As the economy begins to pick up again, the real estate market is also showing signs of a healthy recovery, including West Palm Beach real estate and West Palm Beach land.
Home Values on the Rise
This is verified by numerous statistics available from real estate research firms like Trulia and RealtyTrac:
- The average price per square foot for West Palm Beach real estate has grown by 56.5% since the same period last year and is now $180 per square foot.
- The median sales price for homes in West Palm Beach from November has also increased by 10.2%, or $13,000, since the same period last year.
- There is a significant decrease in the number of homes in the pre-foreclosure, bank-owned, or foreclosure process. This has been a key factor in helping home values begin to rise because the inventory of available homes is much smaller.
- The average listing price is $381,378 as of the start of February, showing an incremental increase of 6.5% from the start of 2015. Other listings, including those for mansions and condominiums as well as West Palm Beach land also all show a growth in their average listing price.
- All economic trends point to ongoing growth in West Palm Beach real estate home values throughout 2015.
Great Opportunities for Buyers and Sellers
What does this mean for a West Palm Beach real estate buyer or seller like you? The answer is opportunity for both to become a first-time homeowner, upgrade to a larger home, or invest in West Palm Beach land to build a dream home or multifamily property.
Contact the West Palm Beach Real Estate Experts
To learn more about the opportunities now available in West Palm Beach real estate, contact the real estate professionals today at Arthur Murray Real Estate who have a proven track record of helping homeowners get the price they want or helping others fulfill their American dream of homeownership.