Jupiter Florida Real Estate Market Reports


Inventory continues to grow as we hit 38,626 homes for sale today in our MLS up from 30,000 on October 1 and our low last year of 19,000. Inventory has doubled which is great news for buyers but the higher interest rates and carrying costs have put continuing pressure on slowing home sales. Here in Jupiter inventory continues to grow at 564 homes for sale and 135 of them are beach properties which are mostly condos. 17 are priced under $500,000 and 54 under $650,000, yet we have 30 homes/condos priced over a million.See our Jupiter Florida real estate market reports below.


Reading the real estate graphs above doesn't really portray a picture of what is happening in the Jupiter Fl real estate market. From reading the sales prices you would think housing prices are still rising dramatically but that may be interpreted several ways. More expensive homes are selling or housing prices are still rising. Which is it? This is where you have to study the home sales in individual communities. My thoughts are more expensive homes are selling.


I always like to use the Bluffs in Jupiter or Abacoa and I'm going to use the Bluffs as they have 13 active listings ranging from 2 to 133 days on the market and two homes under contract. Of the 13 listings 9 have been on the market for less than 30 days and most over 30 days have had price adjustments. Many of the price adjustments have been upwards of $200,000. There are more homes for sale than we have seen in the community in a long time yet the homes are sitting longer. It used to be if a nice home came on the market and it was scooped up in just a few days with bidding wars.


No matter if original condition or completely updated, if they are not priced correctly they are sitting. Buyers are sitting back and waiting. Buyers are pricing in spiraling renovation costs and downward pricing trends they expect to see. Renovation costs have skyrocketed with roofs now being quoted in the Bluffs at close to $50,000. Our peak selling months are usually February and March so lets see what happens. Expect quite a few price drops after Presidents Day week.



Bluffs Homes For Sale


I'm always available and happy to answer any questions regarding Jupiter Fl homes & condos and I highly recommend you do your own homework as well. Talk to the property managers and if your in a community talk to the local neighbors. They are a wealth of information.



Buyers, I recommend you sign up for a search of new listings with me that comes directly from our MLS system. I can fine tune to a specific area, features such as downstairs master or number of garages and views. If you are in the market drop me a quick email of your buying "wants" and I'm happy to setup a search for you.


Take notice of the 7 Florida cities. You rarely hear of them but the affordability of homes in these cities is pushing massive growth towards them.



Real Estate News


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Posted by Jim McLane on


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