Jupiter Fl Real Estate – Florida’s housing market
Jupiter Fl Real Estate
What’s happening in the Jupiter FL real estate market and the Florida housing market as well. Many counties here in the area including Palm Beach, Martin and St. Lucie County hit record median home prices again. Even though sales were down which can be attributed to low inventory prices continue to climb here in the area. In Palm Beach County the median single family home price reached $355,000 up from $345,000 a year ago but still below the post crash high of $417,000. Jupiter home prices are nearly $200,000 more than median home prices in Palm Beach County at $514,000 up 8.2% from last year. Average sales prices are even higher at $721,687 up 18% above last year. New listings are down as is months of inventory. Buyers are staying put and are only moving if they are moving out of state or moving to Jupiter from somewhere else. Homeowners aren’t upgrading or downsizing but are staying put. The single family home market in Jupiter is stronger than ever and demand continues to rise with limited inventory choices.
Jupiter Fl real estate
The Jupiter condo market which include townhouses is up even higher than last year. We have seen a 23% rise in median prices over last year. Many of those condo buyers who purchased at the peak in 2006 are getting close to finally breaking even on their purchase and are deciding to put their properties on the market. We saw a$330,000 median condo price which is nearly the median price of a single family home in Palm Beach County. Basically if you want to live in Jupiter your going to be living in a condo or townhouse instead of a single family home. New listings are up for the condo market as well. More investors have owned condos and they are seeing dramatic price increases so they are finally thinking about selling. Single family homes are not affordable in Jupiter which has put a huge demand for lower priced condos causing this increased pricing. Our Jupiter Fl real estate market continues to be robust.
