Jupiter Condos &Homes & Jupiter Real Estate Blog

This week we saw Jupiter home sales  fall from a record setting 86 last week to just 28 this week. We saw this same thing a few weeks ago where we had 70 plus homes sell one week and 20 plus homes sell the following week. Again the two weeks end up averaging just under 60 homes.  These are still very strong numbers for December and other parts of the country. I speak to agents around the country and I tell them the average number of homes selling here in Jupiter each week and they can't believe how busy it is here. I ask the agents who is moving to NJ, CT, IL or anywhere in the North. People are flocking South. They may not be coming all the way to Florida but they are going to places like South Carolina, Georgia and even Northern Florida.  All the retirees and soon to be retirees are buying now when money is cheap and there are still some reasonably priced properties. Every buyer is complaining about their property taxes up North, the cost to heat their homes and how badly the market is up there. There are pockets that are doing well but overall look at where the population is moving. Drive to Orlando and look at the traffic and congestion as well as how much it has  built up. People are moving there because it is cheap to live there.  

Everything is going up, fuel, raw materials, labor and builders are cutting back on the standard features. You are seeing long option sheets. Everything is extra, they are giving you S/S appliances and granite but they have become the norm now. You are getting lots of carpet, inexpensive tile and all the items you want are now extra. They are keeping the base models as low as possible and making the money on the options you chose. At the end of the day anything new in the Jupiter area is $450,000 to $500,000 for a home or $200 per sq. ft. Buying a new home will do one thing, save you on insurance which continues to climb. The average insurance policy on $500,000 home is going to run you $3,500 per year while on an older home you are probably in the high $4,000 range or higher depending upon wind credits. On the other side of the coin the new home will have  the non-ad-valor-em tax which covers your new infrastructure and that will run $1,000 per year. In the end they all end up costing the same. The new home does give you the "I don't have to touch it" which many people don't want to do now. Remodels are becoming more expensive an finding good contractors can be difficult.   

Today I saw a Jupiter One townhome come on the market and I called the agent to show it. Sold already. There are no other units in there for sale. Original condition, needs updating and priced at $210,000.  

Good news for buyers, season is here and we should start to see many new listings come to market in the next few weeks. The bad news is many sellers are fixated on their prices and are not looking to be very flexible. I had an agent from Boca call me today saying she has had a listing for 4 months and not a showing. She called because I sell alot of condos and know the market well. It is a 2,000 sq. ft condo that was remodeled a few years ago but the building is a 1970's building that sits on the Intracoastal in Boca. No view unless you call a parking lot  a view and they are asking $750,000. I told her it was not worth more than $500,000 and probably not even that so the seller will not sell it and will stay there for a long time. But the seller has it in their minds that it is worth that amount of money.  

I hope everyone looked at the Ocean Royale condo link above and saw how beautiful the condo building is and the spectacular views it offers. It is always a well selling condo with some very nice amenities and has a beautiful lobby with doormen in both buildings. It allows pets to 35lbs and has reasonable condo fees for an oceanfront condo. The condo floorplans are well designed and quite spacious with private elevators to your condo. Take a look at Ocean Royale in Juno Beach.   

Buyers who are looking to purchase need to get signed up to receive new listings as they come to market. Not only do you have to do some research by looking on-line, use any of my websites for your daily searches. It will save your searches and email you new listings as they come to market. Don't be afraid to call or contact me for questions about specific Jupiter condos or homes or if you aren't seeing exactly what you want.  

 Jupiter Waterfront homes

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