Market poised for boost from seasonal visitors
The last time we saw the median condo price increase in the Jupiter/Palm Beach Gardens area was way back in June. Sales have actually been quite strong when compared to the single family market but well priced inventory in good shape is hard to find.
As of November 15th, the median priced condo in the Jupiter area has pulled back to $200,000 from the $205,000 we sat at 30 days ago. Even tracking very short term trends we are not seeing any upward movement. The good news is we are still 5% above year ago numbers and appear to be holding at this threshold. Look for that to change in the coming months because if the snowbirds are going to buy prices should rise. The question is will they find units they want to buy and what are they willing to pay.
If you are thinking about buying or selling a condominium unit make sure you have complete information on that individual property so you can make an educated decision. Get educated, not sold. Buyers need to be positioned to react immediately to any new opportunities while sellers should position themselves to take advantage of any spikes the winter traffic will bring. If you need any help please feel free to reach out to Paradise Sharks at firstname.lastname@example.org.