Jupiter Homes for Sale
Jupiter Home Report
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It has been a month since my last Jupiter Report and we continue to see home sales remain strong with 57 properties selling this week. Our local market report was just released by the board of realtors today and we have some interesting facts.
First qtr sales of single family homes and condos are down 5% from last year but the median prices are up 22% from last year. The median price of a home in Palm Beach County is up from $235,000 to $286,825 this year. This is still a far cry from peak 2006 which had that number at just over $400,000. Several communities are reaching 2005/2006 prices but there are still many other areas in Palm Beach County that are dragging these numbers down. Places like Boynton Beach, Lake Worth and a few other areas haven't seen the rise in prices we have seen here in Jupiter and Boca. Back in the boom people would buy anything anywhere which caused prices to rise everywhere. Now we aren't seeing investors but true buyers and they won't buy just anything. They are very particular buyers and will pay top dollar for god properties. The not so desirable areas are not rising like here. They are still stagnant and I don't see the demand in some of the areas changing anytime soon. I think we are seeing neighborhoods in high demand or just continuing to spiral downward. The communities are going in opposite directions.
The median days on the market is down 34% and inventory supply is up 4.6% over last year. Several factors have caused this rise in active listings, sellers are seeing much higher sales prices from last year and see very little competition in their neighborhood so they are putting their homes on the market at much higher prices. They now have the mentality of wait and someone will pay my price. We are starting to see a bit of stabilization in the selling prices due to the rapid rise in prices over the last year.
Take a look at new listings this week in Jupiter. None of the properties are listed under $200,000. Boy has the market changed.
Here is an interesting property that just closed in Alicante in Juno Beach. The home just sold for $763,000 this week, last sale was 2011 at $609,000 and the prior sale was $617,500 in 2005, almost at the peak of the bubble. Several of the nicer beach side communities such as Juno Beach and Jupiter Inlet Colony are seeing sales prices at peak 2006 prices or higher.
Jupiter Top 10 Homes
My 10 Best list has a few new additions added this week. We added several condos in Brigadoon in Juno Beach. Older building but great design and very well maintained. We added a Penthouse Ocean Club with 12 ft ceilings, a Back Bay condo in Jonathan's Landing with beautiful views. Two Bluffs homes, one on the Intracoastal with a boat dock and a Cote De La Mer townhome with views of Pelican Lake in Juno Beach.
Enjoy my 10 best properties by clicking the link below.
Email me your search criteria and I will be happy to send you new listings as they come to market so that you see the best deals out there. Don't miss that deal!
Juno Beach Condos Abacoa homes Jupiter Jupiter Homes
Jupiter Oceanfront Condos Singer Island Oceanfront Condos
Posted by Jim McLane on