June 2015 - June 2106
June 2015-2016 sales trends for the Jupiter market indicate a decrease of $24,450 (-7%) in median home sale prices over the past year (averaging all sized properties 1-4 bedrooms). This number is surprising to us, since we are seeing many buyers miss out on homes to other buyers, often by just mere hours. Combined with "nothing to sell" (low inventory), this suggests to us prices should be rising. The data is misleading, though. Median prices are actually up for 1, 2 and 4 bedroom properties. Only 3 bedrooms are down. Interestingly, the average price per square foot for this same period rose to $209, up from $198. We fully expect to see median prices go up over the next year, especially since the number of home sales is down dramatically. It will be interesting to see especially how 3 bedroom homes change.
Demand for homes is strong, but so is competition. Home buyers should be ready to pounce if they like something they see. This is not the time to look first and then get all your ducks in a row after. The best deals will be made by those who are ready and able. Getting pre-qualified before stepping foot in the first property is a key step to winning at the real estate game. Having the right agent? Well that goes without saying. A good agent can show you properties and write offers, but a great agent will know the market and successfully anticipate seller behavior. That is the agent who will negotiate the best deal for you.
If you, or anyone you know, is looking to buy or sell a home in Florida, please give us a call.
Peggy Berkoff, Broker/Owner
North County Properties
19510 US Highway 1, Tequesta, FL 33469