Below you will find year over year Jupiter Home and condo sales as well as the beach area 33477 zip code. You will notice a very different market for single family homes versus condos. The only place where they both have similar trends is in the sales price where homes were up 8.8% and condos were up 33%. Otherwise they are tracking in opposite directions. Single family homes are selling quicker with less inventory options available. Time to contract are exactly inverse with homes and condos. Condos are showing a huge increase in inventory, up 48%, new listings are up 26% and pending sales down 20%.
Condos along Jupiter Beach
The beach area condo market zip code 33477 shows new listings and inventory up nearly double the percentage of the entire Jupiter market. The sales prices along the beach are up 33% compared to 9% for all condos in Jupiter.
My take from this is more buyers are looking at single family full time homes and present Jupiter homeowners are staying put and not selling. The condo market shows more expensive condos are selling and the lower priced condos are not moving as well. A vacation home is becoming more expensive to own and many buyers are sitting on the sidelines to see what shakes out with the required condo reserve requirements for 2025 for condos 3 stories and above.
Some of the articles below will show you why Seller's are finally reducing their prices. Nearly 25% of all listings have had price reductions which is very different from our recent market where we had bidding wars. Many condos have seen 20% reductions in asking prices in the last month or so and now buyers are dipping their toes back in the market.
The other feedback I've seen is Buyer's want move in ready places. They don't have to be decorator ready with the newest features but have some updates and be clean. When a nicely updated property does hit the market they are selling but they too need to be correctly priced as well. Inventory is up but quality inventory is still in short supply.
I'm always available and happy to answer any questions and I highly recommend you do your own homework as well. Talk to the property managers and if your in a community talk to the local neighbors. They are a wealth of information.
Single Family Homes in Jupiter
- All Listings
- $400,000 - $500,000
- $500,000 - $600,000
- $600,000 - $700,000
- $700,000 - $800,000
- $800,000 - $900,000
- $900,000 - $1,000,000
- Over $1,000,000
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Posted by Jim McLane
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