Median single family home price in Jupiter drops for 4th straight month

Median home price dips below $400,000 for the 1st time since April

Over the past 30 days the median single family home price in the Jupiter area has dipped 1.25% which isn’t a huge drop. But added to the 3 other straight declines we have seen since July 1st, prices have fallen back a total of 8.4%. The silver lining in this cloud is year over year prices are still 6.7% ahead of where we were in 2014.

Prices

Some feel the market has gotten ahead of itself and this is just the beginning of a more significant slide after 3 years of higher prices. Paradise Sharks watches these numbers closely to keep our clients informed as we feel educated decisions are the best decisions in any market. This isn’t 2005, not even close but you still want to be careful. When buying a home look for a property you will enjoy living in and buy one that you feel you can comfortably afford, good times and bad. Find a home, not an investment.

We knew summer would bring a seasonal slowdown but are surprised it was so strong. We thought prices would hold. They didn’t. Our stance could change but we still see strong demand ahead during the winter months with prices moving higher. The reality is we are are happy to see prices retreat and think it is healthy for the long term market. In reality the gains of the past 3 year have not been huge and the Northern Palm Beach County does not play by regular rules. It is an amazing place to call home and it seems everybody wants to be here.

The population is rising, international demand is strong even with the strength of the US dollar putting a damper on buying from this market segment and it still remains less expensive to buy than rent in many areas. Certainly there are concerns: the overall economy, the fact that the average household income doesn’t even come close to qualifying to purchase a median priced home, a 19 trillion dollar debt and a divided country with 12 months of campaigning still ahead.

When doing anything real estate seek knowledge. make educated decisions and find a broker who wants to make sure you have the information needed. Don’t be sold, get educated. There is a reason we spend time researching the market instead of attending Tom Ferry seminars. If we can be of any help it’s what we do and you can always get us at info@paradisesharks.com.

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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