Housing inventory in Jupiter’s Funky Fishing Village is only 2.6 months
With only 4 active listings, potential buyers of real estate in close proximity to Jupiter’s Funky Fishing Village, do not have much to choose from. Based on 12 month sales figures the available inventory signals a seller’s market with prices under pressure to the upside. Way upside.
Just how “hot” is real estate in the Funky Fishing Village you wonder. How about that wonderful 55+ community on the inlet where we had 2 sales over the past year. Those units closed at $155,000 and $157,000. Certainly a new listing at $215,000 would get a little pushback at a price 37% above the highest priced recent sale. Some pushback, as it was snapped up in the first day after multiple offers and a highest and best situation.
Maybe prices aren’t moving that fast in Jupiter River Park, where you do get the land under your mobile home? Unlike Suni Sands, where residents have already been told it’s time to get out. Across A1A it’s a different story as a developer is going to have to make a solid pitch of big money to ever get anything done there. Until then if you want your own mobile home in Jupiter’s Funky Fishing Village it is going to cost you. Over the past year we have had 3 sales ranging from $155,000 to $175,000. Only one unit for sale and it is already under contract so you’re too late. Oh, and by the way it was listed for $275,000 or 57% above the highest price sale over the previous 12 months.
It’s funky. It’s hot. And the best is yet to come. Last year, the highest priced sale in the district closed at $390,000. Fast forward and we have a trailer that is about to close at a quarter of a million dollars. And the best is yet to come.
The centerpiece of the new and improved Jupiter’s Funky Fishing Village is going to be right where those Suni Sands residents are being evicted by the new owner. Charles Modica paid about 17 million dollars for the property back in 2013. It is similar to Jupiter’s Harbourside Place as both parcels contain about 10 acres and both projects involve investments of well over 100 million dollars. You think that Harbourside Place changed the “feeling” of Jupiter? The roadwork we are dealing with now along A1 is just a sign of what is coming. It’s going to be big. Really, really big.
Look for a project containing a residential element that will leave the recent highest priced sale of $390,000 and quarter million dollar trailers in the dust. Current plans are for a dozen key west cottages and of course another 220 room hotel.
Paradise Sharks loves Jupiter’s Funky Fishing Village and we have even secured www.jupitersfunkyfishingvillage.com. We plan on developing a site to bring you the latest news as it happens in the Village. If you want to be the first to know of new real estate opportunities in the area please feel free to reach out to us at 561.308.0175 or tom@paradisesharks.com.
Fins up.....
Tom Priester
Principal Broker
Paradise Sharks Real Estate
561.308.0175
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