Included is the Sales Data as mentioned in the Palm Beach Real Estate Guide.

According to a report by the Florida Association of Realtors, newly lowered prices of existing single family homes is the main reason for the Treasure Coast’s 43% rise in sales, the largest annual percentage gain in the state.

After months of sales dropping in the double digits, Palm Beach County’s sales dropped only 3% last month from last year’s levels, another positive sign that the market is stabilizing.

Sources at the Realtors Association of the Palm Beaches agree, saying that buyers have been waiting to see how much prices will drop.  And they did -- median prices of existing homes in Palm Beach County fell 12% to $334,300 since June 2007, and in Martin and St. Lucie Counties, median prices fell 32% to $160,800.

Also according to the report, existing condominium sale prices fell 24% since June 2007 to a median price of $153,200, making them more affordable to first-time buyers. Martin and St. Lucie counties’ media price fell to $165,000 – a drop of 28%.

This reflects two things, according to analysts.  One – sellers are becoming more realistic about pricing their properties, and two – the amount of foreclosures in the upcoming months will drive down prices in the next 24 months.

Across the state, existing home sales fell 5% compared to last year’s figures.  Nationally, sales fell by 15%.  These low sales levels also mean lower prices – the median price dropped by 7% compared to figures from last year. 

Economists warn that there is still a way to go, but are hopeful that this is at least the beginning of the end.

In what is most likely a record price for a condominium in Palm Beach, the penthouse of the West building of the Il Lugano condominium was bought from Miami Dolphins co-owner Stephen Ross for $12.1 million.

The unit at 300 Seminole Ave has 5,798 square feet, is situated on an entire level of the building and has five terraces that overlook the Intracoastal, Palm Beach and also the Atlantic Ocean.

Renovated in 2000 by developer Richard Schlesinger and his son Adam, what used to be the 66 unit Dorset House was totally restructured into 14 luxury condominium apartments, taking out a level of the building to accommodate larger units with higher ceilings.  The unit also boasts a private cabana, boat dock and 4-car garage.

According to industry reports, large condominium residences are selling rather swiftly, due to maintenance and security issues connected with owning a single-family home.  Buyers in this category recognize the value of having less upkeep with the same amount of living space.

Falling in love with a locale is easy when you live in Palm Beach, agree real estate broker Scott Gordon of Scott Gordon Realty and Exclusive Estates, A Division of Scott Gordon Realty.

After all, they ask, how many places can you live where the weather is almost prefect every day, the landscape is breathtaking and the town is impeccably maintained?

"Our town is one of the most secure communities on the east coast, as well. As a winter destination, Palm Beach is easily accessible. It offers the finest shopping, resorts, dining and cultural and charitable events," says Gordon. "If you are raising a family, this intimate town offers some of the finest schools and family activities."

If you are mindful of living a quality lifestyle with first-class amenities and all the conveniences of a world-class community, Palm Beach should be tops on your list. Whether you are looking at your immediate plans or looking in to the future, real estate in the Palm Beach has maintained its value.

Over the years Scott Gordon Realty has established a strong presence in the Palm Beach and Manalapan real estate markets.

Gordon says they welcome inquiries from those who want to learn more about Palm Beach as a place to invest in high-quality properties while enjoying the community's remarkable lifestyle.

Scott Gordon Realty is in the Plaza Del Mar Shopping Center in Manalapan; call (561) 533-5888. For information, visit the Web sites www.scottgordonrealty.com and www.exclusiveestates.info.

From January to February 2008, home prices in Palm Beach County rose slightly from a median price of $343,200 to $344,600, according to the Florida Association of Realtors.

Prices of condominiums in Palm Beach County tell the same story, rising slightly from January 2008 to February 2008, but down 24 percent from February 2007.

Although there is still a way to go – actual sales were down 28 percent from one year ago – many Realtors see the increase as a positive sign that change is upon us, or at least some stabilization within the market.

Others warn against being too optimistic so soon for fear that a “false bottom” will cause complacency and eventually result in further decreases in home values.

Messages are mixed – for every positive sign there seems to be a negative one to cancel it out, but the industry remains hopeful that a change for the better is on the horizon.