Greenacres is the place to be for some homeowners who seek rapid appreciation.
According to the Realtors Association of the Palm Beaches, Greenacres city was the hottest housing market located in Palm Beach County over the past year. In August, the prices of condos and houses went up to 39 percent with the median pf $149,750. After four weeks of hitting the market, homes were snapped up.
The housing experts say that Greenacres’ mini-boom becomes the reflection of affordability crunch in the region’s market of property.
Neil Picart, the agent of ERA Home Run Real Estate in suburban Lake Worth said that “For those who are just entering the market for the first time, Greenacres is a nice fit. “The prices are reasonable compared to the rest of Palm Beach County. And it doesn’t have that negative connotation that it did a few years back.”
Last Thursday, The Realtors Association, said that in Palm Beach County, the median price of a house sold was $315,000 in August which went down slightly from July this year but also went up from a year ago. The median price for townhouses and condos went up 16 percent from last year and it was $160,000.
Another hot city for property market is the West Palm Beach which median price jumped 37.9 percent, going from $140,000 in August 2015 to $193,000 on August 2016.
