Jupiter Area Pending Home Sales Soar to 6 Month High

Snowbirds aid in 15% jump

Let’s face it, home buyers in Jupiter and the surrounding communities have been frustrated. The lack of quality inventory in many neighborhoods had stalled sales over the past six months. From May 1st of last year through January 1st of this year pending home sales in the area fell a rather dramatic 31%. Interest rates are low, cash transactions continue to climb and yet sales fell. But in January all of that turned around and rather impressively.

Pending Home Sales
Certainly, we have seen overall inventory increase since the lows we experience back on October 1st but buyers appear to be back in the game. As of February 1st pending home sales in the Jupiter area jumped 15% over the past 30 days. We are back to the highest levels we have seen since August and for the first time in a very long time have moved ahead of year ago numbers. As of today, we are back within 5% of the 12 month moving average. All very good signs as we head into the last 3 to 4 months of what has been a very strong 2014-2015 season.

Median sales prices of single family homes in the Jupiter area moved higher in December to the highest levels we had seen since September. While it is still a bit early to publish the January results it appears that increase was fueled by a very strong month in December and we are looking for prices to pull back in January. Pending home sales have been down for so long it is great to see buyers back in the market during December. Will the increase in sales push median prices higher. We are confident it will but we still have a 30 to 60 day lapse before that shows up in the numbers. Always interesting, always fun.

Fins up…..

Tom Priester
Principal Broker

Paradise Sharks Real Estate
561.308.0175

tom@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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