PALM BEACH GARDENS AREA ESTATE HOMES AT BAY HILL RISING IN VALUE

Palm Beach Gardens area estate homes at Bay Hill are bucking the downward price trend throughout the area and have seen values increase through most of 2011. Sales in the community are brisk.

While the median price of single family homes in Palm Beach County is down to $180,300, a slide of 57 percent since the high point in 2005, homes in Bay Hill Estates have increase about 12 percent in 2011 compared with 2010.

Through October, 2011 there were 12 homes sold in Bay Hill Estate and they averaged $159 per square foot. Just a year earlier, only seven homes sold during 2010 and they averaged $140 per square foot. In 2011 there was just one short sale sold.

As distressed properties are sold and moved off the market property values tend to stabilize and ultimately rise.

There are currently 12 homes on the market in Bay Hill Estates with just one of them listed as a short sale.

Bay Hill is the estate section of PGA National and is home to one of the resort's five golf courses. The community is located just west of Palm Beach Gardens in the northern portion of West Palm Beach. All homes in the community are built on about an acre of land providing space for elegant estates.

The Weiss-Clawson Team researches communities throughout the Palm Beach Gardens area to provide the most up to date information for our clients. If you are interested in buying or selling a home in Palm Beach Gardens, please contact The Weiss-Clawson Team directly. We look forward to hearing from you and to working with you.