Jupiter Home Sales – No Summer Time Blues Here

August 1st numbers 12.3% higher than last year

This summer Paradise Sharks decided to run our “Summers Saving Splash” where we give each of our buyer client’s a cash rebate at closing equal to 15% of the commission we received on their transaction. It’s really just a sign of gratitude for doing business with us during the “slower” summer months. As we start seeing numbers, this summer hasn’t been that slow. For Paradise Sharks, or the overall market here in the Northern Palm Beaches.

As of this morning, pending home sales are down. But not by that much. Over the past 2 weeks a drop of about 1%. Over the past 30 days we are down about 3%. However, keep in mind we are coming off some of the highest pending home sales numbers we have seen in a couple years. As of August 1st, pending Jupiter home sales, and those of her neighbors, are 12.3% higher than they were last year at this time. Sales are solid, even for the “slower” summer months.

Inventory
What makes these Jupiter home sales numbers even more impressive is inventory, or lack thereof. Look at the chart and it is hard to imagine a steeper drop than we have seen in the number of homes available for buyers to choose from. Over the past 6 months the chart looks more like a ski run called Rambo out in Crested Butte which is the steepest cut ski run in North America. There is really not much out there for buyers to choose from. Since February the number of homes buyers have to choose from is down 21%. A steep slide indeed. Just over the last month numbers are down about another 5%.

This battle between slower summer Jupiter home sales, that aren’t that slow, and fewer options for buyers will continue. So far, prices have been rising but we expect them to stabilize and even pull back here for a while. We think these next few months are good buying opportunities. Once seasonal demand comes into play watch out as prices might start moving significantly. It really is starting to feel a lot like 2004. Be careful, the waters deep.

Fins up……

Tom Priester
Principal Broker

Paradise Sharks
561.308.0175
info@paradisesharks.com

#jupiterhomesales

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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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