Jupiter Area Home Prices Jump 6.5% in One Month

Median single family home price in the Northern Palm Beaches sets new multi year high.

The great real estate recovery of 2015 continues with Jupiter area home prices moving significantly higher as of May 1st. During April, the median price on a home sale in the region moved above $400,000 for the first time since 2007. Sure, we still lag the market highs we saw in 2005 by about 17% but we are closing in.

Median Home Price
Consider that prices are higher across the board by just about the same number. We are up 6.5% from one month ago, 6.2% from year ago numbers and and 6.2% from the 12 month moving average. The most significant move was compared to February 1st as in just 90 days the median Jupiter area home price is up 11%. With movement like that it would not take too much to have our sights set on an all time new record high price for a the median Jupiter home.

Inventory levels continue to be very poor and have moved even lower this week. Sales have been robust and if demand stays steady watch for higher prices ahead. We are in the middle of spring buying season with little on the shelves to buy. The overall economy remains the key as we live in the “who cares about trillion dollar debts” world and it won’t take much to change sentiment.

The struggle these days is for buyers to find well priced homes in good condition. There are new developments of significance coming our way but prices will be higher. Our friends at Kolter keep pushing back the opening of Alton but the last time I visited with them it sounded like entry level town homes in the community would start in the mid $400’s with single family home product priced significantly higher. Certainly higher than the median price we are seeing today. If the overall economy doesn’t implode home prices here in paradise are heading higher.

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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