The Real Deal Miami

Sandhurst values down 42.6 percent

June 03, 2011 12:21PM

The Sandhurst development west of Boynton Beach has seen its market
value fall 42.6 percent from the boom, according to data from CoreLogic.
Just two of Sandhurst’s 104 homes are in foreclosure, however, and 88.5
percent of the homes have a homestead exemption, meaning they are the
primary residence of a permanent Florida resident. The area’s value
peaked in 2006, when the median market value for a home in Sandhurst was
$336,452, but that number fell to $193,102 last year. According to the
Palm Beach County Property Appraiser, the median price of qualified or
arm’s length transactions was $205,000 in the area. [Palm
Beach Post]