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March 2014

Found 3 blog entries for March 2014.

 

Jupiter Real Estate

Hello Friends & Neighbors

Season is coming to a close but I am expecting the season for home buying to continue several months past the normal timeframe of April for several reasons. The blistering winter in the Northeast slowed home sales both in the Northeast and here.  Flights were constantly cancelled and delayed with many buyers coming here to relax more than shop for homes as their vacations were shortened.  Season overall for local businesses were the best they have seen in years. All good signs for Jupiter and the real estate market. 

I received the market update for Palm Beach County this week and the numbers were quite surprising. The median home prices are up 15% from last year at $272,000 with days on market

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Jupiter Yacht Club Condos for sale

Jupiter Yacht Club has just 5 active listings with 6 condos under contract awaiting closing. Four of the five are listed at over 1 million and the highest asking price is $1,969,000. Of the 8 sales over the last year 5 have been over a million. I went back to 2006 to see what the average condo sold for in the Yacht Club. I picked a Penthouse non corner unit which sold for $1,225,000. With today’s selling prices you can see we are rapidly approaching the peak we reached at the high market times. In fact in a few corner units we are seeing prices at the peak 2006 prices.  They just sold a Penthouse Jupiter Yacht Club corner for the same sales price as 2006. How will future prices be affected in the next few years? We

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Jupiter Oceanfront Condos 

I did some data collection on sales in Jupiter Ocean Grande and you will be quite surprised of the results. There are just 5 condos active in the JOG and 4 of the 5 are 3rd and 4th floor condos. Lower floors are always much more difficult to sell. We saw two sales break the million dollar mark in the past 6 months with one just shy of $1.1 million.  One of the condos sold at nearly the same price as it did it 2007 when prices weren’t far below the bubble market. The highest sales in here were just over $1.2 million at the peak in 2005/2006. We are rapidly approaching those prices again. The difference is they are not investors buying the properties but homeowners so we should not see a collapse as we did in 2006. The other key

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