Jupiter Fl Real Estate Market
This is the first month that the Jupiter FL Real Estate market has seen inventory has finally leveled out. We're sitting at just over 63,000 + homes for sale on our MLS which is hopefully some positive news for Sellers. Don't get excited to quickly and see what happens in the next few months. I see some sellers are removing their properties as they haven't sold and are waiting for better times. Some sellers have decided to postpone the sale of their house and watch the market before committing to sell. Eventually they will need to sell and will have to list their home which may again increase the inventory numbers unless we see sales pick up.
I personally don't see much change in the market till at least 2026 and then we can expect to see a flat or slightly increasing price escalation. Sellers forget many of their homes doubled and tripled in value in the last 5 years. How many investments can say that? We have a tremendous amount of inventory sitting and until we can work through that, Sellers will face challenging market conditions. It's not going to reverse overnight and until Buyers see condo fees and insurance costs level out they will not be jumping back into the market. There are some great opportunities out there. You have to watch the communities you are interested in and understand the different values. Make an offer and see where it goes. Lets watch the Jupiter Fl real estate market in the upcoming months.
Jupiter Beach Properties For Sale
Just along our little beach stretch in Jupiter we have 217 homes and Jupiter Beach condos for sale. The condos range from $245,000 to 3.5 million and the median price range is $625,000. We have 25 condos in Jupiter Ocean & Racquet, 14 in Ocean Parks and 19 in Marina at the Bluffs. That's quite a selection to choose from. I haven't seen this many Jupiter Beach Properties for sale since 2012.
We have 40 townhomes for sale ranging from $440,000 to $1,960,000. The median price range is $679,ooo. We have 21 single family homes ranging from $899,000 to 4 Million with a median price range of $1.6 Million. This gives you a little insight to how much inventory and competition you are facing and how much time it will take to get through this inventory.
I was speaking with a client last week and one of his neighbors who lived in a Bluffs Ridge home just moved to Riverland in Port St. Lucie. He cashed out at $1.4 million in Jupiter and purchased a similar size home in Riverland for $600,000. Insurance costs were 1/4 of what he was paying in the Bluffs. The HOA fee was a hundred dollars per month more but is gaining access to amenities that dwarfs the Bluffs community pool, tennis courts and pickleball courts. Best of all they are getting a brand new home with modern features and designs. Riverland has 53 pickleball courts, 12 tennis courts, Bocce courts and a 50,000 sq. ft sports complex plus outdoor and indoor lap pools. Take a look at Valencia Homes in Riverland for sale.
Next month I'm going to add a section to showcase a specific Jupiter community and highlight that community as well as the homes for sale. It will bring new information to buyers about the nuances of that community including pet policies, rental restrictions and other factors that may bring consideration to a community you have not thought about or have seen. Look forward to any comments or questions about the Community of the month.
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