Being it is condo season I wanted to review the information from the above chart regarding beachfront condos in our area. We aren’t talking just oceanfront condos but all the beach area condos that are East of the Intracoastal Waterway. We shall look at beach communities from Singer  Island to Jupiter Island.

Jupiter Island Condos

Jupiter Island condos sit on the sand and enjoy both ocean views and Intracoastal views in many cases due to the narrow width of the Island. As you can see active listings are down to just 37 condos for sale this year versus 52 last year or a 28% drop in inventory choices. New listings are also down 38% from 18 last year to just 11 new this year. We have both less listings and less new condos coming for sale on the market. This is the sellers side of the market. Next we are going to look at the buyers side on Jupiter Island. Condos under contract are down 62% from 16 to just 6 condos. The number of sales are down 71% from 14 last year to just 4 this year. The buyers side of the transactions are down 60 to 70% while the active sellers side have listing choices that are down just 28%. Now lets look at the last piece of this equation. Average sales prices were $798,000 last year and $1.3 million this year, a jump of 69%. The sellers market is down but the buyers market is dramatically down and I would say prices are one of the major components for a slowing condo market.

Jupiter Beach Condos
All the condos on Jupiter Beach sit on the West side of A1A except for Ocean Trail. The advantages of the condos sitting on the West side is the beaches are larger and more protected. They tend to hold the sand better and renourish themselves giving you much more beach.  The negative is you have some traffic noise that may impact your condo. The story for the Jupiter Beach condos is  a bit different than Jupiter Island for a few reasons. Jupiter Beach has many non-oceanfront condos in their results.

Active inventory for sale on Jupiter Beach is very similar to last year except for the South end of the beach which shows inventory down 27%. Condos under contract are similar to last year and the numbers sold are similar. The South end of Jupiter Beach does show an increase in sold’s this year and is up 77% from 9 to 16 condos sold this year. The North end of Jupiter Beach show sales prices are down 41% from $520,000 in 2015 to $302,000 while the South end is consistent to last year at $300,000 or up just 4%. The North end has  more lower priced condo communities so we are seeing strength in the lower end market selling.

Juno Beach Condos

Juno Beach resembles a mixture in between Jupiter Island and Jupiter  with a few pockets of non-oceanfront condos which pull down the overall sales prices. Active listings remain steady at 100 condos while new listings are down 15% from last year with 45 condos. The big news is we saw a large drop in under contract condos which are down 42% from last year with just 20 units. The number of sold Juno Beach condos is down slightly from 16 to 13 this year or a 18% decrease. The average sales prices in Juno Beach were up dramatically with a 28% increase from $489,000 to $629,000. Very similar to  Jupiter Island with the rising sales prices are possible causing a slowing market.

Singer Island Condos

Singer Island condos sit directly on the sand with the Intracoastal on the West side of the island giving you great water views. Singer Island have more condos and much taller buildings than Jupiter or Juno Beach.

The Singer Island condo active listings are holding steady at 326 while new listings are down 11% at 111. The under contract listings are down 10% from last year at 53. The number of sold condos are down dramatically with just 27 condos or a 43% decrease from last year. The average sales prices are up 28% from $541,000 to $698,000.

In summary, it seems like most condo sales are down for the year compared to last year. In most cases inventory choices are remaining steady except on Jupiter Island where inventory is down 28%. It seems as sales prices are pushing higher it is effecting the number of sales. Sales are slumping in the middle to higher end market but are remaining quite strong in the lower end market.

    If you are looking to buy or sell feel free to call me and see what your home is worth today or what is available for sale here in the Jupiter area.  The most important thing you should do when buying a home is to watch the new listings each day.

Call me and I will setup a search for new listings for you.  If you see a property that interests you call me immediately. I will go over and preview the property and give you a detailed description of what the property may need including A/C age or bad sliders. The property may look great with pictures only to find out that new kitchen is just a reface and not a brand new kitchen.

Remember an As/Is contract allows you to purchase a property with a 10 day inspection period. During that inspection period you may cancel the contract at anytime without a penalty. This should give you enough time to fly down  and see the property without the fear of losing the property. Imagine flying down to make an offer only to find out the condo has been sold. Call us to show you oceanfront condos here along the East Coast of Florida.