Three new listings this week will help
It was about a week ago we had clients in town and as we discussed their needs one neighborhood we wanted to at least explore was the single family Bluffs Jupiter homes located beachside. We keep talking about the lack of inventory and when I sent them the only home that was available it was first listed back on January 9th. It had been through 3 price reductions and two brokers and was still sitting there after being on the market for almost 5 months. Not exactly much selection.
We ruled out that home, focused our search elsewhere and were able to find them a great opportunity. The Bluffs Jupiter single family homes are solid construction built by DiVosta in 1985 and 1986 in two different subdivisions: The River and The Ridge. If you are looking for variety this probably isn’t a good neighborhood as each home is pretty much the same with little variation. The biggest option was putting in a loft above the secondary bedroom next to the entry. Lots vary considerably with some having direct intracoastal frontage and we have seen these sell for well over a million dollars. For anyone seeking quality construction of a single family home within easy walking distance to the beach the Bluffs Jupiter homes are tough to beat at this price point. If the beach is where you want to be you need to explore this community.
We still see Bluffs Jupiter homes come on the market with original finishes but many have done some fairly incredible remodels which when done properly opens up the original galley kitchen to the great room. Over the past year we have had 46 Bluffs Jupiter homes sell and last week when there was only one active listing. Inventory was sitting at about one week. That’s crazy low inventory and shows you just how strong this market is.
Luckily, since then we have had three new listings hit the market so now inventory is back all the way up to 30 days. Still a very strong sellers market for Bluffs Jupiter homes with pricing pressure firmly to the upside. So far in 2015 the median price of a Bluffs single family home has been $469,000 which is up 13% from 2014 numbers. With demand like we are seeing expect those prices to climb even higher. We have a complete detailed analysis available for the Bluffs and know how to secure our clients the right opportunity so if we can be of any help please contact Paradise Sharks for a complimentary consultation.
Fins up.....
Tom Priester
Principal Broker
Paradise Sharks Real Estate
561.308.0175
www.paradisesharks.com
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