If you own a single family home in the Northern Palm Beaches, it is probably worth more this morning than any other morning in the history of the world. During February, the median single family home price in the Jupiter area jumped 2.5% to an all time record high of $522,500. This was up from $510,000 in January and took out the previous record high of $515,000 set in June of last year.
One month ago in this column, Paradise Sharks told you that “all signs have been flashing the green light for home prices to start moving higher in the Northern Palm Beaches”. Those signs are still flashing and we expect even higher prices coming your way in the months ahead. There are a number of reasons why prices should continue their march to higher plateaus. Inventory levels of single family homes are down 22% in the Jupiter area compared to last year, pending home sales should continue to spike through the end of May, and fueled by a significant cut in interest rates by the Fed we should be also be seeing new records when it comes to the historic low cost of borrowing money.
There are certainly things we need to watch as the threat of a recession is out there and the current coronavirus scare is certainly adding fuel to the fire. The Dow Jones was down another 970 points yesterday and over the past few weeks is down a rather dramatic 12%. Million dollar home sales in the Northern Palm Beaches did not have a great month in February.
There is no doubt that inventory is badly needed, and if you are even thinking about selling your home, there may not be a better time. Paradise Sharks doesn’t want to be the biggest real estate broker in town as we know that with size comes expense. After doing nothing but real estate for decades, we realize that outstanding customer service coupled with the best value in the industry is badly needed in today’s world. We can list almost any home for no more than a total commission of 4% and if your home is worth more than a million dollars, is in exceptional condition, or sells in less that a week, we can save you even more money. If you are buying, and Paradise Sharksrepresents you, it almost goes without saying there will be a significant credit from us on your closing statement as our little way of saying thank you for your business.
If you want to learn more, or Paradise Sharks can be of help on any way, please feel free to reach out to us at tom@paradisesharks.com or 561.308.0175. In today’s world education is the key to success and we’ll show you how to save money whenever you are doing anything real estate.
Fins up……..
#jupiterhomeprices
One month ago in this column, Paradise Sharks told you that “all signs have been flashing the green light for home prices to start moving higher in the Northern Palm Beaches”. Those signs are still flashing and we expect even higher prices coming your way in the months ahead. There are a number of reasons why prices should continue their march to higher plateaus. Inventory levels of single family homes are down 22% in the Jupiter area compared to last year, pending home sales should continue to spike through the end of May, and fueled by a significant cut in interest rates by the Fed we should be also be seeing new records when it comes to the historic low cost of borrowing money.
There are certainly things we need to watch as the threat of a recession is out there and the current coronavirus scare is certainly adding fuel to the fire. The Dow Jones was down another 970 points yesterday and over the past few weeks is down a rather dramatic 12%. Million dollar home sales in the Northern Palm Beaches did not have a great month in February.
There is no doubt that inventory is badly needed, and if you are even thinking about selling your home, there may not be a better time. Paradise Sharks doesn’t want to be the biggest real estate broker in town as we know that with size comes expense. After doing nothing but real estate for decades, we realize that outstanding customer service coupled with the best value in the industry is badly needed in today’s world. We can list almost any home for no more than a total commission of 4% and if your home is worth more than a million dollars, is in exceptional condition, or sells in less that a week, we can save you even more money. If you are buying, and Paradise Sharksrepresents you, it almost goes without saying there will be a significant credit from us on your closing statement as our little way of saying thank you for your business.
If you want to learn more, or Paradise Sharks can be of help on any way, please feel free to reach out to us at tom@paradisesharks.com or 561.308.0175. In today’s world education is the key to success and we’ll show you how to save money whenever you are doing anything real estate.
Fins up……..
#jupiterhomeprices
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