Old Palm News - Palm Beach County home prices rise 35%—the highest in America

Palm Beach County home prices rise 35%—the highest in America

January 23, 2013

Growth 150x150

Considering all the advantages of living in Palm Beach County, especially in Old Palm Golf Club, it’s no wonder that home prices have spiked. According to ZipRealty, the median price of a home in the county climbed a staggering 35% in December from the same time the previous year. No other place in the entire nation had a higher gain in prices. It’s a matter of supply and demand. The low inventory of homes and home sites throughout the county has driven up prices. In some cases, the competition among buyers has resulted in multiple offers at full or even more than the asking price. Local brokers expect home prices continue to rise in 2013, although the gains may be more modest. “Over the past year, sales in all three neighborhoods at Old Palm have been spectacular,” says Connie McGinnis, Director of Sales. “In 2012, we sold 24 estate properties for a total of more than $62 million. This year looks to be just as promising thanks to our unparalleled selection of homes and Old Palm’s extraordinary on-site sales team.”

Categories

Subscribe to Our Newsletter