Palm Beach County home sales up 24 percent

A home for sale in West Palm Beach

The total number of home sales in Palm Beach County rose by 24 percent in 2011, according to data from Florida Realtors, the Palm Beach Post reported. “It’s been a long down cycle, but it can’t last forever,” said Bill Richardson, president of the Realtors Association of the Palm Beaches. “I really do believe we are in a recovery. It won’t be meteoric, but there will be a steady climb.” The median sales price for single-family homes in the county fell, however, to $193,700. But in Decembe, Palm Beach County sales prices roses 5 percent, a sign that prices could be stabilizing. “There’s a pretty good amount of stabilization and a little increase in pricing,” Richardson said. In the town of Palm Beach, the condominium market was particularly strong, with sales jumping 30 percent in 2011. [Palm Beach Post]