Median Condo Prices Continue To Drop In the Jupiter Area

Wide diversity in fortunes of condominium developments

We have been involved with real estate for more years than I care to remember. The challenges in understanding what is happening in the market revolving around an individual property is what makes this an exciting field of study. Never have we felt a divergence so great between different properties and locations in a relatively small geographic area like the northern Palm Beach County region.

Overall inventory levels have continued to climb throughout the area. These increased inventories have held down median prices in the condo market for about 6 months. However, median prices of single family homes have been up strongly over the past four months. It could be a balancing of what transpired in the market over the past 18 months as condos had outperformed single family homes rather dramatically up until September of last year. Each month at this time we check in on what has changed with condo prices over the past 30 day period in Jupiter and the neighboring communities.

Condo Prices

And this month what we can report is more of the same. As of March 15th the median sales price of an area condo has dropped again. A rather minor drop of less than 2% to $165,000 from the $167,250 we reported last month. The last time we reported a monthly increase in condo prices was way back on September 15th of last year. But the divergence in fortunes is wide with the best locations and buildings seeing prices in some cases exceeding the highs we saw in 2005/2006. Other developments are struggling with higher inventory levels and prices still far below what they were back before the bubble burst.

Buyers and sellers alike need to fully understand what is going on around them at the moment they are make either a purchasing or selling decision. Paradise Sharks Real Estate takes great pride in ensuring our clients are armed with all of the information they need to make an educated decision. Our passion remains to raise the quality of service, marketing and value in our industry. If you would like to learn more about why we tell all of our clients that they can pay more and receive less please feel free to contact us at your convenience. After all doing anything else just would not make any sense.

Fins up………….

Tom Priester
Principal Broker

Paradise Sharks Real Estate
Direct Line 561 308-0175
tom@tompriester.com

http://www.paradisesharks.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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