Jupiter Real Estate Home Sales

                                Jupiter Real Estate Market Report

It seems March may be the busiest month so far this season. WE broke the 100 homes sales mark this week and everyone I speak to from mortgage brokers to property inspectors are slammed.  I guess the weather up North has eased up some and buyers are finally getting down here much later than usual to shop for homes. All winter long the weather was causing flight cancellations which kept many buyers from getting down to Florida. I've noticed  I'm hearing from customers that have been looking for years and are now ready to buy after two horrible winters and owners are using their places for season instead of renting them out.

Several of the new communities are almost built out…

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Jupiter Home Sales Report

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…

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Jupiter Real Estate Sales Report

Jupiter Market Report

It seems this may be the busiest month coming up as the phone has been ringing off the hook. I guess the weather up North is easing slightly and buyers can fly down and not worry about flights being cancelled. The other strange thing I've noticed is I'm hearing from customers that have been looking for years and are now ready to buy.

Several of the new communities are almost built out such as Rialto and Windsor Walk, the last two affordable new home communities in Jupiter. New townhouses in most areas are fast approaching the $500,000 mark and single family homes are starting at $750,000 with most being a million dollars. Jupiter and Juno Beach is soon becoming the million dollar market for new construction.

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Selling your Jupiter Home

Thinking of Selling your Jupiter home?

The 2014 real estate market report will be broken down into home sales and condo/townhouses so you can see what's happening in each particular market. Each market attracts different buyers and it will reflect differently in market conditions.

The single family home market in Jupiter is out of the reach of many first time home buyers so they look to purtchase condos as an alternative housing choice. Cash investors are also a dominant force in that entry level condo market as well. Two reasons: First they are paying cash. The rental rates based on sales price allow a decent return on their investment and the appreciation potential is strong. Many  have seen nearly a 100% appreciation since 2011. This is one…

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What's Happening in the Jupiter Real Estate Market

Jupiter Homes & Condos for sale

The Bluffs home above was listed a day or so ago and it quickly caught my attention so I decided to feature it this week in my Jupiter Report. The Bluffs single family homes have been one of the hottest beach area communities recently and is an exceptional value. One of the reasons is many of the other homes near the beach are multi story and buyers are looking at one level homes as they near retirement age. The Bluffs offer CBS construction, vaulted ceilings and an open floor plan with nearly 2,000 sq. ft of living space and a 2 car garage. The proximity to the beach and how the community is maintained make it a popular beach community. They also have one of the largest community pools along the beach.

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Jupiter Real Estate Market Report

The last week of home sales in 2014 finished on an uptick. We continued to show  a strong surge in the sub $200,000 and $300,000 market. We saw many small condos and homes sell as both investors and buyers hurried to close before the year end for tax purposes and homestead. This weeks front page headline in the Palm Beach Post read "Region's home prices rise again", South Florida was the rare U.S. market that saw price increases in October. South Florida led the nation for home price gains for the third consecutive month.

They are no longer expecting double digit price increases but with continued high demand and low inventory we should see 3-5% rise in prices this year. We still have available cheap money as well as a large percentage of…

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Jupiter Real Estate Market Report

The last week of home sales in 2014 finished on an uptick. We continued to show  a strong surge in the sub $200,000 and $300,000 market. We saw many small condos and homes sell as both investors and buyers hurried to close before the year end for tax purposes and homestead. This weeks front page headline in the Palm Beach Post read "Region's home prices rise again", South Florida was the rare U.S. market that saw price increases in October. South Florida led the nation for home price gains for the third consecutive month.

They are no longer expecting double digit price increases but with continued high demand and low inventory we should see 3-5% rise in prices this year. We still have available cheap money as well as a large percentage of…

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Jupiter Real Estate Market Report

What's happening in the Jupiter Real Estate Market

The sub $300,000 Jupiter real estate market continues to see homes selling very close to their asking list prices. Most of the homes are selling at 97% or higher of asking price and about $200 per sq. ft at the low end. We did see a big jump in lower priced homes selling this week. 35% of the homes selling were priced under $300,000. The sub $300,000 market is by far the strongest market here in Jupiter and the surrounding areas. Entry level condos are nearly all above $200,000 and most homes under $300,000 are selling rather quickly. The days on market (DOM) are short and many are buyers are cash.
Again the weakest market continues to be the $600,000 to million dollar market with just 7 homes selling…

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Jupiter Real Estate Home Report

Jupiter Real Estate Market

Home sales continue to remain strong for the last week of November with 54 Jupiter homes closing. I want everyone to pay attention to the listing price and the selling prices. See how close many homes are selling to their asking prices. Many Jupiter homes are selling at just a few points off list price and on average most selling for 95 -97% of their list price.

I also noticed quite a few bank properties (REO) selling this week as we get close to the year end. I would say about 75% sold above asking price and 25% below asking price. With bank properties there are many factors involved. Sometimes the buyer pays a 5% premium above the sales price on certain bank owned properties. We are seeing more bank properties selling…

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Jupiter Real Estate Sales Report

Jupiter Homes for Sale

Home sales saw a huge surge this week with 50 Jupiter homes closing here in the second week of November. This is a strong showing for our off season even with our limited inventory. This week we saw just 4 homes sell for under $200,000, a rare commodity here in our area. We also saw 11 homes sell between $200,000 and $300,000. More than 50% of home sales this week were over $350,000. 

The least expensive oceanfront condo sold for $362,500 or just over $300/sq.ft. This would be a 1980's original condition condo that needs updating. The other end of the spectrum we saw a Ritz Carlton Singer Island condo sell for $600/sq. ft. This unit had a city view and no ocean view.   

The choices of luxury condos is slim…

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