Month after month, we have watched pending home sales in Jupiter and the surrounding communities move lower and lower and lower. For nine long months, since April 15th of last year, it had been almost a straight down spiral. Down over 32% during that span. We knew that the lack of quality of inventory was an issue but we certainly had to start asking ourselves if demand was more of an issue that we thought.
Turns out that it was, as over the last 30 days demand is back. Home buyers are back. In a big, big way. We have been screaming from the roof tops this season was going to be big, Really, really big. It’s here and it is big. The last 30 days shows we were right. What a historic move, as pending home sales in the Northern Palm beaches soared over 40%. In one month. WOW! We have never seen an increase like this in the time we have been keeping records and that my friends is a long, long time. Up to the highest levels we have seen since May 15th of last year. Up almost 23% in just 2 weeks. Up over 15% from year ago numbers. Up 13% from the moving 12 month average. Incredible numbers and once again we are telling you this season is going to be big. Really, really big.
Inventory didn’t change much, in fact our next market report will show a decline in available homes. Just six days ago we reported how single family home prices in the area has declined but told you we were turning the corner and that higher prices were coming your way. It’s still about 24 days before we bring you the next report on single family home prices in the Jupiter area but mark my word they are going to be higher. This season is going to be big. Really, really big.
Paradise Sharks Real Estate