Property Values and Home Trends for Singer Island Real Estate

Singer Island Market Report

Singer Island is located in Palm Beach County Florida and is one of the more affluent condominium communities in the county. The Oceanside houses most condominium buildings while west side is full of waterfront estates and homes.

For considering buying or selling in Singer Island it helps to know the real estate market, current trends, days on the market and average home price. Currently the median price for a home on Singer Island is $550,000. The median price per square foot is currently $282.

At any given time there's about 200 - 260 properties for sale on Singer Island from condominiums to single-family homes. The median house sizes about 2000 ft.². about 90% of the properties on thing island were built between the 1950s to the 1990s. Only 6% were built after the 1990s and only 4% before 1950. Singer Island has a 61% owner occupancy with a 39% rental occupancy. In spite of the high-priced properties on Singer Island rent is surprisingly low. 75% of renters pay less than $600 per month. Only 1% of the rental population pays over $2000 for rent each month. 21% are between $600 and $1000.

The lowest priced home on the island is currently at $65,000 for a one bedroom and one bath 700 ft.² condo. The highest priced home is an $11 million condominium on N. Ocean St. with 8600 ft.², four bedrooms and 5 1/2 bathrooms. The median days on the market is roughly 270 days.

There are roughly 40 to 45 condominium buildings and complexes along the ocean side of Singer Island. Condo prices are between $150,000 only up into several million dollar range depending on view, size, condition and building amenities.

Don't let the days on the market scare you if you're considering selling. A properly priced condominium could sell in as little as 30 days is staged, listed, marketed and priced correctly. If you are a buyer, those DOM shouldn't scare you away either as these luxury homes are custom tailored to the right buyer. Chances are you'll find the right home at the right price when the time comes.

 

For more information on Singer Island real estate and condos for sale so free to browse the website or contact me for a personalized consultation on buying or selling on Singer Island.