Jupiter home prices continue march to record highs

November has been a month of big change. New President, rising stock market, rising interest rates and in the Northern Palm Beaches, rising single family home prices. As of December 1st, the median sales price of a single family home in Jupiter and the surrounding communities hit $440,000. It is the highest median price we have seen since way back in 2006 and inching closer to all time new record highs.

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Home affordability remains one of our biggest issues here in the Jupiter area and rising home prices coupled with rising interest rates is not a combination that is improving the situation. Over the past 5 months the median home price in the area is up 7.3% and year over year increases sit at 8.6%. This year will mark the 5th straight year of rising single family home prices in the Jupiter area. The last time we said that was in 2005 and we all know what happened then.

The most important thing to keep your eyes on is interest rates and where they go from here. Decisions made by the incoming administration will need to be watched closely and if interest rates rise much further the real estate market is going to change and those changes could be very significant. If the value of your real estate holdings is critical to your overall financial well being pay close attention.

If you are contemplating any moves make sure you interview at least 3 real estate brokers and seek answers to your questions. Quality of services and the fees associated with those services can vary dramatically so be informed. You can always ask any question to the Paradise Sharks team who can be reached at 561.308.0175 or info@paradisesharks.com. We would be honored with the opportunity to earn your trust.

 

Fins up…..

 

 

#jupiterhomeprices

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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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