Welcome Back to another Jupiter Real Estate Report brought to you by Preferred Residential Properties. Hurricane Arthur gave us a little weather, but everything in Jonathan’s Landing made it through OK and summer is back in full swing here in Jupiter. This week I’m going to talk about some of the latest numbers regarding real estate in Jupiter Florida, including new milestone hope prices in Palm Beach County, median home prices on the rise, and an unusually strong start to our summer.
Without further ado, here are the latest Jupiter Real Estate facts and figures.
We’ve hit an interesting milestone here as the median home price in northern Palm Beach County has hit the $400,000 mark. We are still trailing the high water average mark set in 2005 at $485,000 but we’ve made a steady recovery since our recent lows of $350,000 in 2008.
These median home prices have appreciated 12.3% year over year and much of our inventory is at the lowest levels we’ve seen since last November. Depending on your needs there are several quality homes available in the Jupiter-Tequesta area but the amount of options might be a little lower than usual.
In fact, despite the low inventory, home sales have actually done very well thus far into summer. Typically a slower season, sales this month clocked in 290 single family homes in the area, slightly down from last month but up over 20% year to year. Single family home sales are strong in the Jupiter area and this could come from a variety of factors including increased confidence and continued low interest rates.
Thanks for checking out our latest Jupiter Real Estate Report. As usual, I’ll keep an eye on the latest numbers and be sure to let you know as soon I find anything significant. Until next time…