Jupiter home sales surge higher

Over the past 9 months there has not been much good news when it came to Jupiter area home buyers writing new contracts. As of January 15th, the number of homes under contract in the Northern Palm Beaches had fallen an amazing 46% since May. Certainly seasonal factors are in force but this time the fall has been steeper and brought pending home sales to the lowest levels we have seen in many years.

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Then during the second half of January home buying picked up and just in time. It was a very solid two weeks with pending home sales in the Jupiter area surging over 17%. Last year during the same period pending home sale were up 5%. Yes, it has been a very good two weeks for new real estate purchase contracts being written.

What caused the surge is hard to say. Traditionally seasonal home buying is strong and it may be pent up demand. Interest rates have stabilized so perhaps buyers trying to lock in before another potential move higher. Median prices of condominiums and single family homes have been stabilizing. Inventory levels have grown so perhaps better options.

It is also the time of the year we expect to see more homes being listed for sale. Home buyers in the Jupiter area have more choices today than they have had since April of 2014. Over the past month the number of homes on the market has jumped almost 14%. Last year during the same period they were up about 12%.

More choices, interest rates stabilizing, seasonal visitor crowds bigger than ever, prices stabilizing, times are good. Or at least they have been for the past two weeks. Location remains a key factor as are home sellers who seem to be reaching for the stars with list prices. The weeks ahead are going to be very interesting.

We just showed a few Jupiter homes to a client moving into the area and forwarded them a detailed analysis of two homes that they really liked. In one neighborhood the current inventory level was over 41 months and nothing under contract. In the other neighborhood inventory was 4.3 months with houses selling well. Same town, same price point, totally different metrics surrounding homes that were both very nice.

Information is your best friend when making decisions about real estate. Being educated is critical to limiting your exposure to mistakes which can be very expensive. If Paradise Sharks can ever help you understand what is going on, please feel free to contact us at 561.308.0175 or info@paradisesharks.com for a totally complimentary consultation. We don’t sell you. We educate you so you can make fully informed decisions.

Fins up……

#jupiterrealestate

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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?

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