Median Northern Palm Beaches condo prices remain flat

By
Real Estate Broker/Owner with Paradise Sharks BK3087579

7 months since last increase

Median condo prices in the Jupiter area continue to underperform their single family home cousins. Over the last 30 days condo prices remain unchanged and over 200 days have passed since we have seen an increase of any kind. When comparing today’s prices to year ago numbers we are still higher, but only by 5.4%.

 

Compare that to single family homes in the Jupiter area where median prices have been on the rise for almost 3 months and as of January 1st were 9.3% above year ago numbers. Watch for prices aboard to rise over the next few months as seasonal demand should held shore up what has been sagging sales numbers. We have to go back 22 months to find weaker condo sales and we still are counting on our winter visitors to help steer this ship on a better course.

 

 

 

Fins up.......

 

 

Tom Priester

Principal Broker

 

Paradise Sharks

561.308.0175

info@paradisesharks.com

 

 

 

#jupitercondoprices

 

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Rainmaker
582,184
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

Tom,
I find that condo buyers tend to buy them because they can’t afford a townhouse or single family home. Condo prices do tend to stay fairly flat.

Jan 14, 2016 09:03 AM #1
Rainmaker
514,381
Tom Priester
Paradise Sharks - Jupiter, FL
Paradise Sharks

David,

Hope all is well with your market. Condos here in paradise are not only for those who cannot afford a town home or single family residence. They come in many flavors and over the last year we had 100's of condos sell for well over $1,000,000. The top price paint for a condominium through the real estate community topped out above 16 million.

Historically condo prices here are much more volatile than single family prices. As of today, median prices for condos in my market area are still over 30% below the market highs of 2005/2006. Median single family home priceas only lag their historical highs by about 9.5%.

We are just starting off what should be our busiest 3 or 4 months of the year. It's going to be another interesting season.

 

Fins up..........

Jan 14, 2016 08:11 PM #2
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Rainmaker
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Tom Priester

Paradise Sharks
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