dramatic plunge in the sales price of Palm Beach County homes last month was the result of a data mix up that left some Realtors reeling and others calling for a recount.
The Realtors Association of the Palm Beaches said Tuesday that the correct median sales price for an existing single-family home in January was $175,000, $25,000 more than what the group reported last week when sales statistics were released statewide and nationally.
Condominiums and townhomes also saw a bump-up after the error was discovered, increasing from last week’s $63,900 median price tag to $75,000.
While the single-family price is still 10 percent below where it was in January 2011, Association President Bonnie Lazar wasn’t ready to accept that it had fallen to $150,000 – a price not seen since 2001.
“I knew it had to be an error, we just didn’t know where it came from,” Lazar said. “Everybody makes mistakes.” In this case, it was a problem with how a company working for the association and the statewide Florida Realtors group sorted local data.
Read : “Realtors: Sales prices didn’t really take a dive in January” an article by The Palm Beach Post