Juno Beach Condo Sales remain Unchanged for 3rd Straight Month
Another very interesting week on the front lines in the south Florida real estate market. Of note is a significant increase in foreclosures in Palm Beach County, the continuation of declining inventory levels and interest rates that remain at all time historical lows. We also say goodbye to Steve Jobs who made a bigger impact on our technological world than anyone; as I type this blog on my MacBook while listening to music on my iPod. We tend to see the market through our own eyes and thankfully I am as busy as ever and most interested in sitting down today to pull the final September sales figures and see where we stand. Last month our real estate sales power rankings ended up like this;
#1 Juno Beach unchanged
#2 Jupiter down 6%
#3 North Palm Beach down 18%
#4 Palm Beach Gardens down 21%
#5 Hobe Sound down 24%
#6 Tequesta down 31%
Overall we saw a softening of sales when compared to the numbers we had last month although not all municipalities showed a decline. In September we saw very high levels of $1,000,000+ home sales and these too slowed considerably. Median sales prices when compared to September were relatively flat with 3 markets showing increases and 3 showing declines. We continue to be inventory challenged with my biggest challenge is finding well priced homes in good condition to meet my buyers expectations.
This month’s top dog in our sales power ranking are condominium sales in Juno Beach that remained unchanged from the previous month. Not one of our larger markets but one we like to keep a pulse on as as waterfront condos go so generally does the overall market. Still we remained stead with 3 sales compared to 3 in August. We did stay below the 12 month average which stands at 5 and also behind the 4 condos that sold in September of last year.
While sales levels remained flat they were spread in 3 different price categories including one in the $1,000,000+ category which is nice to see and we hope that this is a trend that can pick up some steam this season. The chart below shows the percentage of sales by price category for the month of September.
With 2 of the 3 sales in solid price ranges range we would expect to see the median sales price stay fairly strong and that is what it did. We actually saw a nice increase in median price to $385,000 from the $330,000 we saw the previous month. We were way below the $637,500 median price we experienced in September of last year but this is the highest monthly total since way back then. This showing kept us well above the 12 month average of $283,688. Foreclosures continue to put significant pressure on pricing and we saw a big jump in the auction numbers this week which is certainly concerning. The chart below shows median prices on a monthly basis over the previous 12 month period.
This crazy world of real estate is what I thrive on and nothing gives me more satisfaction than assisting other in finding that perfect home and negotiating the best pricing and terms or listing and marketing their current home to achieve the best results. Your free consultation is but a phone call away so if we can be of service in any way to you, your friends, family and colleagues please do not hesitate to give me a call. Easily reached at 561 308-1075 or via e-mail at tom@tompriester.com we are here to assist in any way that we can.
Always at Your Service,
Tom Priester e-PRO
"Results Driven Real Estate"
Keller Williams Realty
561 308-0175
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