A sampling of area sales
To illustrate my comments about some buyers being able to afford more for their budget, here are a few sales in area neighborhoods this year and last year:
Princeton Place, west of Boynton Beach
These homes built in 1994-1996 are now selling for 15% less than a year ago. With a budget of $325,000 you can now get one more bedroom, an extra garage space, and 400 more square feet of area than in 2006.
4781 Purdue – 4BR, 2000 sqft, sold Feb ‘06 for $375,000  |
4629 Purdue – 4BR, 2000 sqft, sold May ‘07 for $320,000  |
4834 McGill – 3BR, 1600 sqft, sold May ‘06 for $330,000  |
4818 McGill – 3BR, 1700 sqft, sold March ‘07 for $295,000  |
The Vineyards, west of Lantana
These homes were built between 2001 and 2002. A 25% average reduction in price since early 2006 makes it now possible to get a large 4BR home for far less than a 3BR home in this neighborhood sold for last year.
6931 Spider Lily – 4BR+Loft, Pool, 2600 sqft, sold Feb ‘06 for $475,000  |
6895 Spider Lily – 4BR+Loft, 2600 sqft, sold July ‘07 for $325,000  |
6906 Spider Lily – 3BR, 2000 sqft, sold Aug ‘06 for $427,500  |
4091 Plumbago – 3BR, 1700 sqft, sold June ‘07 for $300,000  |
Winston Trails, west of Lantana
A gated golf community, prices have generally declined 20% since 2006. For the price of a basic 3BR home in 2006, a buyer can now afford the popular Venice model with a pool and water view.
6181 Indian Forest – 4BR, 2400 sqft, popular Venice model, pool and lakefront. Sold May ‘06 for $525,000  |
5590 Bermuda Dunes – 4BR, 2400 sqft, popular Venice model, pool and lakefront. Sold July ‘07 for $395,000  |
5900 Wedgewood – 3BR, 2000 sqft. Sold March ‘06 for $405,000  |
5585 Lake Shore – 3BR, 2100 sqft. Sold March ‘07 for $298,000  |