Seasonal home buying is already underway, and as expected, pending home sales are already moving higher. Pending home sales in the Northern Palm Beaches are up over 13% so far in January, and that climb should continue for 5 more months before starting to taper off. It’s the best 5 months of the year if you are in the real estate business in the Jupiter area.

Jupiter condo prices, and those throughout the Northern Palm Beaches, were up as of January 15th for the 1st time in four months. It’s a most welcomed sign after prices had declined over the previous 7 month stretch. Median condo prices today sit at $249,000 and this is up $4,000 over the past 30 days. It’s also the highest median price we have seen since September.

The good news for condo owners, and the bad news for condo buyers, is prices are going to move higher from here. Condo sales should continue to strengthen and over the past thirty days were up 32% from the previous month which was a strong move. Even better news is, they moved ahead of year ago numbers which is the momentum we like to see heading into the strongest buying season of the year.

While the overall inventory levels are poor, condo buyers have better choices than those shopping for a single family home. The number of condos on the market for sale has increased now for 5 straight months and are at the highest levels since February of last year. Compared to year ago numbers, those shopping for a condo have 9% fewer options, but that compares very favorably to the 17.5% reduction in single family home inventory.

So, condo sales will continue to improve, inventory isn’t great, and interest rates remain at very favorable levels. When you add it all up, Jupiter condo prices are going to be moving higher over the next few months. How high they go is anyones guess. Could we finally take out the old record high of $280,000 from way back in the “bubble days”? That would take a very strong season and is doubtful, but taking out the more recent record of $255,000 set back in July is pretty much a sure thing. In fact, one month from now I would not be surprised if we are telling you that number has been surpassed. Watch for median condo prices above the $260,000 mark for the first time in 14 years very soon.

With Jupiter condo prices rising, there are still a few ways to save money when buying, or selling, a property anywhere in Palm Beach or Martin County. The best way is to team with a real estate broker who has decades of experience, knows the markets and current trends like the back of their hand, and is going to give you the best value. It’s funny as that is just what Paradise Sharks does. Our “let’s set a record price” marketing plans start at total commissions as low as 4% and most of our buyer client’s get substantial credits at closing from us as our little way to say thank you. 
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You can always pay more for real estate services, and receive less, but that just wouldn’t make any sense. If you want to learn more, please feel free to contact Paradise Sharks for a complimentary consultation at tom@paradisesharks.com or 561.308.0175.


Fins up……


#jupitercondoprices

January 15th is the day that Northern Palm Beach County real estate brokers typically have a big Cheshire Cat grin on their faces. Last year, between the 16th of January and the 15th of February, the number of homes under contract in the area jumped 45%. That’s a huge amount of sales in a market where the median single family home price is right around $500,000.

The economy is booming, the stock market is at all time record highs, interest rates remain near record lows, buyers are lined up for the right opportunities, but that big smile is missing from many of those real estate faces this year. The reason is inventory, as there just are not many good properties on the market for buyers to select from.

The number of homes hitting the Jupiter real estate market has increased now for 4 straight months but those gains have been anemic. In fact, compared to last year’s inventory increases, the number of new houses hitting the market was down by a startling 61%. The number of options todays buyer has, is dramatically lower than it was last year. Never in modern history have we had fewer homes on the market as the real estate season kicks off.

Baby boomers are not moving as they have nowhere to go if they did sell. The current inventory shortage can only be described as severe and there is little reason to believe it is going to get better anytime soon. Pending home sales have been down for 9 straight months and now, when the board is set for sales to start rolling in, there is little out there to meet demand. Inventory is especially poor in the lower to mid-range price categories.

Some inventory is priced ahead of the market, as sellers believe prices are moving higher. With limited supply and strong demand one would think prices are climbing skyward but that just isn’t the case. On May 1st of 2018, the median price of a single family home in the Northern Palm Beaches sat at $498,500. Today, it sits at $499,000. Over the past 20+ months the median cost of a single family home in the Jupiter area has not moved. The same is true in the condo market where median prices back in June of 2018 sat at $247,000 and today sit at $248,000.

Keep in mind that each property plays by its own set of rules and many locations are more desirable than others. For instance, in the overall Northern Palm Beach single family home market, without Tequesta included, median prices were up in 2019 by about 4%. In Tequesta prices jumped 17%. Location, location, location. A hot neighborhood will have a completely different set of metrics than a cool one. Make sure you know the “temperature” of any home before entering into a buying, or selling, agreement. Seek education and make informed decisions.

Even though home prices in the Jupiter area are relatively unchanged over the past 20 months, affordability is still a big concern, especially at those lower and mid-range price categories. Buyers are very conscientious of price but are willing to reach for homes that have a high level of finish. Most buyers still do not want to settle on a home that needs a lot of work to bring it up to current standards. Current inventory is littered with homes in less than desirable condition.

With so many buyers looking for their dream home, and a huge shortage of dream homes, it’s a fantastic time to get your house sold for the very best price. When looking for a real estate broker, interview, ask a lot of questions, and get informed. Paradise Sharks LOVES to interview for the opportunity to earn your trust, your business, and your friendship. We are now in our 7th year here in Tequesta and have decades of real estate experience. Paradise Sharks has removed the middleman from the real estate transaction and offers our “let’s set a record price” marketing packages for total commissions as low as 4%. Most of our buyers get significant credits at closing as our little way of saying thank you. You can always pay more for real estate services, and receive less, but that just wouldn’t make any sense.


Fins up…..


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#jupiterrealestate

When you look at what the average single family home in Jupiter costs these days, you would think nothing about the industry gets less expensive year after year. But, in the case of real estate commissions, they have now fallen for 10 straight years. In 2010 they fell. In 2011 they fell. In 2012 they fell. In 2013 they fell. In 2014 they fell. In 2015 they fell. In 2016 they fell. In 2017 they fell. In 2018 they fell. And once again in 2019 they fell again. Odds are high they will fall again in 2020.

Back in 2009 about 77% of single family home sellers in Jupiter paid a total commission of 6%. Last year that number had fallen to about 25% and the biggest question is, why are so many still agreeing to pay a 6% commission. The usual answer is the seller did not take the time to interview and ask questions. To get educated, instead of sold.

When deciding upon a broker to team with, you should really focus on 3 main areas. Trust, customer service and value. You certainly need all three to ensure your experience is a pleasant one and you pay a fair price for the services you receive. It will also help ensure you sell your home for the highest possible price.

There are more realtors out there than ever before, which means there is a whole lot of inexperience. There are a lot of brokers who will try to convince you that if you do not pay a higher commission you will not get professional representation. Recently, Paradise Sharks interviewed with a seller who told us they wanted to pay 6% because another broker told them nobody would show their home if the co-broke commission was not 3%. We got the listing. On the first weekend, we had dozens of showings, multiple offers and closed on the home within 30 days. The client paid a total commission of 4.5%.

Ask to see what their last 6 listings looked like on line. Closely look at the pictures. Read the written description of the home. Did they draw your interest and make you want to learn more? If not, you might keep looking as well over 90% of buyers are shopping on the internet prior to calling a realtor. If your home is not properly presented online, the odds of getting top dollar go down significantly. Ask if you could speak to those clients and get their feedback of the selling experience with that broker. It’s easy to do and it can save you many thousands of dollars.

You want to make sure the broker’s customer service is excellent. Selling a home is truly a team effort and you want to make sure your teammate communicates effectively. Call them. If they do not answer, leave a message and see how long it takes them to return a call. You would be shocked at how many won’t get back to you expeditiously, if at all. What kind of updates can you expect during the listing period? Can they help you ensure the house shows its best both in professional photos as well as actual viewings by prospective buyers. Will they be present at showings? What do they do to obtain feedback? What will they do if you are not happy with their services? How will they communicate with you. Will they allow you to cancel any listing agreement if they are not meeting your expectations? Why not? If the house sells in the first week do you get a credit? If your broker handles both sides of the sale do you get a credit? Ask questions. Get educated, not sold.

Value is not about the lowest commission, as without quality marketing and representation you won’t get the highest sales price. When interviewing, ask if the broker has set any record sales prices for their clients and what they did to make that happen. Look for value. Fewer and fewer sellers agree to pay a 6% commission. Most brokers these days will accept a 5% commission. Many brokers can provide even lower prices. Everything is negotiable. 

Most of all, make sure you trust the broker you decide to hire. If you can’t look them in the eye, believe what they are telling you, and get that warm and fuzzy feeling you might keep looking.

Paradise Sharks is a unique brokerage and loves to interview and make sure you make educated decisions. We have decades of experience, both in construction and sales. More importantly, we do not have middlemen costs like franchise fees and brokers splits and pass those savings back to our clients. Our “let’s set a record sales price” marketing programs are available at total commissions as low as 4%. Most of our buyers get significant credits at closing as our little way of saying thank you. If you are doing real estate anywhere in Palm Beach or Martin County Paradise Sharks would be honored to interview and have the opportunity to earn your trust, and your business. Complimentary consultations are easily scheduled at 561.308.0175 of tom@paradisesharks.com.


Fins up……

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#realestatecommissions

The Jupiter, Florida lifestyle is world class and even though this list could be much, much longer we wanted to share some of our secrets with those who might be visiting for the very first time. If you are here for a week there is plenty of time and you will leave very satisfied and amazed.


In no particular order here are 10 things that should be on your “must do” list while in Jupiter this season;

Watch the sun come up at Coral Cove Park – head over the south bridge to Jupiter Island, make the corner heading north on Beach Road and soon you will hit Coral Cove Park. Sure there is about 600 feet of Intracoastal Beach on the Indian River but you will want to make your way to the 2,600 feet of beachfront playground along the Atlantic Ocean. You want to get up early and be on the sand about 10 minutes before the sun rises. Bring chairs, bring Bloody Mary’s, bring mimosas, bring a croissant, bring whatever you want, but set a spell. The sea is a magical place and watching a new day dawn among the limestone formations is a spiritual experience. Bring your suits and spend some time as life truly does not get any better.

Snorkel under the bridge to Jupiter Island – Our inlet is so full of life, those who do not take the time to look under the water are missing so much of what Jupiter is really about. Once again you will want to take Bridge Road over to Jupiter Island, but this time stop short of the bridge and park on the shoulder. Walk down to the river from the south side of the road and again bring your chairs, towels, suits, music, snorkels, and some frozen daiquiris or margaritas. Yes, tequila and rum are part of the Jupiter lifestyle. You are at Cato’s Bridge that is definitely old Jupiter. Just act like you know and you’ll fit right in. Get to know the tidal schedule as you want to go while the tide is coming in, about an hour or two before high tide. The water will be it’s bluest for the next few hours and your best snorkeling will be during the slack tide. The last time we were in the water here a huge manatee swam inches from my face. Watch the kids hanging and dropping as the draw bridge goes up. A little slice of “old school” Jupiter, and that blue water which is a huge part of what Jupiter is all about. We use the Tides app for the most accurate information on the tidal schedules.

Happy hour and dinner at Schooner’s – OK there are many dining options for you to enjoy in Jupiter but the food and ambiance here is what Jupiter is all about. Boutique seafood restaurant that is one of the longest operating restaurants in Northern Palm Beach County. The Jupiter location is amazing and make sure you arrive early for a drink or two at the outside bar where you can soak up the excitement going on in the Inlet Village. The food is enticing and delicious, as is the vibe. We think great food is a huge part of living in Jupiter and Schooner’s is what “old Jupiter” is all about and a top choice for an evening out. Uber there, drink a lot of margaritas, eat some of the freshest fish in town, and Uber home.

Canoe the north fork of The Loxahatchee River to Trapper Nelson’s – do this to experience what Florida once was. Start this journey at Jonathan Dickinson State Park that you will find on US1 between Jupiter and Hobe Sound. An incredible state park to explore but you want to go rent a canoe, or if you want to be a little less active there is a boat tour on the Loxahatchee Queen. If you want to be more active rent a paddle board. Everything you need is right here. Spend the day and head up to the end of the river at Trapper Nelson’s camp. The beauty, the history, this is old school Jupiter that too few ever see but maybe that’s a good thing. If you like to read then pick up a copy of Life and Death on the Loxahatchee. If you have the opportunity, read it before you make this trip. Highly recommend spending a few hours experiencing this amazing location.

Check out the turtles at Loggerhead Marinelife Center – the turtles are a huge part of life here in Jupiter and a visit to this Juno Beach institution should be on your agenda while in town. AMAZING organization dedicated to the conservation of ocean ecosystems with a special focus on threatened and endangered sea turtles. They save turtles, they protect their nests, they even have eco adventures and enough programs to keep you busy for days. Stop by, check it out, and see what these people do daily to improve our sea, our world and the world of turtles. If you are a donating person then here is a group that deserves you digging into your pocket as this is a special place filled with special people.

High tide at Blowing Rocks – get out the Tide app from your snorkeling adventure as you want to be here as we reach high tide. The Nature Conservatory has spent well over 50 years protecting great places in Florida and Blowing Rocks at high tide must be seen. Similar, but far more grand, to the limestone formations you saw at sunrise at Coral Cove can be found here. Incoming water is forced through these formations and you are going to want to get your camera out as the plumes can reach 50 feet and higher. Bring your chairs, enjoy the show. It is a good one.

Cocktails and a little live music at the Square Grouper – We love to enjoy life and part of that is a cold drink, water, sand beaches, tiki huts and live music. No place do these things come together in a better mix. Alan Jackson filmed the music video to his massive hit “It’s Five O’Clock Somewhere” here and that is all we truly need to say. Things have changed since then and to me bigger is hardly ever better but they have done a great job of keeping this the best little (but bigger) bar in paradise. If The Helmsmen are in town and you can catch them they too are part of what is really good about the new Jupiter Florida.

Lunch, dinner, anything at Captain Charlie’s Reef Grill just down A1A in Juno Beach  – Head down to this landmark restaurant that remains pretty much how it has been for years and years. Ross has blessed us with this treasure by the sea that we hope never changes. Have the peppered blueberry tuna please. Nothing can tell you more about this funky place with amazing food than this Check Please episode featuring a younger Paradise Shark. Old Jupiter just doesn’t taste any better.

Hang at the inlet in Dubois Park – on the south side of the Jupiter Inlet this is the place to reflect on life and the Jupiter lifestyle. Watch the boats come and go in what can be a very treacherous inlet. Look over to Jupiter Inlet Colony, swim in the lagoon but the best thing is to grab a seat, watch the boats, watch the water and relax. Life is indeed very, very good in Jupiter.

Moonrise on Jupiter Beach – Nothing defines Jupiter more than our beach. Truly one of the most beautiful undeveloped stretches of sand you will find anywhere. Find a night the moon is rising after sunset by at least 1/2 hour. You will once again want your best beach chairs and some very good red wine. Spend a few hours, be thankful for what the good Lord has provided us. Decide right then to get involved and do your part to protect this amazing earth. We hope our Jupiter Town Council does their share here on the local level. If you feel like another donation then the Friends of Jupiter Beach is another most worthwhile organization. If you are here on a weekend they are doing a beach cleanup then go and make some new friends. If they are here they love Jupiter, are amazing people for giving back, and a big reason Jupiter, Florida is so very, very special.

Jupiter, Florida is an amazing place to visit and if you can get in as many of these as possible you will enjoy yourself even more. Jupiter is an even better place to live. Paradise is a choice and it you want to look into a more permanent place in the Florida sun Paradise Sharks would love to help educate you on your options. After decades of doing nothing but real estate we opened our own brokerage 7 years ago. 
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Our boutique company has kicked the middleman out of the real estate transaction and we pass those savings directly to our clients. Paradise Sharks sellers enjoy total marketing packages that start as low as 4% and our buyer’s typically get substantial credits at closing as our little way of saying thanks. We publish weekly articles on the local real estate market that you can always read at tompriester.wordpress.com. Reach out to us anytime at 561.308.0175 or tom@paradisesharks.com. We love Jupiter and hope you will too. If you tell us you read our Top 10 list we would be happy to meet you for margaritas at Schooners. Not only will we educate you on the local real estate scene we will divulge our favorite thing to to that we left off this list on purpose. Even sharks need a secret spot to get away from it all!


Fins up…….




#jupiterflorida

It’s a new day, a new year and a new century. For a Jupiter real estate market that has appeared to hit the pause button, things are about to get interesting. Welcome to 2020 and we are now just 2 weeks away from what we hope is a strong take off for real estate sales in the Northern Palm Beaches.


2019 was another good year for home prices, and the median prices of both condos and single family homes, were up again for the 8th straight year. The number of single family sales were basically flat for the 3rd straight year, while the volume of condo sales dropped to the lowest levels we have seen in 7 years. Interest rates, have been moving higher, but still are low from a historical perspective. Inventory is poor in many neighborhoods and price points, and will impact the market significantly this season. Education will remain a key factor, whether you are selling or buying real estate, over the next few months in the Jupiter area. 

As of January 1st, the number of homes on the market for buyers to select from fell over the past 30 days and remain 11% below last year’s numbers. Limited inventory should be a factor that helps push prices higher from today’s levels. If demand heats up, the economy stays strong, it is hard to see prices doing anything but moving higher over the winter and spring months here in the Northern Palm Beaches.

Pending home sales dropped 14.5% during December, and that was in line with expectations. The number of homes under contract is 12.5% higher than last year’s numbers and if we see typical buying patterns emerge in January, prices should start climbing. Especially in the condo market, as single family home sales lag condos by about 30 days as the buying season kicks off.

Paradise Sharks is proud to be starting our 7th year in business and is committed to another year of bringing you the most accurate information each week on the local real estate market. Our mission remains to provide our clients with the best service in the industry at value much of our competition can only dream about. Because we are unencumbered by typical middlemen expenses, like franchise fees and broker splits we simply can do more, for less. It really is as simple as that. We insist on old fashioned, high quality, customer satisfaction and if we ever don’t do what we say, fire us. We have never been fired.
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Paradise Sharks “let’s set a record price” marketing packages start as low as 4% and the majority of our buyers receive significant cash credits at closing. If you would like to learn more, or if we can be of assistance in any way, please feel free to contact us at 561.308.0175 or tom@paradisesharks.com.


Fins up……




#jupiterrealestate

As we approach the end of another year, and another decade, the condo market in the Northern Palm Beaches is hoping for strong seasonal sales to get things moving early next year. Sales of condominiums just hit the lowest 30 day total we have seen in 23 months. Compared to year ago numbers, condo sales in the Jupiter area, were down a rather dramatic 18%.

Thankfully, we are just about 3 weeks from the date seasonal condo buying historically picks up in earnest. Attractive mortgage rates, and more forgiving loan options for condo buyers, should be helpful. So should resale condo inventory levels that are up again for the 4th straight month. However, the number of condos on the market still lags year ago numbers and the condition of many units is suspect.

A bigger problem for buyers will be acceptance of prices set by seller’s asking too much when compared to market conditions. The perception of many is condo prices are moving higher, but that hasn’t happened locally. Over the past month, median Jupiter condo prices, and those in the neighboring communities, were unchanged at $245,000 and sit at the lowest levels we have seen in 8 months. Compared to year ago numbers prices are up 6.5%.

While we have a few days left in 2019, we know that condo sales in the Jupiter area this year will be the lowest we have seen in 7 years. Median prices will be up again for the 8th straight year. While single family home prices long ago set new all time records, median condo prices in the area still lag 2005/2006 record highs by 12.5%. 

Affordability will remain a real challenge to the Jupiter area real estate market next year. The reality is new construction in the Northern Palm Beaches is expensive and affordable entry level product is extremely scarce, if not non-existent. The economy, and hate filled political climate, facing America are significant concerns to the real estate market moving forward. If you care about your homes’ value you better pray the economy keeps growing.
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In the short term, limited inventory, favorable borrowing costs and seasonal buying activity should help pull prices higher, but economic news needs to stay strong if we are to see a 9th straight year of rising Jupiter condo prices.
Paradise Sharks is proud of another year, our 6th, keeping you informed about the true condition of the real estate market in the Jupiter area. This is our very last weekly market update of 2019 and we are truly looking forward to another year helping our clients with world class marketing and customer service at prices that most of the competition can only dream about. If Paradise Sharkscan ever be of help in any way, complimentary consultations are super easy to schedule at 561.308.0175 or tom@paradisesharks.com.


Fins up……




#jupitercondoprices

With the height of “snowbird” season just around the corner, the Northern Palm Beaches real estate community is hopeful that demand for resale home purchases will be strong enough to prod prices to climb from what appears to be a stalemate. Over the last 8 months in Palm Beach Gardens, and the neighboring communities, home prices have done nothing but tread water. Median prices for both single family homes and condominiums are virtually unchanged since way back in April.

Pending home sales are down again, for the 8th straight month of declines. Over the past 30 days, the number of homes put under contract in the Palm Beach Gardens area is down 4.3%. More importantly, looking back at year ago numbers pending home sales are down 11.2%. With numbers like these, it’s important for sales to perk up as we typically expect this time of year.

The main problem is, inventory is not good. The number of home buyers have to choose from was up for the 3rd straight month, however, compared to year ago numbers current inventory is down a substantial 9.6%. The fact that condition is a significant issue for many of these listings, only compounds the problems.

Over the past three months, home sales in the Palm Beach Gardens area have not been strong. Single family home sales are down 4.3% compared to 2018 numbers, while condo sales are down a rather dramatic 13.6%. We continue to see the best new opportunities get snapped up very quickly, which shows there just isn’t enough well priced inventory, in good condition, hitting the market.

Economic news continues to be bullish and we are blessed to live in an area with very strong demand at the top end of the market. This demand typically kicks into high gear with condo buyers about January 15th, with single family demand picking up about 30 days later.

If you are looking to sell your home, your timing may never be better, Single family home prices are still near all time highs, interest rates remain near all time lows, and buyers have been blessed with the strongest economy this country has seen in many, many years. It should be a great season with prices being pushed higher, but without product to sell we may have a slower year that we typically expect.

Your home is a valuable commodity, and with low inventory you can strike your very best deal on commissions, while still demanding world class service. Paradise Sharks has our full service marketing packages available at total commission packages that start as low as 4%. Our consultations are complimentary and we look forward to showing you why paying higher fees isn’t necessary. If we can ever answer any real estate questions, or be of help in any way, you will find us easy to reach at tom@paradisesharks.com or 561.308.0175. Most real estate brokers don’t want you to know that it is a small minority of sellers agreeing to pay 6% commission these days and that 5% can be handily beat in most instances. To get the straight scoop on real estate feel free to reach out to us anytime.


Fins up…..




#palmbeachgardens

Thankfully, December is well underway as we draw closer to what we hope will be a red hot real estate sales season here in the Northern Palm Beaches. The first few days of the month have shown us stronger sales than we expect this time of the year, but it’s still early. Heck, Santa Claus still has 19 days to prepare for his big day.

Looking forward is great, but we always look back as it helps us understand where we are going. For single family home sales in Jupiter, and the neighboring communities, November sales were lackluster. Closing volume was down 28.3% over October numbers and 13.1% below year ago numbers.

Slowing volume tends to put downward pressure on prices and that is what we saw in November. Median single family home prices in the Jupiter area pulled back $5,000 and sit at $500,000 as of December 1st. This leaves median single family home prices at the exact same level as 7 months ago. Year over year prices are up 5.3%.

The fact December sales have started with some strength may be in part due to slow November sales. No doubt the lack of inventory is part of the problem, as is affordability. Interest rates this morning were within one basis point of three year lows and strong economic news out today are both positive forces.
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If you are contemplating any real estate decisions in the weeks ahead, seek education. Informed decisions are the best decisions. Mistakes are costly and if Paradise Sharks can ever be of help in any way you can easily reach us at tom@paradisesharks.com or 561.308.0175. We have been doing nothing but real estate for almost 40 years and our boutique brokerage is getting ready to kick off our 7th year of bringing higher levels of customer service and lower prices to clients throughout Palm Beach and Martin County. As we always say, you can pay more, and receive less, but that just doesn’t make any sense.


Fins up……


#jupitersinglefamilyhomeprices

The Jupiter real estate market is approaching a defining moment, as we inch closer to the start of our home buying season that historically kicks off about January 15th. On many fronts, it looks to be a banner season with interest rates and unemployment near all time lows, while wages and new job creation keep hitting new all time highs. The Northern Palm Beaches real estate community should be licking their chops.

However, there is a serious problem, as inventory is already at historic lows with no signs of getting better. During November, the number of homes on the market for sale in Jupiter, and the neighboring communities, did rise as we expected. However, that increase was a modest 3.7%. Our current inventory levels are 14% below year ago levels and we have to go back well over a decade to find lower inventory levels on December 1st.

The lack of options for buyers, especially at the lower price points, is of true concern and not bound to improve in the near future. December is not a month we see a lot of new listing activity as potential home sellers prefer to enjoy the holidays without a stream of buyers spoiling the festivities. We can pretty much guarantee you that a month from now, when buyers are ready to buy, there will be even fewer options for them.

New construction in the Northern Palm Beaches remains very expensive and out of reach for many buyers. With few quality options, buyers are frustrated, and as of December 1st, pending home sales are down for the 7th straight month. November’s fall was barely measurable, but watch for a more significant decrease this month as home buyers tend to take the holidays off as the lack of new listing activity means little to grab their interest. There is some good news, as on this December 1st there are 11.7% more homes under contract than year ago numbers.  
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If your homes’ value is important to you, keep your eyes and ears open in the months ahead. While million dollar home sales in the Jupiter area will set another all time record in 2019 we have seen weakness in resale closings over the past 4 months. However, many buyers at the top end of the market are building and we have never seen the volume of custom homes under construction as we see today. Watch inventory, prices and sales in your neighborhood closely and if you ever need help understanding what the numbers really mean, feel free to contact Paradise Sharks as we are here to help. You will find us easy to reach at 561.308.0175 or tom@paradisesharks.com. Our passion is always to serve our clients and their needs and we look forward to being of service.


Fins up……




#jupiterhomeshortage

As of November 15th, the median Jupiter condo price, and those in the neighboring communities, was down again for the third straight month. In fact, that median price today is lower than anything we have seen since way back in April. Today’s median condo price in the Northern Palm Beaches is $245,000 down from $246,375 a month ago. But, hold onto your seats, as condo prices are poised to move higher. And that move may be significant.


If you are looking to buy a condo, your options may not be great, but condo inventory in the Jupiter area has climbed significantly. In fact, over the past 90 days, local condo inventory has climbed a dramatic 16%. With prices down, and getting ready to climb, you may do your best to find that perfect home prior to the end of the year. You can save even more money if Paradise Sharks is your broker, as we give all our buyer clients significant credits as closing. You don’t even have to ask, we just do it. If you want to learn more about this buyer friendly program reach out to us anytime at tom@paradisesharks.com or 561.308.0175. Paradise Sharks LOVE to help our clients make informed decisions and save them lots of money at the same time.

Condo sales in the Jupiter area over the past 30 days were up for the third straight month but compared to last year they were not good. In fact, 2019 sales were down 19% from 2018 numbers and that is a little concerning. Some of it is related to poor quality inventory. Some of it is related to seller’s asking too much for their condos. Some of it is fear in what we are watching going on with the political divide here in America. 

If you are considering selling a condo, you better get properly positioned and understand the historic buying cycles here in the Jupiter area. To hit the “sweet spot” of the market you will want to go live on the Multiple Listing Service on Monday, January 13th. Interview brokers, get informed and ask a lot of questions. Invite Paradise Sharks to interview and you will learn that our decades of experience and boutique culture can provide our world class “let’s set a record sales price” marketing for total commissions that begin as low as 4%. If Paradise Sharks ever does not perform as promised, we insist you fire us. We have never been fired.

So, why are we so upbeat and believing that prices are moving higher. The real answer is we study the market and know the numbers more than any real estate broker we know anywhere. We know that single family home prices have already started moving higher. We know condo financing is easier than it has been for over ten years. We know condo sales are going to pick up dramatically on January 15th and have their best 6 months of the year after those sales start hitting the closing table. We know increased demand puts upward pressure on prices. Next month we may see prices still flat and maybe even a bit lower, but after that watch out as they will be heading higher. 

Certainly, a major economic event could derail the real estate market but we are hopeful that the current administration can keep this economic resurgence going and that will be very bullish for real estate here in the Jupiter area.
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If you ever have any questions about your real estate situation, Paradise Sharks is here to help. No obligation, no contracts to tie you down, and a strong desire to provide an amazing real estate experience at the best prices you will find anywhere.


Fins up…..




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