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Thursday, September 28, 2006
‘Middle-management’ home prices still rising, study says
Palm Beach County home prices are still rising by one measure. Coldwell Banker’s annual Home Price Comparison Index, out today, pegs the typical 2,200-square-foot home in West Palm Beach at $507,750, up from $429,250 last year and $323,975 in 2004.
The Boca Raton trend is similar: up from $437,625 in 2004 to $527,465 in 2005 to $623,750 in 2006.
Before you get too excited, consider a couple caveats. First, these numbers are based on sales in June, which is before the year-over-year price declines took hold, said Matt Gentile, spokesman for Coldwell Banker Residential Real Estate, Florida’s largest broker.
Second, there are some tight criteria. Homes considered must be single-family dwellings of about 2,200 square feet with four bedrooms, two and a half bathrooms, family room and two-car garage. Plus, Coldwell Banker says, the houses must be “in neighborhoods/Zip codes within a market that is typical for corporate middle-management transferees.”
At any rate, Coldwell Banker looked at home prices throughout the nation and world. The priciest markets for this type of home are Milan, Italy, at $1.81 million, and Beverly Hills, Calif., at $1.8 million. Among the cheapest are Bogota, Colombia, at $56,522, and Minot, N.D., at $132,333.
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Search engine makes real estate research easier
The Internet just keeps making things easier for buyers and sellers. If you don’t believe me, check out Trulia.com’s latest bells and whistles.
Trulia, which calls itself a “real estate search engine,” offers a wealth of listings. So does Realtor.com, but Trulia has upped the ante with tools to help you make sense of the reams of data. Trulia this week debuted a feature that lets you compare that 3/2 to similar homes on the market and to recent sales in the neighborhood.
San Francisco-based Trulia posts listings for areas throughout the country. Its Palm Beach County listings come from the Web sites of a variety of of brokers, including The Keyes Co., Prudential Florida WCI, Illustrated Properties and ERA.
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