Jupiter Real Estate
Condos & Homes in the Jupiter Real Estate Market
The Jupiter real estate market has seen a complete 180 degree turn from just a few years ago. A few years back and the buyers were dictating the terms of most deals but now with a limited inventory of homes in Jupiter for sale the sellers are dictating the terms. What has caused this sudden reversal of roles? It seems like Florida is either boom or bust and never really a stable market. The Jupiter real estate market has seen the number of homes for sale decline by 50% in just the past year causing upward pressure on prices which have seen 10 to 25% increases over the past two years and in some cases as high as nearly 50%.
No matter if you are looking at single family homes in Jupiter or oceanfront condos prices are up. Water is the special ingredient that is causing the largest rise in prices. Single family homes on the water or direct oceanfront condos seem to be the strongest market right now. Abacoa homes in Jupiter has also seen a tremendous rise in prices where townhouses are all above $300,000 and single family homes are starting about $500,000 with supply at an all time low.
The demand for good neighborhoods and nice places continue to drive prices along with low interest rates. What do we see in the next 12 to 18 months for the real estate market in Jupiter? We should see continuing strength in the sub $300,000 market which is now our entry level market for Jupiter real estate. Some of the properties in that price range are having sales in just days with multiply offers. The high end luxury home market has seen a huge demand as well. Our biggest problem is finding either updated or newer homes to sell. There are many older homes and original condition properties for sale. Buyers have high expectations and finding that product can be a challenge.
