The Real Deal Miami

Royal Pines Estates down 37.9 percent

May 18, 2011 10:44AM

The Royal Pines Estates development in Royal Palm Beach is down 37.9
percent from its 2006 peak, according to data from CoreLogic. The median
sale price in the 112-home development is down from a high of $362,500.
The median market value in the community peaked at $288,950 in 2006,
and fell 46.9 percent to just $153,466 last year. Of homes in Royal
Pines Estates, 98 have a homestead exemption, which means they are the
primary residence of a permanent resident of Florida. Seven of the
homes, or 6.3 percent, are in foreclosure. [Palm
Beach Post]