Prospect Park-Monceaux
When it comes to historic neighborhoods,
That's certainly the case with Prospect Park-Monceaux, a small Intracoastal neighborhood tucked between
"It's a lovely neighborhood," says Wray Alison Kunkle, a
The neighborhood offers impressive, mostly old -- and some new -- homes, including many on the Intracoastal. It includes more modest homes, too, with prices today ranging from $199,000, a short sale, to $1.89 million. Most run in the $400,000 to $600,000 range.
"I think it's a buying opportunity of a lifetime," Kunkle says. "Prices are down. It's one of the top places for people to buy right now because
Homes closer to and on the Intracoastal cost more, of course. Those on the western edge of the neighborhood, just east of
Either way, agents say
"
Developed from 1920 to 1935 on a former pineapple plantation, the area was named after
Early owners of the homes, built in the Mediterranean and Mission styles, were investors and businesspeople from the Northeast, according to
"I think we're the hidden jewel," he says. "We are a continuation, in a sense, of El Cid, but we have better amenities -- meandering roads, parks, direct waterfront. And we have plenty of historic homes. We have a lot of very interesting homes."
Today, new, young families live alongside older longtime residents, creating a dynamic and intimate community, residents say. Its voluntary homeowners association has worked to install neighborhood signs and earn the historical designation, Holloway says.
Kids in the area attend A-rated Palm Beach Public Elementary and B-rated Conniston Middle and
Over the years, homes values in Prospect Park-Monceaux have fared relatively well, considering the overall market, agents say. In 2010, eight sales ranged from $245,000 to $950,000. This year, just three sales so far hit high, middle and low: at $1.7 million, $712,500 and $175,000.
A few agents believe it's a great time to buy, as values creep up. Inventory is coming down, says Don Moore of the Corcoran Group, who watches the area carefully.
"At some point here, I definitely think we are going to see a turning point,"
Total number of homes: 204
Median home sales price this year: $712,500
Homes listed for sale: 12
THE REAL ESTATE MARKET AT PROSPECT PARK-MONCEAUX