Best Jupiter Condos for Sale

Jupiter Home Report

   Welcome to our Newsletter

It has been a month since my last Jupiter Report and we continue to see home sales remain strong with 68 properties selling this week. The overall real estate market here in Jupiter and Juno Beach continues to be a popular place to purchase. Some buyers are getting slowly priced out of the market here and I expect them to move North to find more affordable homes. 

I did read an interesting article in the Palm Beach Post stating condo sales have been in a 3 month slump with sales down 11% from this time last year but prices were up drastically. Condos are usually a bit more difficult to finance as banks have been burned in the past when their is a glut of condos for sale and investors are speculating.  Condos can be  a bit more difficult to finance and I recommend you use a local mortgage broker in the area as they are familiar with many of the quirks of condo financing.  The biggest reason for declining condo sales are low inventory and higher prices. Needing a larger down payment on a condo vs a single family home can also eliminate many first time home buyers who in the  past bought a condo as a stepping stone into real estate. The investors are done purchasing in most instances as they have seen prices rise dramatically and leaving condo purchases to first time home buyers which may find financing a bit more challenging.  I still feel the low inventory is the largest factor contributing to declining condo sales. You can't sell what you don't have. I'm not talking about oceanfront condos in the case but your basic entry level condos that make up the bulk of the condo purchases. The effect this has had on the market is causing more younger people to rent and the limited supply of rentals is driving up rental prices. Builders are seeing this and are putting alot of their efforts into building rentals. There is a huge new section in Abacoa of just rentals on the outskirts of the community. The less desirable land  that may be next to commercial property makes a great spot to throw up rentals.                                                                                                                              

  Rentals have become very difficult to find. I looked for an annual rental for a 2bd condo in Jupiter under $1500 per month and found just 19 condos in all for rent. Jupiter has a population of 50,000 people and we have 19 condos available that fit that criteria. Seasonal rentals are just as difficult to find no matter what your budget may be. Forget about seasonal rentals for any period less than 3 months. The demand has driven sellers to accept only 3 month minimum rentals in many cases and with the nasty winter up North many seasonal renter's already booked their unit for next year.

 We have hired some new associates to work with us and have expanded our areas South to Boca Raton and North into Hutchinson Island.

We have several new websites to cover Boca Raton Condos  and Hutchinson Island Condos. Both sites will be fully up and running in the next few weeks. With inventory choices so slim we thought it best to expand and bring the same level of service and expertise to these areas as well. So feel free to call us if you are looking at Boca-Delray or Hutchinson Island real estate.        

Posted by Jim McLane on


Email Send a link to post via Email

Leave A Comment

Please note that your email address is kept private upon posting.