Jupiter Homes for sale Information
Jupiter Condos
It has been two weeks since my last Jupiter Report and we continue to see home sales remain strong with 53 properties selling this week. It has been the strangest season I have seen in years and many buyers are thinking we are busier than ever when in fact just the opposite may be true in many cases. I spend more time trying to find properties just to show customers.
I continue to be flooded with buyer requests but this year it seems the buyers have come to the realization that the deals are gone. What is happening? Buyers are sending lists of properties they want to see before coming into town and by the time they get here many of the properties are under contract. The other scenario I’m seeing is they go out looking for properties and find a property they like. They think about it for a while then decide to put in an offer and the house has gone under contract or it has an offer. Buyers are becoming frustrated as they are seeing this happening to them. I had a customer say to me the other day I can’t believe how hard it is to buy a property here. Believe me it is the same in many other areas here in the County. What I’m doing is trying to show buyers other areas such as Hobe Sound, Stuart and Hutchinson Island where the choices are greater and the prices are less.
Jupiter Condo Rentals
The same problem is happening for rentals. Unless you want three months for season you will be hard pressed to find anything. Don’t even think about negotiating rental prices. You may want to take the first rental you find. I have already booked all my available rentals for next season and am looking diligently for more rentals. I have a list of renters but no available properties to show them. A few renters have thought about looking for different rentals for next season and many have just decided to stay put. Right now I can’t even find a summer rental in Jupiter Ocean Grande. Off season rentals are usually abundant.
What do we see coming down the road is the most difficult question. I think we will continue to see rising prices but I had originally thought a 3-5% rise but we may see another 10% plus this year. The demand remains so strong that buyers are deciding to purchase even if they aren’t ready because of the fear of rising prices and fewer choices. They are buying and putting the units up for rent for the next year or two which offsets their carrying costs and eliminates the fear of rising prices.
Along the beach the under $200,000 market has disappeared. Almost every 2 bedroom place along the beach is now in the $225,000 and up range. This will get you an original condition condo within walking distance to the beach. At the other end of the spectrum for higher end luxury condos with direct ocean views we have only a few choices. The least expensive direct Jupiter oceanfront condo is $1.1 million in Jupiter Ocean Grande and $1.6 million in Ocean Royale. Quite a difference from last season.
I’m telling buyers to find a few Jupiter home communities that they really like and start watching the communities. Many times I can’t even find a place in some of the communities to show them. Several communities haven’t had any places for sale in over 6 months. You may have to right a contract sight unseen and then fly down and decide if it is what you want. This makes you really have to trust the agent you are working with and they understand your needs.
