Jupiter Report Feb 15, 2012

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This week we saw home sales fall from 73 to 37 for the week. This surprised me when I saw just 37 homes close for the week. I am really  perplexed to see such a low number after the staggering sales numbers the week before. Average is about 50 or so per week, so let's see what next week brings. Every agent I speak to seems to be busy, I really think people are coming down and their expectations aren't being met in several ways. Lack of inventory, not many updated homes and prices higher than they expected. What I think is happening,  many are looking, can't afford or find what they want and are not buying.


One of my customers( Thank you Joe) this week sent me a great article from Barron's regarding the real estate market here in Florida. It is the first well written article I have read in a long time where the editor actually did some homework or he lives in Florida. I have been here 30 + years and as long as I can remember people migrated North from Miami. Now Lauderdale and now even  South Palm Beach County. Here are a few lines from the article.


"  I don't say go out and buy the junk condos being peddled in Miami or one of the hundreds of single-family homes sitting empty in areas like Port St. Lucie and Cape Coral.

. U.S. baby boomers on the edge of retirement and looking for serenity—not the hustle of Miami, Naples, Tampa and other overbuilt markets.Also in the market are South Floridians moving north for better schools, less crime and a better quality of life. For the first time in years, they are buying oceanfront homes and condos along the Treasure Coast (which stretches along the Atlantic, from Jupiter and Hobe Sound up to Sebastian"


                    Read the entire Article by clicking the link below:


                                    Barron's Real Estate News




In this weeks contingents the trends continue with 10 properties of the 35 going under contract in 30 days or less. An additional 7 in 60 days or less and 5 more in 90 days or less. 23 of 35 properties went under contract in 90 days or less.




In this weeks sold's you will see the 119 Ocean Key townhome that was on my 10 Best list sell for 1 million. You should also notice 782 Seaview selling for $284,000. The unit sat on US 1. The worst townhome in the community. The last two sales in there were $242,5000 and $247,000 for similar condition units but not on the highway. Again trending prices are rising.


Last week I spoke about Xanadu not having a sale in 2 years. Well this week the lowest priced home in Xanadu went under contract. The price hadn't dropped but it was one of the least expensive beach homes available on the market. Why all of a sudden did it sell? Inventory choices are dropping and people are going to have to settle, They may not be getting  exactly what they had wanted but what is available for sale. 


I wrote up 3 offers this week on various different types of properties. The sellers came down on their asking  prices and than just stopped negotiating. The buyers wouldn't come up to the sellers price and the deals fell apart. You wouldn't see that last year. More sellers are seeing increased showings on their properties and are less willing to negotiate with what the buyers are offering. The last 3 of 4 deals that I did get together, the sellers held their ground and dictated the selling price. In fact one home I sold in Summerfield this week the buyers lost three homes to other buyeres before they settled on the home I had for sale. It was there fouth choice on their list and the first three were bought out from underneath them in less than a week. So you can see that the market is becoming equal or even favoring the sellers in some cases.


Along the beaches in Jupiter and Juno there are just 45 condos listed under $400,000 with ocean views. 25 or so are in Ocean Trail, which are direct oceanfront 1100 sq. ft condos.

None of the other condos are direct oceanfront. There is not one condo in Juno Beach available for under $400,000 with a true ocean view.


The last Brigadoon condo went under contract this week. There were 3 condos in the past two weeks sell in Brigadoon that had been on the market for a year or so and in two weeks they all went under contract.    


In my 10 Best last week the waterfront home at 263 River Dr in Tequesta Country Club went under contract. The buyer bought it last year for $1,250,000 and did some remodeling and flipped the house in less at an asking price of  $2.1 million in less than 117 days on the market.




If you are serious and you are receiving new listings from me each week you really need to pay attention to the listings. If a property here in Jupiter catches you eye, pickup the phone or email me. I will be happy to give you my opinion, good or bad. Most of you who know me, I don't sugar coat it to sell you a property. I will tell you the truth about what I think and than you can decide. If you aren't receiving exactly what you are looking for, call me and we can discuss your needs and I can focus in on property searches for you.


                  Top Ten Report 

I added two properties this week to my 10 best as the list is getting shorter from all the sales that were on my list. This week 200 Ocean Trail and 263 River went under contract.

2201 Marina Isle Way #404 - Bluffs Direct Intracoastal view and completely remodeled last year with hurricane sliders, new baths and kitchen. Even the laundry room has kitchen grade cabinets. The best I have seen in a long time and sits right on the Intracoastal. Won't last a week!

250 Beach Rd # 303 - Jupiter Island -Remodeled oceanfront condo with views looking down Jupiter Island at the Jupiter Inlet. Condo shows beautifully. If you want Jupiter Island on a budget here it is.

 Jupiter Ocean Grande - 4th floor Grand Bahama Model                                             Complete remodel. Owner is Interior designer. Over $200,000 in upgrades!               Take a look at the photos. $ 899,000     

Jupiter Ocean Grande #707 - Just Reduced $25,000 last week!  Reducing another $25,000 Tomorrow to $899,000.

 Best view in the complex and the best condo/view under 1 million.

Real wood floors. Plantation shutters. Owner says Sell!


Jupiter Ocean Grande #307 - Just reduced to $599,000 . Third floor overlooking the pool. Least expensive condo in Jupiter Ocean Grande.


200 Ocean Trail $ 329,900 - Direct oceanfront with brand new Gourmet kitchen and newly remodeled master bath. Must Sell! This one will sell this week! Under Contract!



5550 N Ocean Dr #16A in Water Glades on Singer Island $ 459,999. This is a larger updated corner unit like Dunes Tower in a nicer complex at twice the price of Dunes Tower but still a well priced condo. Under Contract!


Corinthians - 176 Helios #603 Penthouse SE corner.

Incredible ocean views and views of Lake Olympus to the side. Light and bright Penthouse.


Broadview - 200 Intracoastal Pl # 406 $205,000. Look at the view from this unit.

141 Seabreeze Circle- Walk to beach, shows really well with many upgrades. Reduced to $215,000. Best Value for a beach area townhome. Under Contract!

Estuary Great 2 bedroom with loft area. 1 car garage. Hurricane glass on patio with beautiful golf course views. Unit is spotless with updates including new master bath and shower. Priced great at $299,000. Under Contract!

263 River Dr - Direct wide river views. House was built in 1993 and has the soaring ceilings and was just gutted from top to bottom. Boaters , Don't miss this home. Listed at 2.1 million. UNDER CONTRACT!


I also added one of my favorite buildings Ocean Royale. A 4th floor condo in the front building with beautiful ocean and beach views. 3 bedrooms and all the amenities. Just the right height and not to high. Don't miss this condo. Reduced to $ 1,025,000.


 Beachcomber ground floor condo, 3 bedroom condo with a carport. Step outside to the community pool and just 150 ft from the ocean. Take a look at this unit. Just reduced to $325,000!


127 N River Dr in North Fork is back on the market. This is a beautiful custom 4 bedroom 4 bath home with 12 ft ceilings in living areas, pool overlooking lake. Beautiful custom kitchen. Short Sale at $519,000.



  Click the link below to view each property in my

10 Best Report below.



                  Jupiter Top Ten Report



Email me to set up your new search criteria so that you get new listings emailed to you each week. Be the first to look at new homes on the market and get the best deals out there.



Jupiter Oceanfront Condos

         Jupiter Abacoa Homes

 Jupiter Homes              

Jupiter Waterfront Homes


Each week the Jupiter home sales report is done with my customers in mind. I hope the report assists you in being a more informed Jupiter home buyer and provides you with  a wealth of information about the Jupiter real estate market.

Posted by Jim McLane on
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