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Palm Beach Luxury Oceanfront Real Estate Prices are Rising

July 31, 2012

The news is getting better all the time for Palm Beach real estate owners. The value of luxury waterfront real estate is going up in Palm Beach County, according to the Realtors® Association of the Palm Beaches.

“Pending and closed sales are moving in an upward direction in Palm Beach County, which is very reassuring,” said Bonnie Lazar, President of the Realtors® Association of the Palm Beaches. “In addition, February’s median sales price, based on all properties, is up from the previous month and the inventory of homes for sale is down.  This clearly illustrates that Palm Beach County is experiencing a mini-recovery and better times are ahead.”       

As sales increase throughout Palm Beach County the inventory of luxury oceanfront condos is decreasing. This may turn around as luxury real estate owners realize that the price of their property is going up. This is one of the best times in history to buy a luxury waterfront condo. The interest rates are so low they are practically nonexistent. If you have been considering selling or buying a luxury waterfront condo now is a great time to move forward.

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