PGA National – Real Estate Market Update for Year End 2019
PGA National is one of the more mature golf and country club communities in Palm Beach Gardens and throughout the northern Palm Beaches. As a result, inventory turnover is lower than other communities in the area which leads to greater overall market stability.
During the past five years the housing market in PGA National has continued to improve with strong sales trends and home appreciation across virtually all price points. This was due to increasing buyer demand, limited inventory levels and historically low interest rates. As a result, home sellers were able to take advantage of the strong market as priced continued to rise.
How did the real estate market in PGA National perform in 2019? Continue reading to learn more.
PGA National Real Estate Market – Results for 2019
According to data provided by the local Multiple Listing Service (MLS), there were 368 individual home sales in PGA National for the year 2019 representing a combined sale value of more than $140 million.
The 2019 results were an improvement over what was experienced in 2018 with 346 individual home sales representing a combined sale value of approximately $129 million.
To put the results for 2018 and 2019 in prospective, there were 172 homes that sold in PGA National during 2010 with a combined sale value of approximately $50.5 million. Therefore, the market activity has virtually doubled during the decade with respect to both the number of sales as well as the overall volume.
Following is a summary of the home sale statistics for transactions in PGA National for the past three years:
- 2019 Median Sale Price: $334,250 or $201 per square foot
- 2018 Median Sale Price: $331,375 or $195 per square foot
- 2017 Median Sale Price: $319,000 or $195 per square foot
- 2019 Average Sale Price: $387,924 or $215 per square foot
- 2018 Average Sale Price: $374,984 or $198 per square foot
- 2017 Average Sale Price: $373,483 or $197 per square foot
- 2019 Median Sold Price / List Price Ratio: 92.72%
- 2018 Median Sold Price / List Price Ratio: 94.38%
- 2017 Median Sold Price / List Price Ratio: 95.86%
- 2019 Average Sold Price / List Price Ratio: 94.10%
- 2018 Average Sold Price / List Price Ratio: 93.11%
- 2017 Average Sold Price / List Price Ratio: 92.96%
- 2019 Lowest Sale Price: $90,000
- 2018 Lowest Sale Price: $93,000
- 2017 Lowest Sale Price: $92,000
- 2019 Highest Sale Price: $1,150,000
- 2018 Highest Sale Price: $1,139,000
- 2017 Highest Sale Price: $1,285,000
The top five home sales in PGA National for 2019 are as follows:
- $1,150,000 – 50 Cayman Place, The Island
- $1,130,000 – 1142 Grand Cay Drive, Grand Cay
- $1,112,500 – 1121 Grand Cay Drive, Grand Cay
- $1,025,000 – 97 Sandbourne Lane, Preston
- $1,010,000 – 4 Alnwick Road, PGA Resort Community 3
The top five home sales in PGA National for 2018 are as follows:
- $1,139,000 – 11 Wycliff Road, Burwick
- $1,100,000 – 12 Sheldrake Lane, Marlwood Estates
- $1,030,000 – 1111 Grand Cay Drive, Grand Cay
- $980,000 – 20 Sheldrake Lane, Marlwood Estates
- $937,500 – 41 Cayman Place, The Island
The top five home sales in PGA National for 2017 are as follows:
- $1,285,000 – 16 Carrick Road, Burwick
- $1,195,000 – 5 Tarrington Circle, Marlwood Estates
- $1,175,000 – 5 Sheldrake, Marlwood Estates
- $1,057,500 – 1121 Grand Cay Drive, Grand Cay
- $875,000 – 912 Augusta Pointe Drive, Augusta at Eagleton
Active Inventory Levels at PGA National – January 2020
As of early January 2020, there are only 101 properties indicated in an “active” status in the MLS with a combined asking price of approximately $45.8 million. The median days on the market for the current inventory is 53 with the average days on market being reported at 69. The highest priced home is currently being offered at $1,099,000 with the lowest priced at $139,000.
The top five highest priced listing in PGA National at this time are as follows:
- $1,099,000 – 22 Glencaim Road
- $949,000 – 212 Thornton Drive
- $929,900 – 32 Cayman Place
- $929,000 – 100 Brookhaven
- $888,000 – 103 Woodsmuir Court
Additionally, there is approximately $7.8 million of home in an “under contract” or “pending” status. The median and average days on market was reported to be 26 and 62, respectively.
If you are interested in learning more about PGA National or the real estate market in general, now is the time to contact Amy Losquadro who is a Luxury & Residential Home Specialist in Palm Beach County and has been a PGA National resident since 2000.
Click on the contact button below or call Amy directly at 561.315.5022.
Disclaimer: The data for this article was obtained from the local Multiple Listing Service (MLS) and while deemed to be reliable, is not guaranteed. No warranty or representation, expressed or implied, is made as to the accuracy contained herein and submitted subject to errors, omissions and other conditions.