Jupiter single family home prices move higher in February
The median single family home price in the Northern Palm Beaches was up in February for the 5th straight monthly increase. The median home price on March 1st was $485,000, up from $481,000 the month before. Year over year prices, show an annual gain of 5.4% but we still lag behind the all time record high price of $500,000 set back on June 1st of last year.
Affordability remains a key problem for the market but interest rates have been trending lower which is helpful.
The number of homes that closed during the month of February was up by 14.8% over January numbers but lagged 2018 numbers by 18.5%. We are still seeing the ultra luxury home market carry this market on its shoulders with sales of $1,000,000+ homes setting record highs in both January and March.
The local real estate market remans very interesting with demand for updated properties in some neighborhood selling for record prices while a multitude of resale homes in poor condition are having difficulties finding buyers.
Seasonal home buying will remain strong for at least 2 more months but right now that strength is not looking to be quite as strong as we would like to see. If the value of your home is of interest, and Paradise Sharks can be help in nay way, please give us a call at 561.308.0175. We can also be reached via e-mail at firstname.lastname@example.org Our boutique brokerage is small enough to care and large enough to perform at prices many brokerages can only dream about.