Low Inventory Again Plays Role in Lower Jupiter Pending Home Sales

Jupiter Pending Sales Drop to 9 Month Low

The local real estate market continues to chug on down the road towards another season and our northern friends can already be seen around town. Every time I drive by one of the clubs a truck is out front unloading cars. It will be interesting to see the impact they have on real estate sales in the upcoming months. One thing for sure is the market is constantly changing; this week interest rates were up considerably as were foreclosures for the second week in a row. Inventory levels remain very low and are no doubt having a negative impact on sales levels throughout the region. And today we get to take a deeper look into what has happened to pending sales levels in the north county area over the past 30 days.

Pending sales are the most accurate predictor of what transactions we can reasonably expect to close escrow in the coming 30 to 60 days. Each month we track 5 different municipalities and bring those numbers to you to keep you in touch with where the market is heading as this affects everyone who is, or contemplating, either selling or buying property.

Last month we came out with out very first “power rankings” for pending sales as it will give us all a good picture of where we are seeing the most strength. Last month pending sales were down through out the region with Jupiter making the best showing with a 1% drop. So here are the rankings for October;

#1 Juno Beach – 
#2 Hobe Sound – 
#3 Palm Beach Gardens – 
#4 Jupiter – down 16%
#5 Tequesta – down 19%

The good news is three of our market areas showed an increase; two were double digit increases but we next go to this months #4 performer, Jupiter and after a 1% drop last month they follow that up with a more significant 16% drop this month. Pending listings stand at 98 down from last months level of 117 for our fifth consecutive decrease and our first drop below 100 since January. With this months drop we remain about 11% below the average we have seen for the previous 12 month period which sits at 110.62 per month. On the good news front we are above where we were at this time last year when we only had 87 pending sales. The next couple months are going to tell us a lot about where this market heads as we head closer to the season so keep tuned in and we will bring you the latest.

As always, my goal when working with each of my clients, is to fully understand their unique, individual needs and design a program that will successfully ensure their goals are met. “Results Driven Real Estate” is a promise of the highest level of service in the industry and if you would like a complimentary consultation to discuss your particular situation in more detail please feel free to contact Tom at 561 308-1075 or via e-mail at tom@tompriester.com. We would be honored to be of assistance in any way that we can.

Always at Your Service,

Tom Priester   e-PRO
“Results Driven Real Estate”
Keller Williams Realty
561 308-0175


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Tom Priester

After spending years among the top individual performers at one of Palm Beach County’s largest and most successful real estate brokerages, Tom Priester knew there was another way to do real estate. A better way. Real estate services focused on the customer. Like the old days when the customer truly was #1. He tired of listening to why he should be going out to have his customers sign one sided buyers’ brokerage agreements. He tired of hearing how he should be selling customers why paying higher commissions, like 7% and 8%, was to their benefit. He tired of hearing how he should sell his clients on why they should be paying hundreds of dollars in additional “transaction fees”. The business had slid way too far from being focused on the customer. His customer. So he decided the time was right to be different…..by design. To start his own unique boutique real estate firm truly focused on his customers. They will now have access to a process focused on them. Only the best marketing techniques to sell their homes. No cutting corners. Commission structures based on his clients needs not his. Paradise Sharks was born out of Tom’s passion to return this business to the customer. Where it belongs. If you want a real estate experience that benefits you, just give Tom a call at 561 308-0175 or send him an e-mail at tom@paradisesharks.com. You can always pay more and receive less but that just would not make any sense. Would it?

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