About Palm Beach Gardens' Steeplechase

As 2011 draws to a close, home values in Palm Beach Gardens' premiere estate community of Steeplechase continue to decline following the county wide pattern where prices of single family homes throughout Palm Beach County hit numbers not seen since spring 2002. Yet, some local estate communities appear to have reached bottom pricing and are beginning to see values increase.

If you are interested in purchasing an estate home in Palm Beach Gardens, this is the time to be seriously looking.

In September 2011 the median price of a single family home in Palm Beach County fell to $180,300, a 57percent drop from the housing boom peak of $421,500 reached in 2005. For Steeplechase the average dollars per square foot for the 11 homes sold through the end of October, 2011 was $187/SF a decline of 44 percent from 2006.

Within Steeplechase, the price disparity between larger and smaller homes is significant. Of the 11 homes sold, seven were under 4000 square feet and averaged $160 per square foot. Four homes were larger than 4000 square feet and averaged $234/SF.

Four of the 11 homes sold were short sales, foreclosures or abandoned homes and they were all smaller homes. These distressed properties continue to adversely impact properties values in Steeplechase and many other communities.

There are currently 13 homes on the market in Steeplechase.

In San Michele, for example, prices declined eight percent in 2011 compared with 2010. Of the six homes sold in the community, two were short sales. There are eight homes on the market in San Michele.

It can take years for home values to come back up from the pricing damage caused by distressed sales. But we find that as communities are rid of short sales and foreclosures, prices can stabilize and even begin to increase.

At Mirabella in Palm Beach Gardens prices in 2011 have increased an average $11 per square foot or six percent compared with 2010. Mirabella prices decreased five percent in 2010 compared with 2009 and seven percent in 2009 compared with 2008. There are currently 26 homes on the market in Mirabella.

And at Bay Hill Estates in West Palm Beach prices are up almost 12 percent in 2011 compared with 2010. There are 13 homes on the market in Bay Hill.

The Weiss-Clawson Team is on top of the market in Steeplechase and in most communities throughout Palm Beach Gardens, providing the most up to date information to our clients. If you are interested in buying or selling a home anywhere in Palm Beach County please call Sue or Carol directly.

Homes in Palm Beach Gardens' premiere estate community of Steeplechase are selling well with prices continuing to fall, but at a more moderate pace than in previous years.

By late October 2011 there were 11 homes sold in Steeplechase compared with 10 homes sold for all of 2010. The 11 homes averaged $187 per square foot compared with $200 per square foot for homes sold in 2010, a decline of about seven percent.

In Steeplechase, larger homes usually sell for a higher dollars per square foot amount than do smaller homes. Homes over 4000 square feet averaged $234 per square foot while smaller homes, under 4000 square feet, averaged just $160/SF.

Overall prices in Steeplechase are down about 45 percent from the high point in 2006 making this an exceptional time to buy a home in this wonderful community. In late October, 2011 there were 13 homes on the market in Steeplechase ranging in price from the high $300,000's to nearly $2 million.

Steeplechase is a gated community in the heart of Palm Beach Gardens with just 324 custom homes, each set on an acre or more of land. The spaciousness of the lots affords residents the opportunity to have swimming pools, tennis courts, play areas, gardens and exquisite landscaping on their property. Privacy abounds!

The community is close to major roadways. shopping areas, schools and businesses such as Scripps Institute at Abacoa, downtown Palm Beach Gardens and West Palm Beach office buildings.

The Weiss-Clawson Team includes a resident expert at Steeplechase. If you are interested in more information about Steeplechase, or are considering buying or selling a home in Steeplechase, please contact The Weiss-Clawson Team directly. We look forward to hearing from you and to working with you.

More homes have sold in Palm Beach Gardens premiere estate community of Steeplechase through early August than have sold during any full year since the real estate market downturn in 2006. But prices in Steeplechase continue to decline due in part to short sales and foreclosures clearing the market.

Eleven homes sold in Steeplechase during the first seven months of 2011. In 2010 there were 10 homes sold for the entire year and in 2009 just two homes sold.

Prices in Steeplechase continue to decline as short sales and foreclosures are sold.
The distressed properties continue to have a negative impact on values. There are 12 homes on the market in Steeplechase in early August, 2011 with some very good opportunities for buyers.

Average dollars per square foot for the 11 homes sold is $186, compared with $200/SF for 2010 sales. But differences are emerging between the larger homes and the smaller ones in Steeplechase. Homes over 4500 square feet sold for $231/SF while those below brought just $160/SF. The short sale and the foreclosures were all smaller homes.

The Weiss-Clawson Team regularly researches sales and market information in Steeplechase and throughout Palm Beach Gardens and West Palm Beach to provide the most up to date information to our clients. If you are interested in selling or buying a home in Steeplechase or throughout the area, we would like to work with you. Please contact The Weiss-Clawson Team directly.

Steeplechase homes for sale and real estate | Palm Beach Gardens | FL | 33418

Steeplechase in Palm Beach Gardens, Florida is a private gated community offering large one acre home sites. Comprised of 325 luxury estates, many of these custom homes offer private swimming pools, tennis courts, and guest houses. Steeplechase homes for sale range in size 2,550 to over 9,000 living square feet. This Palm Beach Gardens community is located in close proximity to the Gardens Mall, Downtown at the Gardens, PGA National Resort and Spa, and many other dining, shopping, and entertainment venues.

Find STEEPLECHASE Homes For Sale and STEEPLECHASE Home Values. We also have information on mortgages, insurance, movers and other Palm Beach Gardens Real Estate Services for anyone looking to sell or buy a home in beautiful PALM BEACH COUNTY Florida.

Palm Beach Gardens Real Estate

Paul Kitchen and Starfish Real Estate provide clients, family and close friends with professional, honest and dependable service. A resident of Palm Beach Gardens, Paul is extremely familiar with the local neighborhoods including STEEPLECHASE, school districts and the Palm Beach Gardens Real Estate market in this beautiful Palm Beach County town.

Paul Kitchen
Broker-Owner
Starfish Real Estate
40 Royal Palm Pointe
Palm Beach Gardens, FL 32960
(772) 539-8420
(800) 793-7304 toll free
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