Over the past month, the median Jupiter condo price has rebounded nicely after dropping last month for the first time since February. This morning, the median price of a condo in the area sits at $225,000. Up about 1.2% over the past 30 days and up about 4.7% from year ago numbers. Very comfortable increases when compared to single family home prices that have been moving steeply higher.
Seasonally, we have arrived at a point where we should start seeing inventory levels increase. However, more homeowners are not planning on going anywhere. A recent survey by Realtor.com shows the baby boomer generation is loving where they live and just aren’t planning on moving anytime soon. In Jupiter and the surrounding communities, the second home market is a much bigger market segment than most areas. New construction prices are still far above resale prices in the Northern Palm Beaches and that is one factor that has been driving prices higher.
Always make informed decisions when doing anything real estate and if Paradise Sharks can be of help in any way please feel free to reach out to us at 561.308.0175 or firstname.lastname@example.org.