Jupiter Yacht Club Condos for sale
Jupiter Yacht Club has just 5 active listings with 6 condos under contract awaiting closing. Four of the five are listed at over 1 million and the highest asking price is $1,969,000. Of the 8 sales over the last year 5 have been over a million. I went back to 2006 to see what the average condo sold for in the Yacht Club. I picked a Penthouse non corner unit which sold for $1,225,000. With today’s selling prices you can see we are rapidly approaching the peak we reached at the high market times. In fact in a few corner units we are seeing prices at the peak 2006 prices.  They just sold a Penthouse Jupiter Yacht Club corner for the same sales price as 2006. How will future prices be affected in the next few years? We should see a cooling off period unless of course buyer demand, low inventory levels or inflation continue to put upward pressure on home prices. Remember historically home prices rise on average of 3-5% per year and we have seen a 20% price rise over the past year. Sellers price your properties in line with recent sales and get some excitement on the property. Don’t let your listing stay active for an extended period of time and become stigmatized. In this fast moving market buyers question why properties are sitting for an extended length of time. Buyers watch the market carefully and a bargain is not always a bargain when buying a condo. People buy condos for the view so thinking you are getting a great deal on a low floor may not seem to be a great deal when you go to sell and the market is soft. Buy the best view you can afford otherwise you might as well live in a home with no view. I see hundreds of condos each year when showing properties and the hardest units to sell no matter what the price is will be units with partial views. If you want to see other oceanfront condos in Jupiter call me.
Posted by Jim McLane on
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