If you're a buyer, it's a great time to contact a professional Realtor with Florida Executive Realty Management Corp.

A recent release from the Realtor Association indicates Single-family homes continued selling at a steady clip in the third quarter of 2009, increasing 33 percent statewide over the same time last year, and jumping 31 percent in Palm Beach County.

It's a momentum partly driven by the $8,000 first-time home buyer tax credit.

The extended tax credit will help continue to absorb, not just the foreclosures that we expect to see in the pipeline, but a balance of homes."

First-time buyers who sign a contract on a home by April 30, 2010. Buyers who have been in their current home for five consecutive years or more are also now eligible for up to a $6,500 credit.

Foreclosed homes and distressed properties are moving quickly. The bargain-basement sales have pushed down median home prices when compared to 2008.

In Palm Beach County, the median sales price in the third quarter was $244,500, compared to $300,200 in 2008. Treasure Coast homes saw their median price drop from $150,600 to $111,200 a 26 percent decrease.

But while year-over-year prices decreased, they remained mostly stable locally when compared to the first and second quarters of 2009.

Palm Beach County median home prices grew $4,100 in the third quarter compared to the second quarter. Treasure Coast prices dipped $700.

 










 


Florida Executive Realty Management Corporation
5201 Village Boulevard   West Palm Beach, FL 33407   Telephone (561) 687-1901   Fax (561) 687-1904   info@fermc.com