Pending Home Sales in Jupiter Continue to Decline

Jupiter Pending Sales Down 11%


The local real estate market continues to show amazing strength. If one reads the paper or turns on the TV news one would think that the sky is falling. From the front lines of the south Florida real estate market and I am active throughout Palm Beach and Martin Counties I can tell you somebody forgot to tell home buyers in our area. Inventories continue to shrink and finding properties continues to be a challenge. The hottest segments continue to be single family homes under $400,000 and well priced waterfront properties.

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 pending sales were split through out the region with Juno Beach, Hobe Sound and Palm Beach Gardens all showing gains with Jupiter and Tequesta numbers decreasing. The lack of inventory is making a huge impact on these numbers as there are buyers wanting to take advantage of prices that are still a bargain and interest rates that are ridiculously low are lined up waiting for the right opportunities. Prices are starting to see significant upward pressure for the first time in 6 years and I can only describe the current market as robust. Now we take a look what has changed since our last report and here are the November Pending Sales “Power Rankings”;

#1 Tequesta
#2 Palm Beach Gardens –
#3 Juno Beach – 
#4 Jupiter – down 11%
#5 Hobe Sound – down 19%

The good news is three of our market areas again were unchanged or showed an increase for the second straight month; two were double digit increases which is an amazing feat with lower inventories. Like I said watch for upward pressure on pricing finally coming. This month our 4th place finisher is Jupiter with an 11% decrease in pending listings that stand at 87 down from last months level of 98 and the 2nd of two municipalities showing a decrease this month. With this months decrease we remain about 37% below the average we have seen for the previous 12 month period which sits at 120 per month. We did stay ahead of where we were at this time last year when we only had 75 pending sales. The next couple months are going to tell us a lot about where this market heads and if we see more foreclosures put on the market which is the only thing stopping a significant price run-up.

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
tom@tompriester.com

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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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