Welcome back to this month’s edition of the Jupiter Real Estate Report. This week we’ll be discussing a move in the inventory markets. Some unexpected news on the condo front, and some great momentum in the all-important single family housing market. If hard to believe but we’re gearing up for fall in Jonathan’s Landing already. If you’ve got any requests for local real estate information feel free to contact me through the blog and comment below!
We’ll jump right in with our 6 straight month of a decline in the total number of available homes in the Northern Palm Beach County area. So, while we’re not seeing a drastic drop off month over month, it does appear to be a trend that housing inventory is tight in the area. Great news for current homeowners, though it could mean potential home buyer’s are going to face increased competition for the available inventory of houses in the area.
On the condominium side of the equation we are seeing a drop off in the number of total sales for the second straight month in Palm Beach County. It could be our summer months are typically a little slower down here though this month number comes in 10.5% down year over year.
Markets are healthy in the area, more so than even the southern part of the county, so I’d keep an eye on the condo inventory
There is some unquestioningly good news however.
Northern Palm Beach County home sales are up 6% month over month, proving the single family home market is strong in the area. The median home price in the area was higher for the 8th straight month, another indication of market strength.
Thanks for sticking around and catch up with us soon for another Jupiter Real Estate Report.