This week we’re expanding out of Jonathan’s Landing to take a look at the larger Jupiter real estate market. Based on my data, the past few months has seen some advances regarding total home sales and pending home sales in the Jupiter, Florida area. For the purposes of this blog we’ll go ahead and combine Jupiter, Unincorporated Jupiter and Tequesta into one area, to get a better look at the trends over the entire Jupiter region.
Based on March 1st numbers (the latest month available) the Jupiter area has seen home sales pick up 10% month over month. While this is certainly good news for those looking to sell their home in Jupiter, we’re still recovering from falling sales numbers since July 1. This recent bump can be attributed to the arrival of season and the harsh winter up north. A sales bump this time of year is not a statistical anomaly and falls generally within the historic sales levels. (2008-2009 being the exception to the rule.)
I’m also pleased to report median home prices have risen for 4 straight months, so while we’re not at pre-recession levels just yet, we are marching back in the that direction steadily. Sales don’t seem to affected by steadily rising interest rates, but even those are still below historical averages, meaning today’s rate of roughly 4%-4.5% are a bargain for those in the market in the Jupiter/Tequesta area. The national trends of all-cash purchases have been seen in the area but the days of finding absolute steals due to short sales or bankruptcy auctions seems to be a thing of the past at this point.
It’s hard to believe we’re in the latter 1/3 of March already, but the calendar doesn’t lie. If you’re interested in renting your home out seasonally we offer a great seasonal rental program that allows your assets to work for you while you return home for the balmy summer months. We’ve had this rental program as main pillar of our business since 1996 and can maximize your return and handle all of the day-to-day management out of our offices on Indiantown Road.
Enjoy this weather before the humidity picks up and keep an eye on Preferred Residential properties blog for the latest information on the Jupiter Florida real estate world.
