The Evans Report: Palm Beach Sees Boost In Total Dollar Sales Volume Of Single-Family Homes, Condos

March 2, 2012 - PRLog -- PALM BEACH, Fla. ─ Town-wide, total dollar sales volume of single-family homes and condos/co-ops increased $73,988,994 (+10.86%) from $680,942,681 in 2010 to $754,931,675 in 2011, according to The Evans Report: Fourth Quarter 2011, which includes the 2011 year-end review.

"In an otherwise weak national economy, the total dollar sales volume of single-family homes and condos/co-ops was in excess of three-quarters of a billion dollars in the year 2011," said Leslie R. Evans, Esq., managing partner of Leslie Robert Evans & Associates, P.A. (LRE).

Published every quarter by Leslie Robert Evans & Associates, P.A., a leading provider of the most comprehensive real estate market analysis for the Town of Palm Beach, The Evans Report illustrates quarterly, year-to-date, and quarter-to-quarter comparisons of single-family home and condominium/co-op sales. Each sale is presented in chart format, along with this analysis:

Palm Beach Single-Family Home Sales
In 2011, the median for town-wide single-family homes sales in Palm Beach fell from 2010 by $370,000 while the average increased $241,158, according to The Evans Report.

"The strongest segment of single-family home sales was in the range of $10,000,000 and above,” Evans explained. This segment increased from 8 sales, representing 9.1% of the total number of sales in 2010, to 14 sales in 2011, representing 10.8% of the total number of sales.

Sales of single-family homes below $2,500,000 increased to 50.8% of all such sales in 2011 versus 45.8% of all such sales in 2010, according to The Evans Report.

Although there were no single-family homes sales in the South section (area south of Worth Avenue) in the fourth quarter of 2011, for the full year the total number of sales in 2011 equaled the total number of sales in 2010, while the median increased in 2011 by $1,799,000 to $8,599,000, and the average increased in 2011 by $2,531,985 to $10,954,737.

The number of REO's and Certificates of Title (foreclosures) in regards to single-family homes fell from 3 out of 121 closings (2.4%) in 2010, to 2 out of 130 closings (1.5%) in 2011, according to The Evans Report.

Palm Beach Condo/Co-Op Sales
The number of town-wide condo/co-op sales (236) were down in 2011 from those in 2010 (269), while the median sales price increased $107,500 from $365,000 to $472,500 and the average sales price increased $78,450 from $629,024 to $707,474 in 2011.

The strongest segment of condo/co-op sales was in the range of $500,000 to $999,000.  This segment increased from 52 sales in 2010, representing 19.6% of the total number of sales in 2010, to 73 sales in 2011, representing 30.5% of the total number of sales.  The median and average sales prices increased in both geographic areas for 2011 over 2010.

The number of REO's and Certificates of Title (foreclosures) in regards to condos/co-ops fell from 28 out of 267 closings (10.5%) in 2010, to 9 out of 236 closings (3.8%) in 2011.

New Logo, Interactive Website Part of Firm’s Rebranding Initiatives
Leslie Robert Evans & Associates, P.A. is pleased to announce the launch of a new logo for The Evans Report, created in an effort to better promote and build on the report’s 12-year history of tracking single-family home and condominium/co-op sales in the Town of Palm Beach.  

The new logo for The Evans Report coincides with the firm’s launch of its new interactive website, www.LREvansPA.com, which contains current and archived editions of The Evans Report. The website is aimed at expanding the firm’s marketing initiatives and providing innovative online tools for real estate brokers, buyers, sellers and investors.

“Since the launch of our website two months ago, the feedback has been overwhelmingly positive,” noted Jason Evans, senior associate at Leslie Robert Evans & Associates, P.A. “The website provides valuable and instant information with our free title rate calculator as well as a free detailed preliminary settlement statement, which supports the needs of real estate professionals and individuals as they progress to the closing of their home, condo/co-op or commercial property.”

Leslie Robert Evans & Associates, P.A. also utilizes a variety of interactive online forms of communication, including a new blog, informative videos and social media pages, including Facebook, Twitter and LinkedIn to alert followers of release dates for The Evans Report as well as new blog stories and Firm announcements.

"Accessibility is crucial to our success and the satisfaction of our clients, and we believe creating connections via social networks will help us better serve our clients in the new economy," Leslie Evans said.

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Leslie Robert Evans & Associates, P.A. (LRE) is an established, results-driven law office based in Palm Beach, Florida. Founded in May 1996, the firm consists of experienced attorneys and legal professionals committed to providing clients excellent representation along with cost-effective solutions to meet their legal needs every step of the way. For more information, contact Leslie Robert Evans & Associates, P.A. at (561) 832-8288, email us at evans@LREvansPA.com, or visit us online at www.LREvansPA.com.