The Real Deal Miami

Palm Beach home sales see double-digit drop

May 14, 2008 10:54AM

The median price of a Palm Beach County single-family home dropped 12 percent to $334,500 in the first quarter, compared to the first quarter 2007, according to the Florida Association of Realtors. The median condo price fell 27 percent to $153,600. On the Treasure Coast, the median home price plunged 28 percent to $172,600, while the average price of a condo fell 19 percent to $159,300. Sales volumes were down across the board, with the exception of a small increase in single-family home sales in the Treasure Coast, by 1 percent.