Median Northern Palm Beaches single family home prices soar

We have been telling you it was coming. Even though we still have five days left in the month of January we couldn’t hold back any longer with this kind of news. Median single family home prices in, and around, Jupiter have made a huge move to start the year.

SF home Prices

As of today, that median price for a single family home in the Northern Palm Beaches has moved higher rather dramatically to $438,000. If you own a “median” home in the area, on paper it is worth $30,000 more than it was on January 1st. This is the highest price we have seen since 2006 and less than 10% behind the all time record prices set way back in 2005. This is our 3rd straight monthly jump and over that 90 day period prices have soared by almost 11%.

The question is, where do we go from here? Checking in on median condo prices they are not doing as well. In fact, they look sick. As of January 15th they were down to the lowest levels we have seen since March of 2015. Over the same 90 day period that median single family prices soared almost 11% the median condo price has fallen by over 5%.

Sure, we are in the middle of what looks like a very strong season. But so far the stock market of 2016 isn’t making anyone feel real great. Look at interest rates that are down again today to the lowest levels we have seen since May of 2013. Almost 3 years. Interest rates do not fall like this if everything is looking good. The political division in America is getting wider with hotly contested contests in both parties. Interesting times indeed.

Next Monday, Paradise Sharks will publish our February 1st market update and it is going to be interesting. If prices are going to keep rising, we need buyers to start buying. We saw a glimpse of good news in our last report with pending home sales up 6% over the first two weeks of 2016. We need this strength to continue if prices are to hold these gains and move higher.

If Paradise Sharks can help you make wise real estate decisions please feel free to contact us 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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