Million dollar home sales in Jupiter area fall during January

The 2016 real estate game here in the Northern Palm Beaches is off and running and most interesting indeed. We keep a close eye on sales of properties that close above $1 million as the upper end sales activity is extremely important to overall market strength. During January these sales in the Jupiter area declined 20% from December levels. Compare that to the increase of 14% we saw last year over the same period. The good news is sales in this category were 16% higher than we experienced last January. After one month we are on track to brand new record levels in this category but one month does not make a year. There are a lot of margaritas to drink before we put the wraps on 2016.

Million Dollar Sales

While we see a lot of great signs this market is still one to watch closely. The seasonal buyer so far has not been as active as we would hope. Interest rates are down another 5 basis points this week and are within a quarter point of all time lows for a 30 year conventional fixed mortgage. Falling interest rates tell us the economy isn’t anything to get excited about. The volatility in the equities market is telling us the same thing. We still have almost 9 months of political banter in our face before a decision is finally made in November.

In another 4 days Paradise Sharks will be publishing our mid-month market update for the Northern Palm Beach region. Inventory continues to climb and we expect to report brand new 11 month highs. Pending home sales will be up but, unless a whole lotta buying happens over the next few days, we will fall way short of the 40% growth we saw last year over the same period.

Stay tuned, be informed and 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…..

 

 

 

#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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