Jupiter Homes for Sale
This week we will show you the trending markets for Jupiter, Juno Beach and Tequesta over the past two years and how the market is changing. After reviewing the charts you may better understand our real estate and see what is happening in the market. This may better assist you in making and informed and educated purchase. As you can see our active listings are down to the lowest levels in over two years. Homes for sale here in our area are down 40% to a low of just 851 properties for sale. New listings continue to decline with a high of 391 in March 2015 to just 305 new listings in July. Our days on market(DOM) continues to decline and is also at a two year low of just 58 days. These numbers reflect what is happening in our local market area here in South Florida.The areas both to the South and North of us are seeing similar trends. See whats happening in the Jupiter real estate market.
Jupiter Oceanfront Condos
After reviewing the above information I wanted to delve more into the beachfront condo market and see what is for sale here along the beach. The largest number of condos for sale is still on Singer Island which has 189 condos for sale. Singer Island has the largest number of condo buildings in our area so it should also have the largest number of condos for sale. This sounds like a large number of condos but once you really start looking you will soon realize how little quality products are for sale. Many are either high end million dollar plus properties or lower end condos that may have parking lot views or need major renovations.
Juno Beach which is much smaller than Singer Island has 43 condos for sale with just 16 condos for sale on the beach. Of the 16 condos for sale, 7 are over $1.2 million. This leaves Juno Beach with just 9 condos for sale under the million dollar mark. Probably 80% of the buyers are in that under million dollar price range. Jupiter Island has a similar number of condos for sale with just 18 condos for sale. Both are the lowest levels in over a decade. Jupiter has 54 condos for sale East of the Intracoastal with just 21 units having ocean views. Ocean Trail which is the largest condo complex in Jupiter has over 500 condos in the complex has only 7 condos for sale.
I hope you can now understand why we are seeing increased prices, more competition for properties and a shortening in the days on market. Buyers are starting to explore other areas and options in hopes of finding not only the perfect oceanfront condo but single family home as well.
We are down to just about a 3 month supply of homes for sale and a 6 months supply is a neutral market. At 3 months we are showing a strong sellers market with little change in the future.