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 this week in that price range. We almost had as many million dollar plus homes sell as the $600,000 to million dollar range. High end and low end seem to be the dominating force driving this market. In that $600,000 to million dollar range the sellers are usually a bit more flexible as they are not seeing as much action on their listings.

 Jupiter Condos for sale

In my travels last week showing Jupiter properties I continue to hunt for decent properties. Finding an oceanfront condo under a million is becoming a chore. If you are looking for 1,800 sq. ft or more and want direct oceanfront, the choices in Jupiter and Juno are slim at best. There are a few condos in Jupiter Ocean Grande under a million and the best unit right now is 221 Ocean Grande Blvd #508 listed at $899,000. There are a few older buildings available for sale but nothing with direct ocean views. They are in the $500,000 to $600,000 range.
There are no condos in Juno Beach at the moment that fit the criteria under a million. The least expensive condo is listed at $1,150,000 which is  a Penthouse condo in The Waterfront. This is still a 20 year old condo but shows really well and is one of the nicer ocean condos in Juno Beach.

Singer Island Condos for sale

Singer Island has  a few more options for ocean condos. There are 2 Beachfront condos built in 2007 that have ocean views listed in the $900's but the monthly condo fees are nearly $2,000 per month. The best values on Singer Island condos right now are probably the Martinique located at 4000 and 4100 Ocean Drive. Built in 1986  they offer incredible water views because each unit is an actual corner unit. They are  2,000 sq. ft and quite spacious with plenty of glass for beautiful views both day and night. They offer 2 and 3 bedroom condos.

Posted by Jim McLane on


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