Jupiter home sales sputter

We have been telling you about the summertime blues in the real estate market for weeks. They are somewhat inevitable, but this year they feel a bit different. It’s not as much about demand with much of the blame to be put on the supply side of the equation. There are not enough well positioned homes for buyers to choose from.

BLOG PICTURE

So, Jupiter home sales sputter as they do in all of the municipalities that make up the Northern Palm Beaches. Since April 1st, pending home sales have been down for three straight months. Over the past 30 days they have fallen almost 13% but that isn’t the big story. The big story is where we stand compared to past years. The number of homes under contract in the Jupiter area are down 16% from where they were a year ago. Go back to 2015 and we are down by about 22%. Compared to 2014 we are down by 19%. You get the picture. Sales of Jupiter homes this summer are slower than one would hope.

Let’s face it, the political divide in this country has many on edge. But all one has to do is look at home prices to see it’s not demand that appears to be sick. As of today, the median priced single family home in the Jupiter area is selling for $460,000. It has been rising for 5 straight months. Up almost 8% from the $426,500 from where we stood back on February 1st. The run up of median condominium prices has been even more impressive, up over 10% between February 15th and June 15th.

The lack of demand isn’t slowing sales it’s the lack of homes willing buyers have to select from. The inventory of homes on the market is down again for the 4th straight month. History tells us it is going to get worse and we badly need listings. Good listings. Expect fewer homes to hit the market over the next two months. Paradise Sharks is running a promotion through the end of July in hopes potential sellers who might be on the fence decide to sell. Our maximum commission rates drops from 5% to 4.5% on any listing agreement signed prior to July 31st with Paradise Sharks as the broker. Contact us anytime at tom@paradisesharks.com or 561.308.0175 and we would be happy to discuss options with you.

 

Fins up….

 

 

#jupiterhomesales

Advertisements

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?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s