West Palm Beach Real Estate Sales Strong Because of Last Year´s Hurricanes
West Palm Beach real estate transactions reached a standstill last year after Hurricanes Charley, Frances, Jeanne and Ivan battered Florida in August and September. However, fall 2005 saw a market fraught with movement and energy. West Palm Beach real estate sales were strong, yet the Florida Association of Realtors cautions that these “sales increases don’t reflect the true state of the market,” they are simply soaring “on the winds of hurricanes past.”
The number of existing home sales nearly doubled this September when compared to the last. Plus the median price for residential West Palm Beach real estate rose 20 percent from one fall to the next, increasing from $332,700 to $400,000.
However, if we look at the true state of the West Palm Beach real estate market, all signs suggest that it is cooling. Sales over the past four or five months have been declining, and “the number of properties on the market is up 50 percent over the last year.”
The number of existing home sales nearly doubled this September when compared to the last. Plus the median price for residential West Palm Beach real estate rose 20 percent from one fall to the next, increasing from $332,700 to $400,000.
However, if we look at the true state of the West Palm Beach real estate market, all signs suggest that it is cooling. Sales over the past four or five months have been declining, and “the number of properties on the market is up 50 percent over the last year.”
