Finally, Jupiter Area Condo Prices Head Higher

Seven months have passed since the last monthly price increase

It’s been a long time coming. Seven long months since the last time we were able to report an increase in the median condo price in the northern Palm Beach County region. After yesterday’s report of a huge increase in condo sales this was the last piece of negative market news we needed to correct.

Condo Prices

For the first time in over 7 years we have all metrics that we track in perfect alignment showing a strong bull market. As of April 15th, the median condominium sales price in the Jupiter area jumped to $172,000 from the $165,000 we sat at one month ago. Certainly a 4% move isn’t earth shattering but after such a long stretch that we have either had prices decline or stay flat an important milestone. It also moves the median condo price to the highest level we have seen locally since December 15th of last year.

So all the news is positive; condo prices up, condo sales way up, single family sales up, single family home prices way up, inventory levels dropping, pending home sales up, interest rates down. It is not my job to be a cheerleader; only to report what is going on in the local real estate markets, but not jumping up and down with excitement is hard to control. But it is hard to see anything negative here. How long can this trend continue is the biggest question and my gut tells me we still have a couple months that will be very, very solid. We are still about a week and a half before we see what turns the market may take and remember they can reverse quickly like we saw last year.

Investor activity has been a huge factor in this recovery and we have a detailed look at what is going on with these purchases coming your way over the next few days. Always interesting, always fun.

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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