The Real Deal Miami

Palm Beach County median price rises again

May 27, 2009 01:12PM

As first-time buyers and modest home prices in Palm Beach County continue to drive the housing market, home prices saw another increase in April — the second month in a row that home prices did not fall. The median price of a single-family home rose to $234,400, up from $228,100 in March, but still down 25 percent from a year ago. Palm Beach County also saw a slowing in the sharp decline of condo prices in April. The median condo price in Palm Beach County was $98,200, down slightly from March’s $99,800. Condo sales are also up 11 percent from last year. “Most of the sales are taking place in lower price ranges and activity is beginning to pick up in the mid-price ranges, but high-end home sales remain sluggish,” said Lawrence Yun, NAR’s chief economist.