Jupiter Real Estate  

Our Jupiter real estate market continues to show strength with just under 200 sales during the first two weeks of June. Almost anywhere along the beach from Boca Raton to Hutchinson Island I'm seeing a very limited supply of condos and homes for sale. I remember the days when I could show a buyer 12 or more properties that fit their criteria. Today I struggle to find just a hand full of properties to show them. I was up on Hutchinson Island last week and found limited choices there as well. One of the best deals I saw was in Island Village just across the street from the beach. They had  two - 2bd/1.5ba townhomes listed under $150,000. They needed an update but I thought they were well price to walk across the street to the ocean. Prices up their have climbed just as rapidly as here in Palm Beach County but still remain much lower than Palm Beach County. 


I continue to look and show properties in the different areas we cover including Boca Raton condos right to Hutchinson Island condos and I educate buyers to what else is available.In between you will find Singer Island condos and the Jupiter condos.  For example I had a customer wanting a waterfront property that allowed big dogs under $400,000 here in Jupiter. We had nothing here in the Jupiter area but the Moorings in Lantana offered what he needed. Knowing not only your primary market but your surrounding areas only makes me a better agent. I can guide you to other areas for options you may not find in a specific town.  


I've been reading many interesting articles about the Jupiter real estate market and almost all metro areas are seeing the same problems. Limited inventory choices and rising prices. Even rental prices continue to reach historical levels with 1 bedroom condos demanding nearly $1,300/month and most two bedroom condos are nearing the $2,000 per month price. Even going North rentals are quite difficult to find and prices are really not much less.

Below I attached a link to our Jupiter mls showing the Jupiter year over year activity report. You will see active listings are declining, meaning less choices for buyers while new listings coming to market are falling as well. Our absorption rate continues to fall meaning the supply of available homes is dropping. Our Jupiter median sales price is up just over 3% from last year at $343,000 while our average sales price has remained stable at $449,000 both well above the Florida national average. Listing prices are artificially high as sellers see very little competition among similar properties. Take a look at the Jupiter link below. See why the Jupiter real estate market is making buying Jupiter homes and Jupiter beach condos difficult. This is the time where you need a real estate expert to help you locate that perfect property. 

Posted by Jim McLane on


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