West Palm Beach Real Estate

West Palm Beach real estate offers an exciting blend of homes set in a mix of communities. Buyers looking at their West Palm Beach real estate options will find single-family homes, condos and townhouses in a variety of neighborhoods appealing to different life styles. Buyers can find gated, golf and active-adult communities on the waterfront, as well as condos or lofts in a bustling downtown environment. West Palm Beach is known for its historic districts, some with family-friendly environments. Several of these districts are listed on the National Register.

The median home price for West Palm Beach real estate in 2003 was $252,900, with an appreciation rate of around 10.7%. Single-family homes may start around $100,000, but the price tag on an estate home will easily be well up into the millions for estate homes. Condos and townhouses start in the $100,000s for smaller units; prices for waterfront property can be in the millions.

In January 2004, the median sales price for homes in West Palm Beach was $265,200. up 20% from the $221,500 reported in 2003. According to the Florida’s Realtor report, just over 1,000 single-family homes were sold, up 13% from the same 2003 period.

In the past decade, West Palm Beach has seen massive redevelopment downtown. Rising out of the dust, a $375 million development called City Place has brought residential and commercial real estate option to the area. This Mediterranean-style architecture is a 77-acre complex that has helped energize the entertainment and cultural districts.

West Palm Beach has joined many other Florida cities in offering loft-style living. A new addition in 2004 to the downtown area is The Villa Lofts. The 38-unit loft building offers views of the Intracoastal Waterways and is within walking distance of shopping, restaurants and night life in downtown West Palm Beach. Prices for Villa Lofts units range from $300,000 to $700,000.