Jupiter home prices start to move higher

Median prices of single family homes and condominiums in the Jupiter area have been treading water for quite a while. But with recent strong moves in pending home sales we are finally seeing new price records being set in both market segments. The median price of a single family home in the Northern Palm Beaches has broken out and hit new 11 year highs of $438,500. Median condo prices are also up and at $218,000 the highest we have seen in 10 years.

Pending with logo

As of April 15th, pending home sales in the Jupiter area have been up strong again for the 3rd straight month. Over the past month, they are up another 8% but the pace of increases has slowed and it is obvious the season is winding to a close. There is little doubt with our seasonal visitors leaving the number of pending home sales will be retreating and it is a big guess as what is ahead for the summer months. Odds are prices will stabilize at best unless there is some fantastic economic news ahead.

After climbing for 7 months, we have seen the number of homes available for sale pull back for the first time since August. If you are looking for a home to purchase you will quickly realize that in most price segments and neighborhoods, inventory of well priced homes in good condition, are in short supply. The truth be told there is a lot of mediocre inventory out there. As of this afternoon, over 9% of single family home sellers in Jupiter have once again lowered their list prices over the past week, which shows us the market is not as strong as we would like and sellers are still realizing that buyers, even with prices rising a bit, remain very price conscious.

With so few really good opportunities out there these days buyers need to be properly positioned with a game plan and have the ability to show some patience waiting for the right property. Paradise Sharks would be honored to assist you, if you are buying or selling, so please feel free to contact us anytime at info@paradisesharks.com or 561.308.0175.

 

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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