It’s of no surprise to us all that the combined total of Florida vacation homes and Boca Raton investment home sales declined with the overall market in 2007. But, sales of these homes and condos still accounted for 33 percent of all existing and new home sales. This is close to historic norms, according to the National Association of Realtors®.

Palm Beach County vacation homes are discretionary purchases and there is a natural tendency to pull back from big-ticket items in periods of uncertainty. But, lifestyle factors and strong demographics remain positive for the vacation home market. Plus, investment considerations are secondary for Florida vacation home buyers, so there is almost always underlying demand.

Nationwide, the median price of a vacation home was $195,000 in 2007, down 2.5 percent from $200,000 in 2006. The typical investment property cost $150,000 last year, unchanged from 2006.

Fifty-nine percent of vacation homes purchased in 2007 were detached single-family homes, 29 percent condos, 7 percent townhouses or rowhouses, and 5 percent other. In 2006, single family homes accounted for 67 percent of vacation-home sales, while condos were 21 percent.

Real estate agent Caesar Parisi stands ready with effective advice on buying or selling a Boca Raton Country Club Real Estate.

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