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Region's home prices slide in March

Palm Beach Post - 4/22/2008 12:00:00 AM
by Jeff Ostrowski

So much for Palm Beach County home prices hitting bottom. After staying flat for several months, the median price of a single-family home fell to $320,200 in March, down 7 percent from February and down 15 percent from March 2007, the Florida Association of Realtors said today.

However, the number of home sales showed a bit of a spark, climbing to 572 houses in March from 401 in February. Still, sales volumes remained 21 percent below March 2007 levels.

Treasure Coast home prices continued to fall, too. The median price in Martin and St. Lucie counties was $169,700, down slightly from February and off 29 percent from March 2007.

But the number of house sales in the Treasure Coast jumped 14 percent from a year ago.

The condo market continued its freefall. The median condo price in Palm Beach County was $148,600, down 30 percent from a year earlier.

But in the Treasure Coast, the median condo price of $182,500 was down only 10 percent from a year ago and was up significantly from February.