JUpiter Real Estate

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

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 Ocean Grande Condos- Jupiter Oceanfront Condos

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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Jupiter Homes for Sale

Jupiter Home Sales Report

   Welcome to our Newsletter

It has been several weeks since my last Jupiter Report and I am continually amazed at the listing prices of many new homes and condos coming to market. Some of the listing prices have me looking twice at times. In this weeks sales a waterfront home that was bought last year at $855,000 sold for $1.35 million. The owner did some painting, put some wood floors in and spruced up the house to sell.  Even lower end properties such as Riverwalk sold for $153,000. It  has sold twice in the past three years. Started as a foreclosure for $53,000.

You keep hearing me harp on inventory but a few communities here along the beach have no inventory or very little.  Ocean Walk has almost 200 homes, 2…

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Jupiter Beach Condos

Jupiter Oceanfront Condos

Jupiter Top 10 Homes

My 10 Best list remained status quo this week.

Corinthians - Direct oceanfront! 3Bd $749,000

Ocean Club-   Closest condo to the beach! 3Bd w/9ft ceilings -$900,000

The Tower - Juno Beach 2bd/2Ba condo sits on the sand. Priced at just $350,000. Don't miss this deal! 

Seagrape -   NE corner remodeled condo with beautiful ocean views. Just 4 units per floor. $409,000

Ocean Walk - Updated/ expanded popular A model. Walk to beach. One of Jupiter's most popular beach communities.

Canterbury Place Townhome - 3Bd w/ 2 car garage and outdoor patio- $315,000

Jupiter Ocean Grande -7th floor w/ private pool cabana - $ 1,100,000.

Seawatch - Direct ocean on Jupiter Island - $675,000

…

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Jupiter Oceanfront condos

Season is fast approaching as we watch the car carriers unload car after car of the out of state plates. Just before Thanksgiving we see the snowbirds arrive here in Jupiter and get ready for their winter stay. Soon the out of state plates seem to outnumber the Florida tags or it at least seems so. They come down and get themselves situated and then head North for the holidays with their families.Once the holidays are over they waste no time in getting back to sunny South Florida and warm temperatures. It sure beats starring out the window at overcast grey skies and snow on the ground. Much easier to shovel the sand here than the snow up North. Ask any 5 year old. Funnier too. 

Jupiter Ocean Condos

Not sure what you want so let us guide you through…

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Jupiter Oceanfront condos

Jupiter Ocean condos

Season is just around the corner here in Jupiter Florida. With inventory levels at an all-time low finding properties for buyers can be difficult at times. Many condo communities have no homes for sale or just a few. As new condos come to market we are seeing increasing asking prices from 10% to 20% above recent sales. Sellers are now realizing with high buyer demand and low inventory they can control a better part of the deal. It is switched from a buyers market to a sellers market rather quickly and caught many by surprise. With prices in some communities still 30 to 50% below the peak of 2005/ 2006 we are still seeing value in Jupiter real estate.

waterfront condos

Finding a Jupiter oceanfront condo can be difficult unless…

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Jupiter Oceanfront condos

Jupiter waterfront living

Season is just around the corner here in Jupiter Florida. With inventory levels at an all-time low finding properties for buyers can be difficult at times. Many condo communities have no homes for sale or just a few. As new condos come to market we are seeing increasing asking prices from 10% to 20% above recent sales. Sellers are now realizing with high buyer demand and low inventory they can control a better part of the deal. It is switched from a buyers market to a sellers market rather quickly and caught many by surprise. With prices in some communities still 30 to 50% below the peak of 2005/ 2006 we are still seeing value in Jupiter real estate.

Jupiter real estate

Finding a Jupiter oceanfront condo can be difficult…

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Jupiter Home Sales

Jupiter Home Sales

This week we saw homes sales in Jupiter jump dramatically from 54 to 82 homes selling this week. These are sales numbers we see during our peak season and not the first week of October. Strong buyer demand will continue to put upward pressure on prices as supplies shrink. Bay Colony sent out a close out incentive on the higher end marina collection which start at $600,000. The less expensive collection are selling faster and they start in the mid $300,000's and go up to just above $400,000. The under $500,000 is still the strongest market segment. The $500,000 to $900,000 is probably the weakest market segment now and the above 1 million remains strong. I'm seeing alot of buyers looking for $100,000 condos, more than I have ever seen.…

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Jupiter Beach Condos

Jupiter Oceanfront Condos & Beach Communities

There is an Oceanside Terrace townhome at 1801 S US Hwy 1 that was listed last week at $239,000 with  a small pool in the courtyard. All original condition. Last sale just a few months ago without a pool was $180,000. A $59,000 price increase for a pool. A Jupiter 1 townhome next door at 1420 Ocean Way was recently listed at $289,000, $50,000 over the last sale. The sale just before that was $215,000. In the Surf at 900 Ocean Dr in Juno they just listed an original condition 2Bd for $439,000 with comments: owner not flexible. Last sale was $365,000 but it's the only condo for sale in this building. These are just a few examples I've noticed in the past few weeks. It is a growing trend with higher asking…

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