Home prices and sales surged in July across Palm Beach County as confidence grows that the once-crippled housing market is recuperating.
The median price for existing homes last month was $217,500, up 15 percent from July 2011, the Realtors Association of the Palm Beaches said Wednesday. There were 1,247 homes sold, a 21 percent jump.
Condominium prices also are improving, rising 13 percent to $90,000.
The rise in prices and a shortage of available properties are giving sellers more negotiating power. Palm Beach County has 6,788 homes for sale, a 43 percent decline from last year.
Read: “Palm Beach County home prices rise in July,“ an article by the Sun Sentinel.