Jupiter real estate market remains highly competitive
The real estate market, and the industry itself, is constantly changing. Both buyers, and sellers, need to be teamed with a professional broker in order to make the best decisions. With the median sale price of a Jupiter single family home sitting at $470,000 so far this year, a little mistake can cost you big money. Don’t be afraid about asking tor a life preserver, insist upon it.
We are marching towards the best months for Jupiter real estate sales, and those throughout the Northern Palm Beaches. The “real” buying typically starts off in about 8 weeks. Everything between now and then is setting the foundation for the game ahead. For the month ending November 15th, pending home sales are up after dropping sharply over the previous 6 months. Sounds like great news, but when you peel back the layers you see they have actually fallen almost 4% since November 1st. Pending home sales in the Jupiter area are down over 10% from where we were one year ago.
Inventory remains a critical issue with few quality homes hitting the market. When a well priced property in good condition, hits the market, buyers swarm like a colony of honeybees. Highly competitive is the word for quality median priced homes in this market. Over the past 30 days, the number of homes actively on the market in the Northern Palm Beaches is up over 6%. Good news indeed, but still not a great deal of “turnkey” properties hitting the market. Buyers need a winning game plan and be prepared to act quickly when good homes matching their needs are listed. They need to be the first in the door or they are going to get beat out. Their broker needs to be able to make that happen. In a competition, the winner needs to know how the game is played and the numbers effecting each property. It’s why Paradise Sharks spends so much time researching the market. We want our clients to understand it when making decisions. It is critical.
Median prices for condominiums in the Jupiter area remain in a consolidating pattern while there has been downward pressure on the median single family home price. With a shortage of quality homes, many buyers have to settle. Interest rates remain fantastic and there is good stuff hitting the market, you just need to be patient and well prepared with a game plan that allows you to win the game. Don’t settle.
If you need a life preserver in today’s challenging market please feel free to contact Paradise Sharks anytime. We are easy to reach at email@example.com or 561.308.0175. We have been playing this game for decades and know how it’s played. We want you to win.