Jupiter Yacht Club unit hits market
Premier waterfront Jupiter location is hard to beat
Anybody who has been watching the Jupiter real estate market knows 2015 has been remarkable. The best properties, in the best locations, tend to sell quickly, at premium prices. The location of The Pointe building does not get any better. Direct waterfront condos are a rare bird in Jupiter, throw in a world class protected marina and it gets even better. Walkability has become one of the most important factors for all buyers. From The Pointe you can easily walk to the beach, Food Shack, The Woods. You get it, life is good at The Pointe at Jupiter Yacht Club.
So, when a 3 bedroom, 3 1/2 bath corner unit with direct intracoastal views and 2,608 square feet hits the market I take notice. I know the last corner unit in the building with this square footage sold for $517 per foot. This property just hit the market late yesterday at $420 per foot. Sure, that sold unit was 40' higher and a different view, but we are talking a list price here that is at a 19% discount to that sale. That is a 4.75% bump for each floor. Home inventory in Jupiter and the surrounding communities is down almost 21% since the first of the year. Median condo prices in the area are up about 13.5% over the same period. This premiere Pointe property hits the market at a price that is very compelling.
The home has some history, as for much of the time since September 2012 it has been on the market. It was for sale as a traditional sale, a short sale and finally as a foreclosure and the buyer timed it perfectly as they paid $800,000 in January. Just a couple months earlier the same floor plan, the same stack, one floor above sold for $1,040,000. Condition, in my opinion, was not a huge factor.
So, the seller picked it up at a bargain price at least partially because of a "foreclosure" stigma and now decides to sell. Low inventory. The only unit on the market in The Point. Walkability plus. High demand with a record breaking season just weeks away. A compelling list price. Sure sounds like a recipe for a quick sale. If you, or anyone you know, might be interested please reach out to me and we will get you in the fray.