Selling Your Jupiter Home

As we enter the first month of 2015 we see the condo/townhouse market continue to show strong growth over last year with prices up 10.6% and days on market dropping 7.4%. Supply of Jupiter beach properties is up nearly 10% with a sudden spike for January 2015. This can be expected as this is our prime selling season so everyone that wants to sell will list in January. What the chart above does not show, the new listings higher asking prices which continually rise at a much greater rate then 10%. There are a limited number of prime properties  out there that have great locations, beautiful views and show really well. The choices are still relatively slim in the desirable neighborhoods. In many desirable communities we are seeing one property for sale in a 100 unit condo building. Many communities have no listings for sale which sounds really bizarre.

What do I see for the condo/townhouse market in 2015?

 Increased upward pressure on Jupiter oceanfront condo prices caused by a huge buyer demand, especially along the coast. Cheap money and lots of cash buyers. I'm thinking we should still see a 10% to 15% rise in condo prices near the beach for 2015, especially the under $300,000 market and the over 1 million dollar market. Lack of available products in both segments of the market will cause escalating prices.

Along the beach the $200,000 condo is long gone and many of them are pushing $250,000 and I'm expecting them to reach $300,000 by next season. In fact some of the remodeled condos are reaching that $300,000 mark now. We aren't talking oceanfront condos but the typical 5-10 minute walk to the beach 1,200 sq. ft condo.  

                      Jupiter Single Family Homes 

The single family home market shows a bit different picture. The median sales prices are staying flat with a large rise in available inventory for single family homes. Both Jupiter home sales and prices did rise dramatically over the past year. More single family home buyers are local buyers and not snowbirds looking for a second home or a retirement home who are paying cash. I feel that is one reason for home prices stabilizing. Incomes are still trailing home prices here in South Florida. We could see single family home prices continue to jump as the new developments finish selling out here in Jupiter.

What can we expect in 2015? A small rise in home prices even in the most desirable areas. Continued increase in new home listings. Demand is still strong and should remain as long as interest rates remain stable.

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• Jupiter Real Estate (44)
• Jupiter homes for sale (23)
• Jupiter beach condos (15)