Everyone wants to live in Tequesta as home sales jump 46%
Last year, the real estate market in the Village of Tequesta led the way for all the municipalities in the Northern Palm Beaches. In 2019, median single family home prices in the Village jumped 16% to $550,000. Compare that to Jupiter, where last year median single family home prices were only up 2% to $520,000. It seemed like everyone wanted to live in Tequesta and that demand drove prices to the highest levels in the region.
It’s still early in the year, but easy to see that so far the demand for the perfect home in Tequesta is growing faster than the Coronavirus. Pending home sales in the Village are up 46% compared to last year at this time. On it’s own, that is a pretty fantastic number but when you look at the number of homes buyers have to choose from you realize just how extraordinary demand for Tequesta real estate truly is. Inventory levels in Tequesta are down 27% from year ago numbers.
Stunning to look at a market where sales are up 46% with supply down 27%. It’s the small seaside village, away from the hustle and bustle of South Florida that has families scrambling to find a home. It’s the great Jupiter school system where young families want their children to learn. It’s the miles of waterfront property that attracts those running from northern states that were taxing them to death. It’s a community that can’t grow and opportunities to find the perfect home are few.
Sellers are in control and anyone looking to sell a home should not only be expecting to get top dollar but also to find exceptional value from the real estate industry. Paradise Sharks charges a maximum 4% total commission for our neighbors in Tequesta. Remember those days when Realtors demanded 6%. Well, those days are over. Shop around, ask lots of questions and get informed. It will save you a lot of money and help ensure you also get world class service.
Realtors are contacting homeowners in Tequesta out of the blue to see if they would consider selling. Paradise Sharks has a stunning pocket listing that we will be putting on the market in April, If you want to beat the crowd, and are looking in the $800,000 to $900,000 range, need 4 bedrooms, three baths and a pool you might give us a ring. There just is not much out there and it’s not bound to get better anytime soon.
Interest rates dipped again this week to the lowest levels we have seen in over 170 weeks. Yesterday a fixed 30 year conforming mortgage was priced 18% lower than one year ago. If you are borrowing money you can afford more with such favorable rates and in Tequesta you are going to need that advantage. You also might consider calling Paradise Sharks if you are buying a home as most of our buyers get a substantial credit at closing as our way of saying thank you. Those credits can start as low at $700 for a one bedroom condo at Riverbend and climb all the way up to $80,000 for a custom waterfront residence in Coconut Cove. The crazy thing is you do not even have to ask for the credit, we just give it to you.
In a town where the median single family home price is $550,000 it’s easy to give back and if you want more details contact Paradise Sharks anytime for a complimentary consultation. We are super easy to reach at email@example.com or 561.308.0175.