Million dollar home sales point to higher prices ahead

At Paradise Sharks we love numbers. We track real estate data every day to keep our finger on the pulse of the market. The same numbers that caused us in 2005 to tell anyone who would listen we were heading for a fall. Numbers tell a story so if you care about real estate values like we do, you pay attention.

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Sales of homes above the million dollar threshold is a critical metric and we keep a keen eye on it. Since the turn of the century only twice has this figure been wrong in predicting where prices were going. Put a pen to that and it means over 86% of the time this single metric has been correct in telling us where prices are heading the following year. You go to Vegas and someone gives you over 86% chance of winning by playing red you are going to play red.

Million Dollar Sales

During 2015 in the Northern Palm Beaches sales of properties above the $1,000,000 price threshold soared over 8%. Sales increased in this price range about 10% more than the overall market which is a very strong performance. They were up for the 6th straight year. Up to the highest annual level we have ever seen except for 2005. If history repeats itself the odds of real estate prices moving higher in Jupiter and the surrounding communities during 2016 are above 86%.

However, do not ignore this metric until another year has passed as we continue to watch for signals. If you don’t, you might miss another signal. For now it looks like higher home prices ahead and our next big sign with this metric will be coming your way in about 20 weeks. If Paradise Sharks can help you make wise real estate decisions please feel free to contact us anytime at 561.308.0175 or info@paradisesharks.com

 

Fins up…..

 

#jupiterhomeprices

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Published by

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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