Jupiter Home Sales Report

 Welcome to our Newsletter   

This week we saw  Jupiter home sales  inch up a bit from 45 just last week to 51 homes selling this week here in Jupiter. Deals are getting tougher to negotiate as sellers are drawing the line in the sand and making the buyers cross that line. More than 50% of offers are being rejected by sellers. I can't blame them, as economics 101 is basic supply and demand. Buyers next year  are going to say I should have bought last year just like the buyers are saying this year. New home builders can't build fast enough and the prices of new homes are approaching $200 per sq. ft. Abacoa townhomes are nearly $180 a sq. ft. Yes for a townhome. Inflation and surging fuel prices are going to drive up the cost of building a new home.

I don't know if many of you remember the lakefront home in Juno Beach which was on my 10 best list almost 9 months ago. Well someone bought it and paid $530,000. They proceeded to tear the house down. This will be a million  dollar home by the time they put a house on it. Yes, a  $ 530,000 lot and it's not on deep water.  I had HGTV email me last week looking to do a segment on beach homes in the area and what you could get for $600,000. I politely replied a two car gargage and maybe a house attached to it. I don't know what they were expecting but after I emailed them what $600,000 would buy, I did not hear back from them. I guess a 2 bd 2 bath home built in the 60's wouldn't excite many viewers. That was all I could find walking distance to the beach in Juno. 


           Palm Beach County Home Sales gain in Price & Volume    

The trend continues with home sales in January up 41.4% from last year and prices up 12.7%. Foreclosures are down 36.8% with prices on foreclosures up 17%. Short sales were down 8.3% with prices on short sales down 3.3%. Remember I have been saying forget foreclosures go with the short sales as they are the true bargains out there. I continue to emphasis the lowered inventory levels are pushing excessive pressure on upward pricing in many market segments. I truley can not find enough homes to sell right now.

Posted by Jim McLane on


Email Send a link to post via Email

Leave A Comment

e.g. yourwebsitename.com
Please note that your email address is kept private upon posting.