Pending home sales in Jupiter area drop for 6th straight month

Lowest mid-month levels since way back in January

Sure, some of it is seasonal. Some can be blamed on questionable inventory. But there is no doubt sales of resale homes in Jupiter and the surrounding areas continue to drop. Down 3.2% from one month ago and down over 30% from where we stood back in April. If there is any good news it is compared to last years numbers we are down only 1% and over the past two weeks we have actually seen a bit of an increase.

Pending

One can sense something changing in the market but too early to put my finger on it. The equities markets have been volatile. Interest rates are dropping again. But the biggest news is our winter visitors are moving back into town and most signs point to another big season. Will they be writing real estate contracts still is the big question.

Right now they simply do not have much inventory to choose from. As of October 15th, the number of properties for sale in the Northern Palm Beaches are actually up over the past 30 days. Sure the increase was minimal, only 5 total units, but it was the first mid-month increase we have seen since January. Still buyers have about 18% fewer choices than they did a year ago. Looking at the highs in January we are down about 22%. Buyers do not have the options they have in the past and if they decide to start buying again prices could move significantly higher.

Stay tuned because this market is changing every day. If the snowbirds of 2015-2016 start buying, prices could soar in some areas. If they decide to hold back anything can happen. One thing we know is Paradise Sharks will have the most up to date analysis available on any property throughout Palm Beach or Martin County. If we can be of help with any of your real estate needs please let us know as we would LOVE to help.

Fins up…..

Tom Priester

Principal Broker

Paradise Sharks 561.308.0175 info@paradisesharks.com

#jupiterhomes

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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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