Pending Home Sales in Jupiter and the Northern Palm Beaches Keep Falling

Homes under contract in Jupiter remain at the lowest levels we have seen in years

A couple weeks ago we told you the Northern Palm Beaches real estate market was acting a bit schizophrenic and that remains the case. Median prices for single family homes in the area were up sharply in December and we expect condominium prices to remain strong when we publish the latest numbers in a week or so. But the number of buyers actually putting a property under contract keeps dropping.

Pending Home Sales
Just look at the chart above and you can see that since May the number of homes under contract just keeps getting lower and lower. Over the past 30 days pending home sales in Jupiter and the surrounding communities has dropped another 6.5%. We trail year ago numbers by 5.3% and remain almost 19% behind the 12 month moving average. About the only hint of good news is over the past 2 weeks things have stabilized with little further declines.

With the streets, beaches, shops and restaurants as crowded as we have ever seen them the fact that buyers cannot find homes to buy is certainly concerning. Will limited inventory slow sales dramatically? Will buyers be willing to pay more and more for homes based on limited supply? Will more sellers enter the market in the coming weeks to help supply product for anxious buyers? We think the answer to each of these questions will be yes.

The fact remains that if you are looking to purchase a property in Palm Beach or Martin County you better have a game plan and the ability to make quick decisions. We specialize in putting our clients in position to win and if we can be of any help to you please feel free to contact us. 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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