2nd straight monthly gain in Jupiter home inventory is encouraging
Another month has passed us by. Thanksgiving is behind us and only 24 more days until Christmas. Welcome to December. In Jupiter, and the entire Northern Palm Beaches region, that means a temperature of 77 degrees this afternoon and the release of the latest Jupiter home inventory numbers by the team here at Paradise Sharks.
We have seen local real estate sales and prices climbing over the past 45 days which is good news after a rather ho-hum kind of summer in the real estate market. And things are continuing to perk up with the return of our seasonal visitors. Nothing could be better news than a rise in the level of Jupiter home inventory and that in the entire Northern Palm Beaches region.
As of December 1st, Jupiter home inventory is up almost 6% from month ago numbers, which is welcome news for those out looking to purchase property in the area. We are back up to the highest Jupiter home inventory numbers we have seen since July 1st. Up 5% from where we stood a year ago at this time. Good news indeed. All signs point to this trend in higher Jupiter home inventory continuing for at least the upcoming quarter which is fantastic news as sellers try to capitalize on the annual return of the snowbird.
Snowbirds are once again arriving early, in fear of a replay of last year's brutally cold temperatures up north. Those seeking seasonal rentals have been faced with limited options, higher prices and the reality of a minimum 90 day lease requirement in many locations. This should spur local real estate buying activity as they realize that properly managed, a vacation home can be less expensive that renting and we continue to believe higher prices are ahead in the Northern Palm Beaches over the next 4 to 6 months. Rising Jupiter home inventory means more selection which should also help boost real estate sales over the season. Higher Jupiter home inventory might help keep prices from rising too high which is also a positive sign.
Everything seems to be moving in the right direction right now. The table is set and the next few months we shall see how many buyers actually pull up a seat to enjoy their new slice of paradise. Always interesting, always fun.
Paradise Sharks Real Estate