Palm Beach County Holds Top Spot Nationally For Price Gains
Palm Beach County prices up 35 percent from last December
In an article featured in The Palm Beach Post, Kimberly Miller reports that Palm Beach County, FL earned the number one spot nationally for price gains for the month of December, up 35 percent from 2011.
According to the article, demand for homes by both investors and traditional buyers are driving the price gains, while inventory for both single-family homes and condominiums have decreased significantly.
Miller points out how some analysts offset the achievement of increased price gains with the dramatic housing crash, noting how it left room for improvement.
The report released by California-based ZipReality used data from the Multiple Listing Service and included single-family homes, townhomes and condominiums.
Some, like Jupiter-based Platinum Properties broker/assistant Kevin Ken met the report with skepticism. “Everything is really competitive, and we’re seeing situations where there are multiple offers again, but 35 percent seems high,” Kent said.
Lanny Baker, CEO of ZipRealty, says prices will continue to increase throughout 2013 and projects moderate and steady growth over the next several years.
Read Miller’s full article here.