Median Jupiter condo prices up 8.9%

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by Tom Priester

Yesterday Donald Trump was sworn in as President of the United States. Today demonstrations are planned all over the place. Welcome to America 2017. Not doubt this signals a drastic change for America and really the entire world with many questions. The press hates Donald and Donald hates the press. My prayers are directed at wise choices being made across the board for the future of this country and our role in the world. Praying for more love and less bombs.

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As we kick off the new America we still struggle with affordability as a key factor in where the Jupiter real estate market will go this year. As of today the median condo price in Jupiter and the rest of the Northern Palm Beaches is up to $210,000 from the $205,500 we sat at one month ago. Still off $5,000 from our 12 month highs and a long way from the record of $280,000 we enjoyed before the bubble burst back in 2006. Looking back at year ago numbers todays median condo prices in the Jupiter area are up by 8.9%.

The number of sales, as expected, were low but pending home sales finally over the past week are starting to pick up as we expect this time of the year. Watch for slow condo sales for another 45 days before they start picking up. Historically March, April and May are the months where we have the most condo closings so expect pending condo sales to start picking up steam. Right now is the absolute best time to sell a condo in the Jupiter area. Watch for median condo prices to continue rising for the next few months. We expect new 11 year highs to be hit very soon. How high they go will depend on the demand we see this season.

The affordability “issue” actually helps condo sales and prices. At this moment, the median single family home price in the Northern Palm Beaches sits at $435,000. Many of those who are looking for a home here in paradise can’t afford prices like that so condominiums fill that void. Watch for stronger condo sales and higher median prices in the weeks ahead.

Remember when doing anything in real estate that information is your friend. Always look to be educated and not sold. Interview at least 3 real estate brokers when buying or selling and as always Paradise Sharks would be honored for the opportunity to earn your business.

 

Fins up…..

 

 

 

#jupitercondoprices

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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?

2 thoughts on “Median Jupiter condo prices up 8.9%”

  2. Rav,

    Property taxes in Florida are certainly not inexpensive but are offset by no income tax. Overall, Florida enjoys one of the absolute lowest total state rates in the country. Please see the Kiplinger article in this link ranking Florida with the 3rd lowest state tax burden in America;

    http://www.kiplinger.com/slideshow/taxes/T054-S003-most-tax-friendly-states-in-us/index.html

    People need to properly plan for property taxes with our very favorable homestead laws. The critical assessment is when you first purchase. There are ways to protect yourself but you have to know how the system works.

    Tom Priester
    Paradise Sharks

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