Lake Worth Real Estate

Getting to Know Lake Worth

Here is a snapshot of Lake Worth median homes prices furnished by City-Data.com This is interesting because unlike other portions of Florida that showed a little up-tick at the end of last year, Lake Worth median home prices remained level.

The reason for this is speculation but many believe that the glut of foreclosures and short sales hitting the market is keeping the prices level. Here at Realty Elite USA we have over 100 realtors waiting to serve you. Many of them are experienced in dealing with distressed properties on the selling side and all of them will be able to help you find a deal in this type of special real estate market that only comes by once every 20-40 years.

Lake Worth Real Estate has a Special History

After Henry Flagler extended his rail line south from West Palm Beach to Miami in 1896, a land development scheme was created to plant a townsite between the railroad and the lake. Purchasers of lots within the townsite would also receive a larger plot of land west of town for agricultural use. The initial name proposed for the new town was Lucerne, however the U.S. Post Office refused to accept the name because there was already a “Lake Lucerne” in Dade County. The city fathers decided on the name Lake Worth, for the lake on which the fledgling town was located, and one of the main streets was named Lucerne Avenue. The city was officially incorporated in 1912. Many of the first residents were farmers from other parts of the American south and mid-west, looking to benefit from the growing winter vegetable market of the time. The city benefited with the rest of South Florida during the Florida land boom of the 1920’s. A wooden automobile traffic bridge over Lake Worth was completed in 1919. The first casino and municipal beach complex was completed shortly thereafter. The 1920’s also saw the completion of the Gulf Stream Hotel, which is presently be renovated and is on the National List of Historic Places.

Market Stats for Lake Worth

by Price Range

General Stats

Highest Price Listing

$11,000,000

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Average Listing Price

$332,167

Total Market Listings

1185

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Average Price Per Sq Ft

$179.00