Jupiter Real Estate Report September 2014

South Florida rose to the top of the nation’s leading home price index in August, with gains of 10.5 percent from the same time last year even as home market momentum slows.

The increase in the tri-county region of Palm Beach, Broward and Miami-Dade counties put the area in first place nationally for price growth, according to the Standard & Poor’s/Case-Shiller index.

  This is an article from the Palm Beach Post and is pretty  self explanatory. We are #1 in the entire country for rising prices.  You will notice this in the recent sales for the week as well as price changes, new listings and contingent listings. 

This week's new listings has just one listing under $200,000 and just a few properties listed under $250,000.  The least expensive single family home is listed at $289,000. This buys you a frame/stucco house built in 1989 with 1,560 sq. ft under air. Just around $185 per sq. ft.

The least expensive oceanfront condo listed this week is $299,700 on Singer Island with an "exceptional parking lot view". Yes, a parking lot view and it stills needs to be updated from 1980 decor.

Looking at all the price change listings as well as contingent listings and you will see just a few properties under the $200,000 benchmark. The $200,000 property is soon becoming extinct here in the Jupiter area.

                                                                                                                            Home sales continue to move at  a slowing pace after weeks of strong  home sales here in the Jupiter area. We saw  34 homes close last week, just a few shy of the 37 from the week before. I am seeing quite a few showings but buyers are very disenchanted and their expectations are high. 

This week I had a customer come up from Hallandale Beach and he has been looking at places here by the beach on line. He called and was excited about coming up to Jupiter to see the properties  he saw on my website. He has been looking at different areas for nearly two years and was ready to move. I met him at our office in the Jupiter Yacht Club next to the Dive Bar.  He got to the office and said" it is beautiful here, I love it,  I want to move here." Great! Just what I like to hear.

He had told me he has a $300,000 budget and I had setup some showings at properties he had asked about and some I thought may interest him.  We jump in my car and we go out looking at places near the beach within his $300,000 budget. Well, they were some of the fastest showings I ever had. He walked in and walked out almost immediately on most of the properties he had asked to see.

He said his condo in Hallandale has a water view and is a few blocks to the ocean and they sell for about $300,000. Well after showing him everything in his budget here in Jupiter he said" I would have to spend $450,000 to get anything even close to what I have in Hallandale."

He was quite disappointed with what $300,000 bought him here near the beach in Jupiter. We got back to the office and he thanked me for my time and said "I can't move here." I can't get what I have in Hallandale here even though I hate living in Hallandale Beach.

When looking on line I highly recommend you drive to some of the places before meeting with your Realtor and seeing the different neighborhoods. On line shows you the house but not the community and it will make your trip more productive. It will also  save you alot of time looking at properties in neighborhoods you just don't like. It will also give us  a better idea of what your tastes are and we may have some other neighborhoods that may work for you that you have not seen. It makes our time together more productive.                                                                           

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 I'm starting to bring buyers to Martin and St. Lucie County to look for direct oceanfront condos because both price and availability here in the Juno area continue to make finding properties very difficult.  Communities like Ocean Village on Hutchinson Island may offer you what you really want in a beachfront property even though you will be  a bit further from the airport and may not have everything Jupiter has but you really get what you want.

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