Jupiter condo prices soar to 9 year highs

So far this year nothing has been able to hold back the rise in median condo prices in Jupiter and the neighboring communities. As of June 15th, the median price of a condominium in the Northern Palm Beaches is up for the 5th straight month to $216,500. We have to go way back to 2007 to see higher values.

Condo Prices

Since the beginning of the year, condo prices in Jupiter and the surrounding areas are up about 12%. Compare that to single family prices that have been up and down over the same time period and are relatively unchanged in the $420,000+/- range. Part of this difference is tied to affordability as the median single family home price continues to climb pricing many buyers out of the market.

Even with the increase in the median condo price over the past 9 years we still are about 30% below the all time highs we saw back in 2005/2006. Single family prices are much closer to their all time highs. The last week has been very strong for the real estate market here in the Jupiter area with pending home sales pushing slightly higher and inventory dropping about 1%. We expect pending home sales to slow over the summer months so if the last week’s numbers become a trend watch for pricing pressure to the upside.

Paradise Sharks wants each of our clients to make fully informed buying and selling decisions in any market. The metrics surrounding each property are constantly changing so make sure you understand these numbers when doing anything real estate. If we can be of help in any way throughout Palm Beach and Martin County you will find us very easy to reach at 561.308.0175 or info@paradisesharks.com.

 

Fins up…..

 

 

#jupitercondoprices

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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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