Values fall in Cypress Cove

The median market value in Jupiter’s Cypress Cove has fallen by 32.3
percent from its peak in 2006, according to data from CoreLogic. Cypress
Cove, which is just at the edge of northern Palm Beach County, has a
rate of 88.6 percent of homes with a homestead exemption, meaning they
are the primary residences of Florida residents. That number is higher than
the 77 percent rate countywide. In 2006, Cypress Cove’s median price of
qualified arm’s length transactions hit a peak of $604,900. The
community saw just one sale last year, for $445,000. [Palm
Beach Post]