Jupiter waterfront homes
Jupiter Fl Home Sales
Welcome to our Newsletter
This week we saw Jupiter home sales rise dramatically for the week. We saw 75 homes sell versus 51 homes selling last week. I continue to see strong demand for nice homes. This morning I listed a 3 Bd 2/ Ba with 2 Car garage home. 1,800 sq. ft under air and shows beautifully. I have had 6 calls today to show this home. I expect this home to be sold in less then two weeks. Great home and listed at $249,000. Jupiter waterfront homes remain very strong and I expect to see continued strength in that market.
If you haven't visited my www.Jupiter1oceanfront site we now have the newest listings on the home page updated each day. Take a quick look and see the new properties just listed for sale.
Jupiter Florida waterfront Properties for Sale
I refer to past sales in many communities and here is a perfect example regarding bank owned foreclosures. In Sea Brook the bank just listed a foreclosure for $204,000. It is a gut job and needs a complete remodel. There was just a regular sale closing for $189,000 last month. It need some work also. Is the bank blowing out their properties? Not at all. They are watching inventory levels continue to fall and are pricing their properties at regular market prices or higher. It may take them a month or two longer to sell it but they are getting good money out of them, especially considering the condition of the home. Waterfront properties in Jupiter are still commanding record prices as the market continues to stall.
I continue to see the weakest market being condos in the $300,000 to $600,000 market. Under $300,000, they are quite strong in most cases. The oceanfront condo market in many communities is still a bit slow for older condos. Larger luxury condos are moving very well. In fact I just saw two Resort at Singer Island oceanfront condos close this week at over 1 million. The Ritz Carlton on Singer Island is very strong and they are 2 million plus. Both Waterfronts in Juno Beach are still available in the $750,000 range. Great price on the condos but many people feel they are to small at 1,800 sq. ft. Yet I can sell a million dollar plus condo more easily because more people are looking for larger condos above 2,500 sq. ft.
I think many buyers are looking for a much longer time period now and are becoming frustrated about the limited choices they have when looking for real estate. This goes for rentals as well. When you go through the sold properties you will notice many are on the market only a short time before going under contract. Of the properties that went contingent or under contract in the last 3 days, 16 of 39 were on the market for less than 28 days and 11 for less than 10 days. Nearly a third went under contract in less than 10 days. In the same time period 48 new homes came on the market and only 8 were under $200,000. Far less than in the past. There are some communities that are stagnant and others that are on fire and I can't give an explanation or reason why. All I can say is the good well maintained properties are selling rapidly.
Palm Beach Post continues to track the real estate market with another article this week. Take a moment and read this article.
Click link below to read.
Higher Seller confidence leads to higher home prices
Buyers it is important 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.
Sunday March 17thwill be open house weekend in Juno Beach. This only happens twice per year so come out and visit the oceanfront condos and homes in Juno Beach. I will be at 900 Ocean Dr # 403 from 12-4 pm that day. Stop in and say hello.
Posted by Jim McLane on
Leave A Comment