Tequesta Single Family Home Sales Stay Above 12 Month Average
Another month rolls on, summer is now officially in the rear view mirror, as we start off the fall season looking back at sales during August in the north county area. This month we are going to start giving our “power rankings” of the different municipalities and will post the blogs starting with the lowest ranking and continuing through the star of the month. So here for our first ever power rankings are the results for August;
#1 North Palm Beach
#4 Palm Beach Gardens
#5 Juno Beach
#6 Hobe Sound
This month’s fifth report with the #2 ranking is single family home sales in Tequesta which have really been treading water at decent levels over the past seven months. We are also staying above the 12 month average which stands at 10.58 and is a good sign of further stabilization in the Tequesta market. As of this morning our MLS system shows a total of 12 successful closings in August which was just slightly ahead of the 11 we had in July and also ahead of the 10 sales we had in August of 2010.
While sales levels picked up slightly they were also represented in all categories except the under $150,000 price level where there really is little to no inventory. Sales were evenly split both above and below the $500,000 threshold over the past 30 days. The second chart shows the percentage of sales by price category for the month of August.
With solid sales throughout all price levels and excellent higher end sales we should expect good median sales prices figures and that is what we got with a huge increase over the July numbers. August numbers came in at $448,500 which was well ahead of the July median price of $260,000 but still seeing pressure from the foreclosure market. We were fairly even the $431,250 median price we experienced in August of last year and well above the 12 month average of $391,083. We were very happy to report last week that foreclosure numbers were down for the 4th consecutive month which is the first step in getting prices to move higher. The final chart shows median prices on a monthly basis over the previous 12 month period.
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