Jupiter Home Inventory Down 25% from last year
Jupiter Report December 31, 2011
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This week we saw home sales fall from 48 to 32 closings for the week. This is the last week of the year and overall it has been a pretty good year for real estate. Homes for sale in the Jupiter area have been level for the past 6 months and as of today there are 2148 homes in the Jupiter,Juno, Tequesta and Singer Island area I track each week for sale. Last year there were just above 2800 for sale and the year before there was roughly the same 2800 plus homes for sale. In the past year we have seen a 25% drop in inventory levels. Even with all the so called foreclosed homes sitting out there this area has seen a 24% drop of homes for sale. The biggest reason I feel is the strong demand for this area has caused the inventory levels to decline. Here are a few quick facts for you.
San Matera in Palm Beach Gardens is a $100,000 or less condo community with 640 condos in the community. There were 101 sales this year and now there are just 9 condos for sale on the market. This condos have high maintenance fees. 1 bedroom condos are $250 per month with 3 bedroom units above $500 per month. I let you figure out the math, but if 100 sold last year and only 9 are available for sale now what is this telling you?
The Bluffs is another good barometer I use for the beach area homes. There are 600 plus homes in this community. There were 31 sales last year and just 10 homes are for sale right now.
Ocean Walk a more expensive beach community of 200 plus homes had 13 sales this year and just 10 homes are for sale right now. This community starts at $500,000 and goes up. The Bluffs are $300,000 to $400,000.
Abacoa is always another good community for what the market is doing. Anyone who knows Abacoa knows is is a very large community and in Charleston Court there are just 2 townhomes for sale, Martinique has 1 and Mallory Creek 4.
As far as Abacoa homes for sale. The least expensive 3 bedroom is $330,000 and there are just 19 homes for sale in all of Abacoa excluding Valencia where homes start at $600,000 and go up.
I spent the past week showing beachfront condos and I am going to tell you there aren’t that many choices out there to buy. If I gave you $500,000 to buy an oceanfront condo you would be amazed at two things, the low number of condos with decent views and the amount of work many of the condos need.
In Juno Beach there are 12 condos for sale under $400,000 with ocean views and many are 2nd and 3rd floor units with peeks of the ocean. Not direct ocean views. There are 5 condos between $400,000 and $500,000 for sale and only 11 between $500,000 to a million. If you want to be directly on the sand and be in Juno Beach this is your choices. Not very many.
Top Ten Report
I added a few homes to my 10 best list this week.
101 S Seas Dr # 406 in the Bluffs South. Closest building to the beach, SE exposure, incredible ocean views from living room and bedroom. The best remodel I have seen in the Bluffs. Everything was done 1st class. Shows like a model! Must See!
5510 N Ocean Dr 22A in Water Glades on Singer Island. Beautifully remodeled with sweeping views both north and south up the coastline of Singer Island.
900 Ocean Dr # 502 in the Surf. Least expensive condo on Juno Beach with a direct ocean view. Only condo in the building for sale. The best pool deck on Juno Beach. Sit on the pool deck and you are elevated above the beach with great ocean views.
141 Seabreeze Circle- Walk to beach, shows really well with many upgrades. Reduced to $215,000. Best Value for a beach area townhome.
415 Juno Dunes Way – 3 story townhome with impact windows, nicely appointed and built in 2005. Walk to beach – Just listed. $ 372,000
Estuary Great 2 bedroom with loft area. 1 car garage. Hurricane glass on patio with beautiful golf course views. Unit is spotless with updates including new master bath and shower. Priced great at $299,000.
I also added one of my favorite buildings Ocean Royale. A 4th floor condo in the front building with beautiful ocean and beach views. 3 bedrooms and all the amenities. Just the right height and not to high. Don’t miss this condo. Reduced to $ 1,025,000.
Beachcomber ground floor condo, 3 bedroom condo with a carport. Step outside to the community pool and just 150 ft from the ocean. Take a look at this unit. Just reduced!
The Colony is back on the market. Best ocean views in Juno Beach. 1700 sq. ft of living space with glassed 15 x 30 balcony overlooking the best beach in the area. Reduced to $439,900.
Jupiter Ocean Grande #707 – Best view in the complex and the best condo/view under 1 million.
Click the link below to view each property in my
10 Best Report below.
I want to thank all my customers who bought homes this year and all my people that frequent my websites and read my reports each week. It has been a pleasure to help you and I look forward to another great year here in Jupiter.
Each week the Jupiter home sales report is done with my customers in mind. I hope the report assists you in being a more informed Jupiter home buyer and provides you with a wealth of information about the Jupiter real estate market.
