Jupiter Homes for Sale

Jupiter Real Estate Market Reports


I went back a year ago to my September 2022 newsletter to see what the market conditions were. I was surprised inventory was up 10% in our mls yet inventory here in Jupiter has dropped 37%. The entire MLS inventory has just 30,000 homes for sale which runs from Miami to Vero Beach.


Jupiter single family home prices have actually risen over last year which shows the desirability of the community. Days on market has slightly increased and we see homes selling quickly when priced correctly. Educated buyers are constantly reviewing the market and they know a properly priced home when they see it.


The Jupiter condo/townhouse market shows a little different scenario. Remember more condos are second homes than single family homes so when carrying costs rise it does influence sellers to part with their properties. You see inventory choices are up in the condo market and median prices are up while average prices are down. The lower end condo market still has a limited inventory which is pushing prices up slightly but not as much as Jupiter single family homes. Demand for entry level condos continues to stabilize prices. Jupiter Oceanfront Condos show a strong demand due to limited inventory choices.

                            Jupiter Homes for Sale


Other areas aren't showing the resiliency of Jupiter. For example the number of condos on Hutchinson Island is dramatically up and the time on market is much longer. Definitely due to more of a vacation area and second homes than Jupiter. It is not quite as desirable yet it is still a beautiful area.Demand for Jupiter homes for sale continue to show limited inventory choices and strong demand.


Home insurance continues to be one of the biggest issues we face here in Florida as almost every policy has risen 25 to 50%. A recent insurance bill I saw had an annual premium of $9,000 for the year. It's very important to get an insurance quote when buying a home to avoid any surprises at closing.


What can we expect as we approach 2024? Population explosion, changing migration patterns to Sunshine and low tax states is putting pressure on home prices. Builders are building rental apartments as quickly as they can but those rents are not any more affordable than present rents. Demand for a place to live continues to stabilize the present market and while we have seen home prices soften many were just ridiculously overpriced compared to actual selling prices. The market has slowed, but low inventory and the lack of good inventory continues to be a factor buyers have to continue to wrap their heads around. Patience is a priority in this market and sometimes it may take you much longer to find the right home than you anticipated.


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.


Posted by Jim McLane on


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