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Northern Palm Beach County real estate market remains dysfunctional
Inventory levels up to 6 month highs
Anyone looking to buy or sell real estate in and around the Jupiter area more than likely have a question about just what is going on. Some segments are doing very well with the best waterfront opportunities selling at record prices. We are seeing brand new record high sales prices in communities like Rialto and inventory in many communities near the beach is non existent. Many sellers are pricing their homes “ahead of the market”. Another record breaking “season” is already underway. Try and find a new single family home in the area for under $650,000. Good luck.
Sounds like a major bull market, right? Wrong.
Pending home sales have been down for 8 straight months. The median price of single family homes in the area fell from $431,000 to $395,000 over a four month period. They finally started to move higher as of December 1st. Median condo prices have not risen since June and look to be dropping even lower when we next release numbers in a couple weeks. Inventory levels are up over 11% since October 1st.
Sounds like we are in the middle of a dismal bear market, right? Wrong.
There is no easy answer ... more

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