slowly and less violently disinflating.
Stiff prices throughout the county aren´t slowing demand for West Palm Beach homes in some of the city´s more desireable neighborhoods. The only problem is that the inventory in said neighborhoods is low. It´s West Palm Beach homes at the higher end of the pricing scale that are staying on the market for longer, on average more than 90 days.
According to local real estate agents the inventory shortage is due to reluctant West Palm Beach home sellers "because of the doubling or tripling of taxes sellers face when they move to another house."
The West Palm Beach home market is "going through a slight correction," or in other words, it´s "balancing itself out." So while the West Palm Beach housing bubble may not be bursting, it is slowly and less violently disinflating.
