April continues to shape up as a strong month for the real estate markets in the Northern Palm Beaches. As of April 15th, the median condo price in the area is up again for the 3rd straight month. Over that 90 day stretch the median price of a condominium in the Jupiter area is up over 6.2%.
While 2016 sales levels continue to lag behind year ago numbers, April is looking to be a month we may start catching up. Last year there was no growth in pending home sales in the Jupiter area and here we are on April 23rd and so far up about 6.7% for the month.
Over the past month, actual closings of condominium sales have rebounded nicely with more units sold in the Jupiter area than we have seen in ten months. Condominium sales are up over 60% from where they were just a couple months back.
But do not get complacent as we are seeing signs of consolidation and even some slowing, especially in the single family market. There is no doubt about the fact that the condo market has outperformed the single family segment so far in April. Big discrepancies in inventory levels in different neighborhoods so as always know your numbers. If Paradise Sharks can ever be of help in any way please feel free to reach us at 561.308.0175 or firstname.lastname@example.org