Jupiter Real Estate Market Report

What's happening in the Jupiter Real Estate Market

The sub $300,000 Jupiter real estate market continues to see homes selling very close to their asking list prices. Most of the homes are selling at 97% or higher of asking price and about $200 per sq. ft at the low end. We did see a big jump in lower priced homes selling this week. 35% of the homes selling were priced under $300,000. The sub $300,000 market is by far the strongest market here in Jupiter and the surrounding areas. Entry level condos are nearly all above $200,000 and most homes under $300,000 are selling rather quickly. The days on market (DOM) are short and many are buyers are cash.
Again the weakest market continues to be the $600,000 to million dollar market with just 7 homes selling…

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Jupiter Real Estate Home Report

Jupiter Real Estate Market

Home sales continue to remain strong for the last week of November with 54 Jupiter homes closing. I want everyone to pay attention to the listing price and the selling prices. See how close many homes are selling to their asking prices. Many Jupiter homes are selling at just a few points off list price and on average most selling for 95 -97% of their list price.

I also noticed quite a few bank properties (REO) selling this week as we get close to the year end. I would say about 75% sold above asking price and 25% below asking price. With bank properties there are many factors involved. Sometimes the buyer pays a 5% premium above the sales price on certain bank owned properties. We are seeing more bank properties selling…

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Jupiter Holiday Boat Parade

Jupiter Holiday Activities

The annual Holiday Boat Parade is this Saturday in Jupiter and Palm Beach Gardens. The parade beginns South of PGA Blvd and heads North to the Jupiter Inlet area near the waterfront restaurants of U Tiki and Jetty's. Unless you own a Jupiter waterfront condo on the Intracoastal you may want to get to some of the local waterfront restaurants to view the annual event. The Jupiter Yacht Club and the Jupiter Riverwalk are great places to view the boat parade. The condos in the Jupiter Yacht Club will give you a view all along the Intracoastal as you watch this event. Each year the event gets larger and larger with more boats and more people watching this event. I remember my very first Jupiter boat parade back in 1997 and there…

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Jupiter Waterfront Condos for Sale

Waterfront Condos in Jupiter

Everyone wants a waterfront condo in Jupiter or whatever town they are looking to move to. Waterfront properties are in high demand and will continue for the next decade or so. Here some of the best Jupiter waterfront condos have climbed drastically in price. Jupiter Yacht Club condos are up 30-40% since the low of 2010. The least expensive condo is listed at $949,000 with no water view. In the dismal days that same condo sold for $600,000. The different condo communities rise and fall at various times. Jupiter Ocean Grande is up but not near what JYC has gone up. Jupiter Ocean Grande seems to be stagnant as many of the condos need some updating.

Jupiter's best Condos

With the last oceanfront condo in Jupiter…

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Jupiter Real Estate Sales Report

Jupiter Homes for Sale

Home sales saw a huge surge this week with 50 Jupiter homes closing here in the second week of November. This is a strong showing for our off season even with our limited inventory. This week we saw just 4 homes sell for under $200,000, a rare commodity here in our area. We also saw 11 homes sell between $200,000 and $300,000. More than 50% of home sales this week were over $350,000. 

The least expensive oceanfront condo sold for $362,500 or just over $300/sq.ft. This would be a 1980's original condition condo that needs updating. The other end of the spectrum we saw a Ritz Carlton Singer Island condo sell for $600/sq. ft. This unit had a city view and no ocean view.   

The choices of luxury condos is slim…

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Water Club Condos - New waterfront condos

New waterfront condos North Palm Beach

Tonight I visited the new Water Club Condos Sales office and picked up information about this new project on the water in North Palm Beach. Located next door to Old Port Cove a waterfront community that has been there since the 70's. This new project by Kolter will feature two - 22 story waterfront condos featuring a North and South Tower as well as 20 Villa residences on 7 acres overlooking the Lake Worth waterway and out to Singer Island with the ocean views as well.

The condos will feature 2 and 3 bedroom plus dens ranging from 1,728 sq. ft to 2,602 sq. ft under air. Twelve Penthouse units will be up to 3,300 sq. ft under air with extra large terraces. Terraces will range from 300  to 444 sq. ft in size…

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Jupiter Home Sales Report

Jupiter Real Estate Report September 2014

South Florida rose to the top of the nation’s leading home price index in August, with gains of 10.5 percent from the same time last year even as home market momentum slows.

The increase in the tri-county region of Palm Beach, Broward and Miami-Dade counties put the area in first place nationally for price growth, according to the Standard & Poor’s/Case-Shiller index.

  This is an article from the Palm Beach Post and is pretty  self explanatory. We are #1 in the entire country for rising prices.  You will notice this in the recent sales for the week as well as price changes, new listings and contingent listings. 

This week's new listings has just one listing under $200,000 and just a few properties…

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Singer Island Condos- Beachfront Living

Oceanfront condos on Singer Island

When looking for condos here along the Florida coast you must stop and visit Singer Island. The narrow island affords incredible water views from almost any condo on the island.  Ocean and Intracoastal views and many times both will be seen from your oceanfront condo.  Singer Island sometimes gets  a bad rap because of Riviera Beach on the mainland but most people that live on the Island exit off the North end into PGA Blvd which is a mecca of shops and restaurants. PGA is the one road where you will find everything you could possibly need or want.

Singer Island Condos for sale

Pick a budget number out and start searching for Singer Island condos online. You will see every condo with photos, maps, bird's eye…

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Jupiter homes prices expected to continue to rise

Jupiter real estate trends

A recent article in the Palm Beach post this week reiterated what I have been saying for the past year about real estate values in northern Palm Beach County in areas such as Jupiter and Juno beach. Inventory levels continue to decline especially in the sub $300,000 market. Even the high-end market has limited inventory. I have seen a dramatic rise in selling prices in all areas of the market including single family homes and condos. The biggest rise in demand and pricing seems to be waterfront homes and direct oceanfront condos, once again showing the value of waterfront property. 

According to the Seattle-based housing research firm Zillow, home values in northerm Palm Beach County will continue to grow, but at a slower…

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Jupiter Florida Real Estate Report

Jupiter Homes & Condos for Sale

                   Jupiter Home Report

   Welcome to our Newsletter

     Home sales continue to move at  a slowing pace after weeks of strong  sales here in the Jupiter area. We saw  37  homes close last week and expect similar  amounts until year end.  Last week, my featured property in Oceanside Terrace was listed at $229,000. A new listing in the same community with an updated kitchen and a few other upgrades came to market at $295,000. The $295,000 condo went under contract and immediately  the $229,000 unit went under contract as well. When that $295,000 condo went  under contract it made the $229,000 unit look like a true bargain. The $66,0000 price difference left plenty for renovations.  Once again there are…

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