Median Northern Palm Beaches condo prices up 5.8% in just one month
It isn’t a surprise that the median Jupiter condo price moved higher for the second month in a row. Sales in the area have jumped 65% since January while available inventory has declined. We expect prices to move higher and frankly have been a bit surprised they haven’t moved higher. Well, as of April 15th they have. In a big way.
Over the past 30 days, median Jupiter condo prices, and those in the neighboring communities, have soared. Up an amazing 5.8% in one month. Now these are the numbers we have been telling you were coming. Big, huge, historic one month numbers and once again it is up, up, up across the board. Up an amazing 5.8% in one month, up 5.1% above the 12 month moving average and get this…..up 16.3% from a year ago.
Jupiter condo prices are back up to the highest levels we have seen in 7 years. We are up 58.7% from the lows we experienced back in 2011 and we are heading higher….at least for another month. It was six weeks ago when we told you to bet the farm that single family home prices were moving higher for the 2nd straight month. We thought it was a slam dunk and while prices did move higher not like we thought. Well bet the farm again as single family home prices will be moving higher for a 3rd straight month and we expect more meaningful increases when those final numbers are published in a couple weeks.
We track these numbers daily so we can anticipate the market and properly inform our clients. Over the past week pending home sales have pulled back slightly while available inventory continues to shrink. Be informed, get educated and make wise real estate decisions.
Paradise Sharks Real Estate