The strong seller's market in Palm Beach Gardens is showing no signs of the dreaded real estate bubble bursting during this third quarter of 2005. New construction of both commercial and residential properties is taking place all around the city. Prices for both new construction and existing homes are climbing steadily due to high demand and low inventory. Many of the older homes on the water are being remodeled or torn down. Residential new construction projects sell out before the models are completed. Rental apartments are being converted to condominiums and buyers are waiting in line just to get a number that will be entered in a drawing giving them the opportunity to purchase a unit. Although prices have increased tremendously in the last few years, I don't see them as over inflated and still feel that they offer buyers good value.

Location Characteristics: Palm Beach Gardens has a land area of 55 square miles, making it the largest city in Palm Beach County. The year 2,000 census showed a population of 38,055 but it has grown considerably in the last 5 years and is continuing to do so. The city likes to refer to itself as the golf capital of the world because of the many fine private and public courses in the area. Since the eastern boundry of the city is the Intracoastal Waterway, boating is also a popular pastime with the residents. The upscale Gardens Mall is a favorite for shoppers from all over the area. The city is located 70 miles north of Miami and the Palm Beach International Airport is only 7 miles away.