December Saw Pick Up in Jupiter Single Family Home Sales
As I sit down to finish up my final articles about the metrics of the 2011 south Florida real estate market I am excited about what the new year will bring. There are many positive signs and I am looking forward to finishing up this review of December sales in the region so we can put together the recap of 2011 and our projections for 2012. But first things first let’s see how things panned out in the final month of 2011. During December our real estate sales power rankings ended up looking like this;
#2 North Palm Beach
#3 Palm Beach Gardens
#4 Hobe Sound
#5 Jupiter up 5%
#6 Juno Beach down 66%
Last month we reported how sales were down throughout the north Palm Beach County area and it was great to see a robust rebound to end up the year. Five of the main market areas reported increases and some were rather dramatic with the only segment losing ground being the condominium market in Juno Beach.
This month’s 5th place finisher in our sales power ranking are single family home sales in Jupiter that rebounded after a slow month in November. While we still lagging a bit behind the very strong numbers we experienced during most of the year this is a step in the right direction for Jupiter. In December we had 60 sales which was an increase of 3 from the 57 sales we had in November. We also stayed well below the 12 month average which stands at 74.5 and also below the 68 units that sold in December of last year.
While sales levels ticking up it was great to see them spread across all price ranges with homes selling between $150,000 and $500,000 controlling 70% of the overall market. Above those levels in the luxury home market we saw 15% of the months sales which was a solid performance. The chart below shows the percentage of sales by price category for the month of December.
With the large majority of sales in the median price ranges we would expect to see the median sales price remain somewhere in the middle of the pack. In fact we actually saw a small decrease in median price to $313,000 from the $327,000 median we experienced in November. With this showing we managed to stay ahead of the 12 month average of $307,383. We also stayed a bit above the median price sale of $299,500 we saw in December of last year. The chart below shows median prices on a monthly basis over the previous 12 month period.
This crazy world of real estate is what I thrive on and nothing gives me more satisfaction than assisting other in finding that perfect home and negotiating the best pricing and terms or listing and marketing their current home to achieve the best results. Your free consultation is but a phone call away so if we can be of service in any way to you, your friends, family and colleagues please do not hesitate to give me a call. Easily reached at 561 308-1075 or via e-mail at firstname.lastname@example.org we are here to assist in any way that we can.
Always at Your Service,
Tom Priester e-PRO
“Results Driven Real Estate”
Keller Williams Realty