Jupiter Condo Sales Sink to Multi-Year Lows

Jupiter condo sales: Is it the lack of inventory or something more

One thing is certain. Jupiter condo sales and those throughout the Northern Palm Beaches have slowed. Dramatically. To the lowest monthly total we have seen in years. We had to redo our charts to put in a new bottom row because this low of number would not fit on our old charts.

Condo Sales

Jupiter condo sales and those in her neighboring communities dropped 24% from the numbers we reported just one month ago. Is it seasonal? Not really, as today’s Jupiter condo sales are a full 34% below the numbers we reported last year at this time. A full 30% below the 12 month moving average. Really low numbers. Sick numbers.

Median condo prices had held steady and continued to rise so we had to say the lack of quality inventory to satisfy buyer demand was the main reason sales had been slowing. After all they were down last month as well. But yesterday, we reported the first decrease in the median condo price we had seen in 7 months. It’s starting to look like weakening demand may also be a real factor. A significant factor. We even stuck our neck on the line with a bold prediction that median condo prices in the area will fall for at least 2 more months. Inventory levels finally leveled off this month but remain very low.

So the patient is looking a little sick here and the question is with an overall economy that has also shown some weakness are we going to be OK? Are Jupiter condo sales going to perk up with the return of our seasonal visitors? Is there going to be enough inventory for them to choose from and what prices are they going to be willing to pay? It’s going to be an interesting ride and we will be here bringing you weekly updates with the most accurate data affecting Jupiter condo sales and everything else real estate in the Northern Palm Beaches. It’s what we do like and it’s always interesting and 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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