Thankfully, December is well underway as we draw closer to what we hope will be a red hot real estate sales season here in the Northern Palm Beaches. The first few days of the month have shown us stronger sales than we expect this time of the year, but it’s still early. Heck, Santa Claus still has 19 days to prepare for his big day.

Looking forward is great, but we always look back as it helps us understand where we are going. For single family home sales in Jupiter, and the neighboring communities, November sales were lackluster. Closing volume was down 28.3% over October numbers and 13.1% below year ago numbers.

Slowing volume tends to put downward pressure on prices and that is what we saw in November. Median single family home prices in the Jupiter area pulled back $5,000 and sit at $500,000 as of December 1st. This leaves median single family home prices at the exact same level as 7 months ago. Year over year prices are up 5.3%.

The fact December sales have started with some strength may be in part due to slow November sales. No doubt the lack of inventory is part of the problem, as is affordability. Interest rates this morning were within one basis point of three year lows and strong economic news out today are both positive forces.
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If you are contemplating any real estate decisions in the weeks ahead, seek education. Informed decisions are the best decisions. Mistakes are costly and if Paradise Sharks can ever be of help in any way you can easily reach us at tom@paradisesharks.com or 561.308.0175. We have been doing nothing but real estate for almost 40 years and our boutique brokerage is getting ready to kick off our 7th year of bringing higher levels of customer service and lower prices to clients throughout Palm Beach and Martin County. As we always say, you can pay more, and receive less, but that just doesn’t make any sense.


Fins up……


#jupitersinglefamilyhomeprices

The Jupiter real estate market is approaching a defining moment, as we inch closer to the start of our home buying season that historically kicks off about January 15th. On many fronts, it looks to be a banner season with interest rates and unemployment near all time lows, while wages and new job creation keep hitting new all time highs. The Northern Palm Beaches real estate community should be licking their chops.

However, there is a serious problem, as inventory is already at historic lows with no signs of getting better. During November, the number of homes on the market for sale in Jupiter, and the neighboring communities, did rise as we expected. However, that increase was a modest 3.7%. Our current inventory levels are 14% below year ago levels and we have to go back well over a decade to find lower inventory levels on December 1st.

The lack of options for buyers, especially at the lower price points, is of true concern and not bound to improve in the near future. December is not a month we see a lot of new listing activity as potential home sellers prefer to enjoy the holidays without a stream of buyers spoiling the festivities. We can pretty much guarantee you that a month from now, when buyers are ready to buy, there will be even fewer options for them.

New construction in the Northern Palm Beaches remains very expensive and out of reach for many buyers. With few quality options, buyers are frustrated, and as of December 1st, pending home sales are down for the 7th straight month. November’s fall was barely measurable, but watch for a more significant decrease this month as home buyers tend to take the holidays off as the lack of new listing activity means little to grab their interest. There is some good news, as on this December 1st there are 11.7% more homes under contract than year ago numbers.  
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If your homes’ value is important to you, keep your eyes and ears open in the months ahead. While million dollar home sales in the Jupiter area will set another all time record in 2019 we have seen weakness in resale closings over the past 4 months. However, many buyers at the top end of the market are building and we have never seen the volume of custom homes under construction as we see today. Watch inventory, prices and sales in your neighborhood closely and if you ever need help understanding what the numbers really mean, feel free to contact Paradise Sharks as we are here to help. You will find us easy to reach at 561.308.0175 or tom@paradisesharks.com. Our passion is always to serve our clients and their needs and we look forward to being of service.


Fins up……




#jupiterhomeshortage

As of November 15th, the median Jupiter condo price, and those in the neighboring communities, was down again for the third straight month. In fact, that median price today is lower than anything we have seen since way back in April. Today’s median condo price in the Northern Palm Beaches is $245,000 down from $246,375 a month ago. But, hold onto your seats, as condo prices are poised to move higher. And that move may be significant.


If you are looking to buy a condo, your options may not be great, but condo inventory in the Jupiter area has climbed significantly. In fact, over the past 90 days, local condo inventory has climbed a dramatic 16%. With prices down, and getting ready to climb, you may do your best to find that perfect home prior to the end of the year. You can save even more money if Paradise Sharks is your broker, as we give all our buyer clients significant credits as closing. You don’t even have to ask, we just do it. If you want to learn more about this buyer friendly program reach out to us anytime at tom@paradisesharks.com or 561.308.0175. Paradise Sharks LOVE to help our clients make informed decisions and save them lots of money at the same time.

Condo sales in the Jupiter area over the past 30 days were up for the third straight month but compared to last year they were not good. In fact, 2019 sales were down 19% from 2018 numbers and that is a little concerning. Some of it is related to poor quality inventory. Some of it is related to seller’s asking too much for their condos. Some of it is fear in what we are watching going on with the political divide here in America. 

If you are considering selling a condo, you better get properly positioned and understand the historic buying cycles here in the Jupiter area. To hit the “sweet spot” of the market you will want to go live on the Multiple Listing Service on Monday, January 13th. Interview brokers, get informed and ask a lot of questions. Invite Paradise Sharks to interview and you will learn that our decades of experience and boutique culture can provide our world class “let’s set a record sales price” marketing for total commissions that begin as low as 4%. If Paradise Sharks ever does not perform as promised, we insist you fire us. We have never been fired.

So, why are we so upbeat and believing that prices are moving higher. The real answer is we study the market and know the numbers more than any real estate broker we know anywhere. We know that single family home prices have already started moving higher. We know condo financing is easier than it has been for over ten years. We know condo sales are going to pick up dramatically on January 15th and have their best 6 months of the year after those sales start hitting the closing table. We know increased demand puts upward pressure on prices. Next month we may see prices still flat and maybe even a bit lower, but after that watch out as they will be heading higher. 

Certainly, a major economic event could derail the real estate market but we are hopeful that the current administration can keep this economic resurgence going and that will be very bullish for real estate here in the Jupiter area.
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If you ever have any questions about your real estate situation, Paradise Sharks is here to help. No obligation, no contracts to tie you down, and a strong desire to provide an amazing real estate experience at the best prices you will find anywhere.


Fins up…..




#jupitercondoprices

The number of Jupiter area homes on the market for buyers to select from was up again, as of today, for the 2nd straight month. Over the past 30 days, inventory levels have jumped about 5.9% which was in line with expectations. But, today buyer’s have over 10% fewer options than one year ago, with much of the added inventory being condominiums.


This increase in inventory brings us to the highest levels we have seen since July, but are at the lowest levels we have seen on November 15th in many, many years. In many neighborhoods, and price points, buyers have little to be excited about.

Interest rates were unchanged over the past week, and today sit only 4 basis points higher than the 26 month lows we saw last month. The economy, and the tug of war on interest rates, between Jerome Powell and President Trump will play a significant role as we move forward. Mr. Powell says further Fed cuts are unlikely, but any softening in the economy will probably mean the opposite. I cannot tell you how any negative news about the economy will impact the real estate market over the next year.

Pending home sales did show some surprising strength and are actually up slightly over the past month. Last year over the same period, pending home sales were down 7.3% so any increase is strong positive. It was a rare increase for this time of the year, and in all honesty, we should expect further declines, that may be significant, over the next 60 days. Besides a surprising increase this month, pending home sales remain a very solid 8.4% higher than last year’s numbers which is another bullish sign.

Million dollar home sales had shown some weakness over the past three months but so far November looks like a very solid rebound. There is no doubt that 2019 will be a record year at the very top end of the market. Drive around any residential waterfront neighborhood in the Northern Palm Beaches and you will see custom home construction like we have never seen before.

Median single family home prices have been moving higher, and as of today, are back up to all time record highs. Interestingly, condo prices are still in a funk and remain at the lowest levels we have seen since April. Once seasonal condo buying starts picking up in two months you can bet condo prices will be moving higher as well.

We are just heading into the most exciting time of the year for Jupiter real estate. If you are thinking about selling a condo, you better get going right now to come up with the most optimal pricing and marketing strategy. If you are thinking about selling a single family home you have another few weeks before you need to get serious.

Paradise Sharks has decades of experience in a career that has been nothing but real estate. Building it, selling it, studying it and writing about it. We have effectively kicked the middleman out of the real estate transaction and that saves our clients huge amounts of money. Our consultations are always complimentary and can be scheduled anytime at tom@paradisesharks.com or 561.308.0175. You can always pay more for real estate services, and receive less, but that just wouldn’t make any sense.


Fins up…..

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#jupiterrealestate

We are starting to feel the annual migration of sun seeking visitors to our little slice of paradise. Here in the Northern Palm Beaches, we see more cars on the road, more people on the beach, and tables at the best restaurants mean you better have a reservation, or be prepared to wait.

Season has started, and while the big crowds don’t arrive until after we get through the holidays, there is no doubt that the party has already started. This years’ season should be a big one and if the economy keeps churning in a positive manner, local real estate is going to get more expensive.

As of November 1st, the median single family home price in Jupiter and the neighboring communities jumped, but as Paradise Sharks has been telling you, higher prices are coming. Back on June 1st, we hit an all time record high of $515,000 and over the summer we watched prices drop for 4 consecutive months. That downward streak ended in October with median single family home prices jumping from $496,250 all the way back up to $510,500.

Sales actually were not that strong, and in October were a full 14% below year ago numbers. It isn’t demand pushing prices higher, it’s supply, with very few quality homes available in many neighborhoods and price ranges. That lack of inventory means sellers with quality homes are asking more, and if buyers want to play ball, they are finding they need to pay more.

Location is driving prices higher in the most sought after neighborhoods, with Tequesta still leading the pack. So far this year, the median single family home price in Tequesta sits at $585,000, up an impressive 23% over last year’s numbers. Compare that to Jupiter, where the median single family home price is up a far less dramatic 3% in 2019.

So much to keep our eyes on, with the crazy political race we have underway, interest rates that have moved higher from recent lows and inventory levels that remain 11% lower than last year. We should see inventory levels climb higher, interest rates drop lower, and sales start picking up in January. Condo sales will perk up first and so far we have not seen condo prices jump like single family homes, but those price increases are coming.

If doing anything real estate please seek guidance as this is not a market for the uneducated. Prices can move dramatically higher but things can change at the drop of a hat. Pay close attention and if you have questions, or need advice, please feel free to contact Paradise Sharks as we are dedicated to quality service and exceptional value. Decades of experience and we are unencumbered by middleman expenses that drive costs higher at many real estate brokerages.
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Paradise Sharks pays no franchise fees, has no broker to split commissions with and we simply pass those savings on to our clients. Our world class “let’s set a record price” marketing packages are available at total commission packages that start as low as 4%. Our buyer’s all get cash rebates at closing and that’s how we like it. If we can ever be of help, in any way, just ask. You will find us super easy to reach at 561.308.0175 or tom@paradisesharks.com.


Fins up……


#tequestasinglefamilyhomeprices

Father Time slows for nobody and here we are in November with just a few more weeks before seasonal home buying starts picking up in earnest. At least if you believe history repeats itself. In the Village of Tequesta, and the rest of the Northern Palm Beaches, the month of October was another interesting one for the local real estate market.

Pending home sales were showing some surprising strength over the 2nd half of the month, but they plunged a bit over the past few days which meant our 6th straight monthly decline. Thankfully, the monthly decline was barely measurable and a strong performance compared to year ago numbers. That performance means the number of homes under contract in the region, is up over 15% compared to year ago numbers, which is a great sign. Still, we have about 2 1/2 months before we typically see a spike in homes going under contract based on historical cycles.

A big problem for buyer’s in many neighborhoods is inventory, especially homes in move in condition, at prices that aren’t inflated based on current market conditions. As expected, October brought more homes to the market with a 5.7% jump in inventory. It is the first time in 8 months that buyer’s have started the month with more options. That being said, last year during October we saw a 9% increase and compared to year ago inventory, todays buyer’s have far fewer options.

Condo sales have remained weak with pricing pressure to the downside. Median condo prices in the Tequesta area today sit at the lowest levels we have seen since way back in April. Single family home prices had done a bit better and are starting to push higher after hitting 7 month lows. Median home prices in Tequesta are still on top of the list of larger Palm Beach communities, a testimony to our quality of life and strong demand. This demand should remain strong through the spring and bring even higher prices as we move through the 2019-2020 season. Great news for seller’s but buyer’s will want to fully understand the numbers on any purchase, especially if we see a strong jump in prices from today’s levels.

Paradise Sharks watches the top end of the market very closely, as when lots of homes are selling above the million dollar threshold, they drag the rest of the market along for the ride. In October, sales at the top end of the market fell behind years ago numbers for the 2nd time in 3 months. Not time for any panic, but we certainly want to keep a very close eye on these numbers as we get into the new year. Sales of these homes remain 23.5% ahead of last year’s all time record. New construction of custom homes on the water in Tequesta is also at a level we have never seen before. Money is freely flowing into expensive real estate here in Palm Beach County’s northernmost community.

Right now, it is looking like a banner season for real estate heading our way here in Tequesta and the rest of the Northern Palm Beaches. Seller’s and buyer’s need to make fully educated decisions and if Paradise Sharks can ever answer any questions, or be of help in any way, please feel free to contact us at any time. You will find we are super easy to reach at 561.308.0175 or at tom@paradisesharks.com. Put our decades of experience to work for you and learn how our boutique brokerage will not only save you a ton of money over most of the competition, but ensure the quality of our service remains special. It’s what we do and we are very proud of how kicking the middleman out of the real estate transaction saves our clients thousands and thousands of dollars.


Fins up……




#tequestarealestate

Over the past month, the median condo price in the Palm Beach Gardens area dropped about 3% to $247,875 and the lowest level we have seen since back in April. Condo sales volume for the past couple months is lower than we have seen in years. Home inventory levels are moving higher in October for the first time in 8 months. Political turmoil like this country has never experienced. Slowing demand, increasing supply and interest rates that have jumped a bit over the past week. Certainly does not look like a recipe for median condo prices to start moving higher.

However, if you peel back the layers, it certainly looks like anyone shopping for a condo in the Northern Palm Beaches may want to hurry if they are looking to secure a great deal.

There are a number of reasons to believe that median condo prices will start moving higher. One big factor is the new Federal Housing Administration condo financing rules that became effective last week. Buyers have far more availability for financing on many condos where 3.5% down payment loans is now available. The reality is, condo buyers have better financing options now than they have had in about a decade.

We are also seeing an unexpected increase in pending home sales so far in October. Last year during the month they fell 16%. Increasing sales this time of year is not unprecedented, but again not something we would expect.

Historical data tells us seasonal factors almost always have condo sales picking up dramatically starting about January 15th. If the economy stays strong there is no reason to believe 2020 will be any different. No doubt the political divide we are experiencing in America is not healthy and there still are many questions about what the future holds. 

For now, the top end of the Palm Beach Gardens real estate market has never been stronger. Keep informed, seek education and don’t let anybody sell you anything. Paradise Sharks has decades of experience, customer service that will make you smile, and value that those big box brokerages can only dream about. Full service listing commissions as low as 4%, buyer rebates on every purchase and if we ever do not do exactly what we say we insist you fire us. We have never been fired. 
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To schedule a complimentary consultation with Paradise Sharks feel free to contact us anytime at tom@paradisesharks.com of 561.308.0175. We would be honored to earn your trust and your business.


Fins up……




#palmbeachgardenscondoprices

If you have any thoughts of selling your home in the Jupiter area, you may not find a better time. Strong seasonal sales are just around the corner and there just aren’t enough quality properties for buyers to select from. New listings are badly needed in most neighborhoods.

Home buyers in the Northern Palm Beaches have fewer choices than they have been accustomed to at this time of the year. The number of homes available for buyers to select from remain over 10% lower than year ago numbers. 

If there is any good news, it’s that inventory levels are up slightly over the past 30 days, after 6 straight months of decline. The monthly increase was 1.6%, which is far below the 5% increase we saw over the same time period last year. When you dig further into the numbers, you will find that there is very little selection at the lower price points.

Interest rates have moved a bit higher this week, but still remain near historically low levels. Buying of luxury homes, with price points above the $1 million dollar threshold, remains very strong. Even with this record strength at the top end of the market, pending home sales over the past 30 days are down again for the 6th straight month. We expect further drops over the next three months before seasonal home buying kicks into gear about the middle of January.

With poor selection for many buyers, and the slower sales months, prices have been pulling back, but signs show that this trend may soon be reversing. Paradise Sharks will be reporting the latest condo prices in the Jupiter area next week. We fully expect they will be down again to the lowest prices we have seen in 6 months. However, new FHA financing rules go into effect for the condo market today and that should help push demand, and prices, for condos higher in the months ahead.

If you are thinking about selling your home, be very careful when selecting a real estate broker. Interview and ask a lot of questions about the service you will receive, and the cost of those services, as they can vary widely. In Jupiter, we still see about 1 in 4 single family home sellers paying a 6% commission and to us the big question is why?

Paradise Sharks has been doing nothing but real estate for decades. We started our boutique real estate brokerage years ago with the mission to make sure high quality real estate services are available to everyone at prices that won’t break the bank. Our “let’s set a record sales price” marketing packages are available at full commissions to our clients that start as low as 4%. Our buyer clients receive significant credits at closing. Because we do not have franchise fees to pay, a broker taking a portion of our commissions, or other middlemen expense we simply can do more, for less than most of our competition. It’s something we are very proud of and if we do not do exactly as we promise we insist you fire us. We have never been fired.

If Paradise Sharks can ever be of help, in any way, please feel free to reach out to us anytime for a complimentary consultation. You will find us very easy to reach at 561.308.0175 or tom@paradisesharks.com. Paradise Sharks would LOVE the opportunity to earn your trust and your business.


Fins up…..

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#jupiterhomeinventory

Median single family home prices in Palm Beach Gardens, and the rest of the Northern Palm Beaches, were down in September for the 4th straight month. As of October 1st, the median single family home price in the region sits at $495,000. This is the lowest level we have seen for 7 months and is 4% below the all time record high of $515,000 we enjoyed back on June 1st.

Seasonal factors certainly play a role, but the main culprit remains the lack of quality inventory for buyers to choose from. Pending home sales are poor, and with closings of homes above the $1,000,000 price point setting record after record, there is significant weakness in other market segments. Interest rates remain near multi-year lows, economic news remains positive and the large number of people moving into the state all are bullish signs for the market.

Things in Washington are getting more bizarre with each passing day and the divide in this country is wider than we have ever seen in my lifetime. I am thankful my parents and grandparents are not here to witness what is going on, and I am more than a bit worried about what the future holds for our children and the generations that follow.

It is hard to guess how today’s political environment will effect the local real estate market but there no doubt will be an effect. If the economy stays strong, and interest rates remain near all time lows, we should see strong demand once seasonal buying starts up in January. While inventory levels will increase over the next few months, the lack of quality, coupled with strong demand should push Palm Beach Gardens home prices higher. Buyers may be best suited by searching for the right opportunity over the next three months while sales remain slow. Still, keep a close one on economic news as any serious hiccup could have significant implications on the real estate market.

Anybody considering a purchase, or sale, in today’s market should be interviewing real estate brokers and asking a lot of questions. The waters are rough and uneducated decisions may cost you thousands and thousands of dollars. Paradise Sharks loves to make sure our clients make educated decisions and complimentary consultations are easy to schedule by contacting us at tom@paradisesharks.com or 561.308.0175.
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We have decades of experience and Paradise Sharks was founded to make quality real estate services available to everyone at prices most of our competition can only dream about. We are not encumbered by a broker taking a portion of our commissions, or by paying franchise fees and other middlemen costs. We simply pass those savings on to our clients, where they belong. You can always pay more, and receive less, but that just doesn’t make any sense.


Fins up…..




#palmbeachgardenshomeprices

There just aren’t many choices for today’s home buyer in the Northern Palm Beaches. In Tequesta, the number of options for buyers looking for the right opportunity continue to dwindle. Home inventory levels in the area have dropped for the 7th straight month and now sit at the lowest levels we have seen in over 12 years.

Compared to one month ago, inventory levels in the Northern Palm Beaches have dropped another 1.1% and are down 8.4% from last year. This month’s drop took out the old low set way back on September 1st of 2015.

The good news is, it’s the time of the year we start seeing inventory levels rise in anticipation of the seasonal strong buying that begins about the middle of January. No doubt inventory levels will rise, but it is still very hard to see where a large number of sellers are going to come from.

Demand remains strong at the top end of the market, where homes sell for a million dollars or more. During September, sales of these luxury homes exceeded last year’s record pace by 50% and it’s the 7th new monthly high set so far this year. A strong economy, coupled with a multitude of relocations from high tax states, has created a boom market for $1,000,000+ homes like we have never seen before. Last year we set a all time record high and to date we have blown those numbers out of the water.

While the top end of the market soars, the lack of quality inventory, and median prices that had climbed significantly have helped slow buying down in many neighborhoods. Pending home sales have dropped for 5 straight months and they fell again an additional 6.5% in September. Much of this decline is what we expect because of traditional seasonal buying patterns, but the lack of good inventory keeps many buyers from pulling the trigger.

Interest rates remain very favorable but qualified buyers struggle to find an acceptable home, especially at valuations under $750,000. Buyers still remain selective and are not jumping at overpriced homes or those that need a lot of work. All of these factors have led to declining median home prices with condo prices at the lowest levels we have seen since April. Single family values have pulled back even more and are now at the lowest levels we have seen since March.

Buyers need a game plan if they are going to find their pot of gold at the end of this real estate rainbow. It’s critical their finances are in order and cash or strong pre-approval credentials are readily available. It’s critical they are informed immediately of new opportunities that match, what hopefully is, a very well defined search. It’s critical they can make quick decisions with a real estate broker who has the ability to show them the true value of any home. Its a tough game, but one than can be won with the right strategy and a little patience.

Paradise Sharks has been playing the real estate game for decades and our boutique culture, without middlemen, means our clients are rewarded with closing credits for all our buyers and the lowest commissions anywhere for our seller clients. When doing real estate, always interview and make sure you are making informed decisions. Interview brokers and Paradise Sharks would LOVE the opportunity to earn your business and show you how the real estate game should be played. Contact us anytime at tom@paradisesharks.com or 561.308.0175.


Fins up for winning this crazy game of real estate……..


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#tequestahomeinventory