Jupiter Real Estate

     Home sales have finally slowed down after weeks of strong  sales here in the Jupiter area. We saw  40  homes close last week as we enter our off season. Finally a little rest before season starts again. Does this mean a slowing down in the market? Not at all,  I continue to see strong showings on my listings and other properties I have shown seem to be getting alot of traffic through them as well. The Jupiter inventory levels continue to be slim and new listings are being offered at higher numbers. With limited competition in many communities sellers are controlling the market. Forget what the properties sold for last year because if you are trying to buy at last years prices you will be watching them go up with each new sale. Believe me the prices aren't going down anytime soon.

                                                 Jupiter Home Sales Push Upwards

Even with the big jump in prices this year many communities are still way below the peak pre- bubble prices. For example the Oceanside Terrace townhome listed above sold at a high of $315,000 in 2006 so we are still far below those prices and demand is as strong as 2006. 

The 1 bedroom Searise in JORC that had been in my 10 best homes sold for $300,000 plus in 2006, not updated like this unit which is listed at $195,000. There is still plenty of upward appreciation available even buying today. Even  on the low end we can still see 25% appreciation and 50% if we reach the 2006 numbers.                                                                                                         

Just for a comparison sake the least expensive 3 bedroom ocean condo in the Jupiter area that has a true ocean view is listed at $649,000. So what does $649,000 buy you today? It buys you a 3 bedroom,  original condition condo built in 1972.   


I  looked at a new listing in Hutchinson Island and saw a 3bd oceanfront condo listed for $679,000. Granted it was built in 2003 but the last sale in that building was in the mid $400,000's. Even Singer Island prices have jumped with the least expensive 3bd there starting at $575,000 in a 1982 building. The least expensive condo built in Singer Island built after 2000 is listed at $1,150,000.


So what are some other options to consider if you want water views and your budget isn't $500,000 plus. You may want to look at Intracoastal views where you can probably knock some money off that ocean view price tag and still enjoy water views.

Today I showed a condo in Old Port Cove in the Quay South building. For under $300,000 you get a beautiful panoramic Intracoastal and ocean view from your condo. The condo needed  some updating but the views were spectacular. Even the older communities such as Broadview and Sandpointe Bay in Tequesta are above $300,000 for Intracoastal views. The really amazing views are becoming more difficult to find at almost any price. Waterfront properties are hotter than ever.



New Jupiter Construction Projects


I  saw a new condo in Highland Beach at 3200 S Ocean Blvd coming to market. It sits on the Intracoastal and the least expensive unit is $1.25 million for 1,900 sq. ft and the next condo is listed at $1.8 million for a larger unit. It features 10ft ceilings and will be beautiful. New construction doesn't come cheap.


Bay Colony in Juno Beach continues to sell as fast as they can build the condos. They have only 3 condos under $400,000 left and by the time you put your upgrades in you will be nearing the $400,000 price tag. The least expensive water view is listed at $599,000.


The Preserve in Juno Beach, just West of US 1 are listed at $1.3 million for 3,700 sq. ft . New construction in Juno Beach and a 15 minute walk to the beach.


Tierra Del Sol in Jupiter is working on phase two with many new improvements over the earlier phase.  They have opened up the kitchen into the living space and added some additional features. Starting price for the townhomes are $810,000 for 3,400 sq. ft and a  15 minute walk to the beach.


                                           NEW Jupiter Listings Coming!

We do have a few new properties coming to market soon. A Sea Colony home as well as a country club community home. Will keep you informed once we have photos and will send them out to you first.


Sellers it is a great time to sell your Jupiter home or condo. With inventory levels so low you may want to see what your home is really worth. Find your community on our website and you can see the recent sales over the past year as well as what is for sale now. To sell a home you need exposure on the Internet and we have some of the top ranking sites on-line. Sure advertising in the paper works but almost anyone you speak with says just Google it. Google Jupiter condos and visit me. You will get some of the best Internet exposure on our websites.

Posted by Jim McLane on


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