Jupiter Area Home Prices Up To 6 Month Highs

Biggest 30 day jump since April 2013

Jupiter area home prices have been on a seesaw since September with no clear cut direction. Up one month, down the next. We have to go way back to July of last year before finding a two month stretch of increasing prices. Pending home sales had been lackluster, inventory has been relatively flat for months and demand had been sputtering. Until 45 days ago. Inventory didn’t change but demand soared and as we have been telling you prices are heading higher. We will put our reputation on the line and say right now that next month the seesaw of median Jupiter area home prices will be over.

Home Prices
February started the ball rolling with median Jupiter area home prices moving higher by 4% to $379,000. With this performance, we remain fractionally higher than the 12 month moving average of $377,350 and about 4.5% higher than year ago numbers. We trail the 12 month high reached back in July by 5.25% and are still 28% the all time highs reached back in 2005. Jupiter area home prices have plenty of room to move from these levels.

The exciting news is prices changed direction on slower sales. The recent increase in pending home sales has not yet made an appearance at closing tables around the northern Palm Beaches. February sales of single family homes in, and around, the Jupiter area were slightly below January numbers, down 13.5% from year ago numbers and 28.5% below the 12 month moving average. But prices were up.

With demand jumping, and we can thank international buyers, baby boomers and our northern friends who are just sick and tired of winter, prices are moving higher from these levels. The 6 month seesaw ride will be over in 30 days. Bet the farm, prices are moving higher. At least through April/May. Too early to say what summer will bring but for now enjoy the ride as your Jupiter area home price is moving higher. 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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