More bad news for those looking to buy a Jupiter home

Selection of available properties continues to drop

Those looking to purchase a Jupiter home, or one in a neighboring community, continue to be frustrated. It’s not easy as quality inventory is harder to find in these parts than a one legged pelican. Each month at this time we take another look at inventory levels in the north county region and for each of the past 6 months it isn’t a pretty picture for buyers.

Inventory

As of August 15th local home inventory has dropped below the 2000 unit level for the first time since November of last year. Down another 3.5% from a month ago and down almost 15% from levels we enjoyed back in February and March. Even though it is hard to find the perfect Jupiter home, buyers of single family homes have stepped up to the plate. Sales are up over 75% since February and prices have been heading higher and higher. And the 2014-2015 season is right around the corner.

The market for those looking for a Jupiter home has shown amazing strength. Perhaps a few minor contrarian signs. Single family home prices pulled back slightly as of August 1st but they had been up for 8 straight months and were due for a little correction. Condo buyers have not been keeping up there end of the bargain as sales there have dropped significantly over the summer months but some of this is seasonal and even more is the fact there is little to buy.

Tomorrow we will publish the latest pending home sales data and we expect to see more weakness. There has been a longer than normal lag between sales and falling pending sales numbers so the next few months are going to be interesting. Can prices hold firm until our seasonal friends start flocking back into town? So far it looks like they will. And if you think finding a Jupiter home is a tough task right now just wait until January.

If you want to be set up with a game plan for success in finding the perfect Jupiter home just give us a call at 561.308.0175. You ending up winning is our passion here at Paradise Sharks. Always interesting, always fun.

 

Fins up………

 

Tom Priester
Principal Broker

Paradise Sharks Real Estate
561.308.0175
tom@paradisesharks.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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