Northern Palm Beach home buyers pull back in May
By Tom Priester, Paradise Sharks
(Paradise Sharks )
Two weeks into May and we can see the strength we saw from home buyers in the Jupiter area during April has slowed. Through May 1st we have had 1,775 resale properties successfully close in the Northern Palm Beaches. When you compare that to last years volume of 1,985 you can see we have a long ways to go to keep pace with 2015’s record numbers. However, even with slowing demand median prices in the region for that period have moved from $294,900 to $308,000 for a year over year gain of 4.4%. Right now most of that gain can be attributed to the condominium market. April was the first month this year we had improved upon 2015’s performance in pending home sales and gave us an opportunity to start playing catch up. There is no doubt we can do it if buyer demand stays relatively strong o...
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