Sales of Juno Beach Condominiums Remain Flat in November

Juno Beach Condominium Sales Flat in November

After a very solid, but mixed, month of sales during October I was anxious to see how things panned out in November. As reported earlier in the blog interest rates are at record lows, pending sales were also very solid but mixed and we have seen a slight increase in inventory levels. There is no doubt that the lower inventory levels we have been experiencing have an impact on sales so let’s look at the final numbers for last month. During November our real estate sales power rankings ended up like this;

    #1 Juno Beach unchanged
    #2 Palm Beach Gardens down 12%
    #3 Jupiter down 20%
    #4 North Palm Beach down 27%
    #5 Hobe Sound down 44%
    #6 Tequesta down 60%

None of the markets we cover in this report showed increased sales in November which is the first time we have seem that for a long time. In fact, all but 1 of these markets showed a double digit decline from October levels. The market in some segments is very strong and finding homes for certain clients remains a very difficult task. Other segments still have a ways to go and we are hardly out of the woods when it comes to calling an end to the great real estate bubble. The overall economy certainly comes into play and it would appear that unemployment will remain a long term issue. Foreclosure activity in Palm Beach County has showed higher numbers over the past three months so the next few months will as always be very interesting to watch.

This month’s 1st place finisher in our sales power ranking are condominium sales in Juno Beach that were even with the level from the previous month. While this was the best we could muster in any of the local categories we follow certainly nothing to get excited about as sales have been slow in Juno Beach since June. In November we had only 2 sales which was the same as October and tied for the lowest level we have seen over the past 12 months. We also fell well below the 12 month average which stands at 5 and also tied with the 2 units that sold in November of last year.



While sales levels were very low they were also both below $300,000. With the low sales it would have been nice to see some more expensive units sell but we can hope for better now that the season is upon us. The chart below shows the percentage of sales by price category for the month of November.



With sales mainly in the lower price ranges we would expect to see the median sales price decline and that is what it did. We actually saw a significant decrease in median price to $217,500 from the $406,250 we enjoyed in October. With that showing we did fall well below the 12 month average of $305,458  and it was the 2nd poorest monthly total of the year. We did however stay above the median price sale of $157,500 we saw in November of last year. 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
tom@tompriester.com