Jupiter area home sales continue to strengthen

The seasonal buying of property in, and around, Jupiter continues but the strength is not what we had hoped. A volatile stock market has not helped. Limited inventory of well priced homes in the best locations has not helped. Rising median prices of single family homes has not helped. The craziest Presidential campaign ever has not helped. But still we are seeing positive seasonal buying of property here in paradise. Dirt cheap interest rates do help but they are back on the rise, up over 30 basis points in just the past 2 weeks.

The wealthy continue to buy, with home sales in the $1 million+ categories rising both in January and February when compared to last years numbers. However, median income families have little to choose from. In Jupiter, the median household income is about $66,713 according to Sperling’s. When factoring in realistic numbers for property taxes and insurance, assuming you have no other debt and a substantial down payment you might qualify for a $300,000 home. With a median single family home selling these days in the Jupiter area for $427,250 you can see the problem. If you are in the 50% of our population under the “median” income your housing problem is a big one.

Pending HOME SALES

As of March 1st, pending home sales in the Jupiter area are up for the second straight month to the highest levels we have seen since August. They were up 22.5% over the past month which is a significant jump. However, last year during the same period pending home sales jumped 31.7%. Total pending sales as of today are down over 15% from where they were in 2015. Solid performance, but it is easy to see the strength in today’s real estate market so far in 2016 has fallen well short of last year.

Inventory

Meanwhile the number of homes for sale continue to climb, up for the fifth time in six months to new 12 month highs. Many sellers still priced ahead of the market, many homes still in poor condition relative to price. In the best locations any well priced home in good condition that is properly marketed is getting activity, lots of it. Both sellers and buyers need accurate, up to date information, to make wise decisions. The information is out there and if Paradise Sharks can be of help in any way please feel free to reach out to us at 561.308.0175 or info@paradisesharks.com.

 

Fins up…..

 

 

#jupiterhomes

Advertisements

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?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s