Palm Beach, Martin County Property Values Rise

In some cities, Florida home loans are available and affordable. In others, appreciation continues to increase and many potential buyers remained priced out.

One area in which values are rising in Martin County. There, property values increased more than 20 percent last year, breaking a two-year-old record, the Martin County property appraiser announced this week.

“We’ve seen a drop in sales, but not in sale prices,” Appraiser Laurel Kelly said.

The 20.6 percent increase was for all residential and commercial property in Martin County during 2005. Unlike other sectors, therefore, where buyers can make low Florida home loan offers, momentum is on the side of the seller here.

The news comes days after St. Lucie County announced that its tax base soared 37.8 percent, bring the county’s total value to $24.2 billion. The total property value in Martin County was reported at $21.3 billion, making it a burgeoning section of the Florida housing market.