Million dollar Jupiter home sales break 12 year old record
The number of properties that sold for over $1M through the real estate community in the Northern Palm Beaches continues to climb. We have to go all the way back to 2009 to find a year where this very important market indicator declined. Each year, since then, the number of these premier properties sold in the Jupiter area has moved higher. Eight straight annual increases.
Last year, the number of million dollar sales jumped 10.7%. Just as impressive was breaking the record that has stood since 2005 by over 9%. It was a most impressive year of big dollar home sales in the Jupiter area.
The rise has been rather dramatic, from 171 homes in 2009 to 444 that closed last year. A home that closes for a price above $1,000,000 is a daily occurrence in the Jupiter area. Keep in mind, many of these homes sell for far greater sums than a million dollars. Last year, the record sale weighed in at $28,000,000. Of course, that was for Celine Dion’s well publicized home on Jupiter Island that she was originally asking $72.5 million. You might say at $28 million was a bargain, but that is another story.
2018 is starting off well as January is always a big month for closings in this price range. With the stock market climbing, unemployment nearing record lows and the economy growing it looks like it is going to be a another great year for expensive real estate in Jupiter.