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.
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.