Jupiter Real Estate Report 12-8-18
Jupiter Real Estate
I want to congratulate Walt and Wendy B and their sister in law Diane on a beautiful condo they just purchased in the Bluffs Marina. The nicely updated ground floor unit with Intracoastal views for under $300,000. I’m sure they will enjoy their new home in building 17.
Our market continues to show a strong demand for South Florida real estate. We seem to have mixed signals regarding what direction our market is going and for how long. We continue to see an increase of new listings for sale in Jupiter Fl but we still don’t have sufficient inventory for the demand we are encountering. Sales are still moving along at a steady pace without much change in monthly sales numbers. The last two weeks of November showed 98 sales in our tracking area which is down just a small amount from our normal but it can be attributed to the Thanksgiving holiday.
Jupiter Fl Real Estate
I’ve been speaking with different Jupiter real estate agents and am seeing similar responses from them. Most are saying it’s slower than usual but no one is exactly sure what is driving the slowdown. We hear prices, inventory choices and a lot of homes that just need to much work.
I’ve recently obtained a Colorado real estate license and have been watching their market out there which is much more expensive then our Florida market in most cases. I’ve been tracking properties and areas and am seeing similar market conditions. Little new inventory, prices up 25% or more from just a few years ago and new construction is quite expensive. I’m watching price drops out there each week and when I see a really special property it sells rather quickly. I’m also seeing a large disparity in original asking prices and selling prices. It’s not just here in South Florida but it seems to be a nationwide scenario. I’m not sure what’s happening in your home markets but it may be similar.
Seller’s in many cases are listing their Jupiter Fl homes much higher than recent sales and buyer’s are cherry picking the best properties. I have some really clean , well priced properties for sale and we are getting excellent foot traffic but offers are less than stellar. It seems to be buyers are in no rush and sort of waiting out the market to see what perpetuates in the upcoming year. Our stock market will make you dizzy with the rapid extreme rise and falls daily. Our national news portrays a crazy and wild divided country and it just seems there is a lot of uncertainty. I feel it’s making buyers sit on that fence a bit and watch the show before jumping in.
Let’s all hope for a wonderful New Years and enjoy your holiday times with your friends and family. I hope to see you down in Florida this winter and let’s look forward to 2019.
Search for More Real Estate
