Jupiter Beach Homes & Condos

I attached the latest sales information on both Jupiter and Palm Beach County including April's data as well. It's still showing a lack of inventory with pricing fluctuating very little. The days to contract is up from last year but it seems to be leveling out. Basically the market statistics are showing a flattening out across all fields. The market is in a neutral position and not going up or down significantly. This may be our "Normal Market" for some time. Ask us about Jupiter Beach Homes & Condos? We not only sell but live here near the beach.

Pricing and condition of the homes are two of the most important factors when selling your home. You have to be price competitive no matter how well your home shows. Buyers are now sitting back and watching the market. The urgency to buy is gone. There are still plenty of buyers out there but they are more patient and will pass until the right home comes along that fits their needs. I'm still seeing competition for lower end affordable Jupiter condos due to the limited supply but higher end Jupiter real estate are seeing some price reductions.

Owner's are hunkering down and are remodeling instead of trading up. In many cases in makes no sense to downsize or up size. Your taxes are locked in if your homesteaded and if you have a mortgage very few will trade in a 3% mortgage for a 7% mortgage. This reflects in our new listings and month's of inventory.

Prices haven't come down much and in some cases the lower end market shows prices rising due to the lack of affordable housing. I reiterate to buyers a single family home here starts at a $1,000,000 and Jupiter oceanfront condos and town homes are starting about $800,000. This just gets you a place to live and nothing exciting.

What can we expect in the coming months? No matter where you go the prices are holding steady and inventory choices remain slim. A friend of mine neighbors house just sold in Lantana for almost $600,000. It was a typical 1960 ranch style home with no garage. Even she could not believe it.

The cost of living and inflation has pushed the cost of home ownership to record levels. Not only the initial cost but the cost to maintain and own the home.