Even though the number of single family home closings in the Jupiter area fell by 23% in January, median prices jumped from $496,000 to $510,000 and just like that, we are up to the highest prices we have seen since way back in June when we hit a new record price of $515,000. In all honesty, there is nothing that should stop us from reporting a brand new record high when we write this column one month from today. With all the green lights flashing we actually should blow that old record right out of the water.
We kick off the new year with the top end of the market red hot. We are talking about homes that sell for over a million dollars. Last year, resales of these luxury properties broke the old record by well over 10% and things keep getting better at the top. January sales of million dollar properties eclipsed the old record by 27%. These are huge numbers and the main reason median home prices are off to the races.
Homes priced under the $600,000 range remain in very high demand with buyers watching prices and condition very carefully. Anything that is priced well, under that threshold, and in move in condition tends to fly off the shelf. The next 5 months are the best we see all year for single family home sales and right now it looks like median prices should be heading significantly higher. Those green lights are flashing like crazy!
Just because prices are climbing, does not mean you will be priced out of your dream home. Interest rates have been falling and lower your cost of ownership. You also can save a ton of money if you shop around for the best value from the real estate community. It does not matter if you are buying, or selling, interviewing brokers and asking the questions that matter, in the end will keep more of your money in your pocket.
Paradise Sharks has been doing nothing but real estate for decades and our boutique brokerage is in our 7th year. We are proud to bring value to the market that most of our competition can only dream about. Almost all of our buyer clients get significant credits at closing as our way of thanking them for their trust. They don’t even have to ask as we just do it. Our seller’s end up saving tons of money with our “let’s set a record price” marketing that starts at just 4%. We would love the opportunity to earn your trust, and your business, and if we can ever have the opportunity to interview we would be honored. You can reach Paradise Sharks at firstname.lastname@example.org or 561.308.0175 to schedule your complimentary consultation.