If you have been paying attention you know home sales in the Jupiter area have been in a slump. Pending home sales down for six straight months. Down almost 40% in that stretch. Down to the lowest levels we have seen in years. We expect drops this time of the year but not like we have seen in 2016. There is no doubt fear being caused by the condition of this countries economic future and the mud slinging festival this years presidential campaign has turned into. In another 4 days it will thankfully all be over and hopefully we have a winner. Whatever side you are on I have not met many people who love their candidate and are not concerned about where we are heading. I remain hopeful that whoever is elected can do something positive to getting America moving together as a team but I am concerned.
So far median single family home prices in the Jupiter area have been holding steady near 10 year highs despite the pull back in new contracts being written. As of November 1st, median prices dropped ever so slightly by $3,000 down to $436,000. With the slowdown in demand one would think prices would be pulling back but so far none of that here in the Northern Palm Beaches.
This will be Paradise Sharks last market update until after the election is over next Tuesday. The results of that election will be the starting point of where we go from here. We will be watching and keeping you up to date on everything real estate here in the Jupiter area. If we can be of help in any way with anything real estate please feel free to contact us anytime at 561.308.0175 or firstname.lastname@example.org.