Jupiter Homes for Sale- Jupiter Real Estate Market Report
Jupiter Real Estate
| Jupiter Real Estate Market
The Jupiter real estate market continues to see rising prices and shrinking inventory. I always use Abacoa as a good barometer of the market as the homes are all very similar and there is a large segment of choices. Believe it or not but right now there is only 1 – Two story townhouse for sale under $300,000 and it is listed at $295,000 in Martinique in Abacoa. The next townhouse is listed at $329,000 for the same 1,500 sq. ft. townhouse in Mallory Creek. Mallory Creek is newer and it was the first phase where Abacoa started offering upgraded cabinets, flooring, Granite and S/S appliances.
The least expensive larger 1,800 sq. ft Abacoa townhouse in Tuscany is listed at $329,000. Right now there are just 7 of the two story townhomes in Abacoa for sale under $350,000. If you are familiar with Abacoa you know the size of the community and to have just 7 townhomes under $350,000 is a bit scary for a buyer. It’s great for a seller.
Jupiter Sales Let’s talk about the sales for the last two weeks of June. With 154 properties closing, 53% of the sales were under $400,000 and the majority of the sales were in the $200,000 to $300,000 range which is our entry level condo and townhouse market.
In the $500,000 price range and above we saw the largest percentage of sales in the million dollar plus range and the smallest percentage of sales was in the $500,000 to the million dollar mark. Just 20% of sales this week were $500k to 1 million. As you can see the high end and the low end properties are our strongest markets.
Everyone is asking what is going on with the market as inventory levels continue to shrink. We are seeing less quality homes for sale and more original homes. The updated homes are selling rather quickly. If you look at many of the photos you will see many homes and especially condos look like they did in 1980. No upgrades except for some laminate floors and S/S appliances. There are a lot of original homes for sale. The cost/time to remodel pushes many buyers to grab at the nicely updated properties. Many realize the time and effort aren’t worth buying the original homes so they tend to sit longer in many cases.
There are plenty of buyers out there looking for just the right property and when it hits the market expect to see multiply offers and be prepared to pay close to asking price in many cases. Jupiter Beachfront Communities
I’m see some record prices in some of the communities along the beach. In the Estuary I saw three of the downstairs units go under contract that were listed between $349,000 and $398,000. Last year these condos were $300,000. A 3 bedroom Sea Brook townhouse went under contract which was listed at $329,000. This unit wasn’t updated and the last sales were $329,000 for a nicely updated unit earlier this year. A 4th floor Jupiter Ocean Grande condo which had a peek of the ocean also went under contract and it was listed at $1,050,000.
What I’m seeing is buyers are buying the very low end of the condos in the building just to get a place by the beach or they are wanting the best ocean views. I’m still seeing a lot of lower floors sitting or units with fair views not selling quickly unless they are being heavily discounted. Even in a condo location is the most important aspect of the purchase.
Rentals
We have some great rentals available still for next season that just recently came on the market.
Ocean Trail – 2bd/2ba with direct ocean views sitting on the sand. $5,500/month. Recently updated. 3 month minimum.
Via Del Mar– 2bd/2ba one story villa. All updated with garage and several patios. Walk to the beach. $4,500/month. 60 day minimum
The Estuary – 2 bd/2Ba condo with garage. First floor unit overlooks the golf course. Walk to beach. $4,000/month. 3 month minimum.
Jupiter by the Sea– 2bd/2ba with ocean views. 2,200 sq. ft. Complete remodel. 9ft ceilings. One of the premier Jupiter condos. $9,500/month. 3 month minimum
Water Glades – 2bd/ 2 ba – 11th floor. Complete remodel. Beautifully done with spectacular ocean & Intracoastal views. $6,500/month. 4 month minimum.
Bella Vista on the Park – 3bd/2.5 ba on Carlin Park. Walk to the beach, shops and restaurants. $4,000/month. 3 month minimum.
Buying or Selling 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 property sold before you got here.
Top Ten Listings
Our top ten listings link can be found on the top left corner under recent Sold’s. Five of my top ten listings went pending this week including the featured Sandpointe Bay property and the Abacoa home. They were two great properties.
Take a look and see what new Jupiter condos & homes we have for sale. Several of our ten best properties are now under contract.
Don’t forget to look at our other websites for Boca Raton Condos or Hutchinson Island condos. Hutchinson Island offers affordable oceanfront living with a more relaxed atmosphere reflecting Old Florida.
Need a Ray of Sunshine this winter?
Click here to view Jupiter beach cam
Click the link below to view new Jupiter homes.
New Construction Jim McLane (561) 744 7025 Ritz Carlton Power Broker 2012 Virtual Global Realty |
