Jupiter Real Estate Update

Jupiter Real Estate Update

Statistics for May 2020

Source | Florida REALTORS

Contact the Warner Team for more details and a complimentary home estimate.

As expected, in May, the real estate market in Jupiter, Florida, experienced a sharp decline in the number of closed single-family homes, townhomes, and condos. However, year-over-year, the median and average sale price for all property types increased. The median sale price for single-family homes was 4.7-percent higher than a year ago. Condos and townhomes experienced a 5.1-percent increase as well.

The number of single-family homes under contract and expected to close declined slightly, down 4.8-percent from a year ago, while townhomes and condos decreased by nearly 25-percent. Unlike the neighboring town of Palm Beach Gardens, Florida, cash sales dramatically decreased compared to a year ago. Single-family homes were down 68.6-percent, townhomes and condos were down 75-percent.

New listings of townhomes and condos increased 3.3-percent from the previous year, bringing the month’s supply up to 4-months, remaining way below the 6-month average. Year-over-year, both new and existing single-family home listings were down. In May, 30.7-percent of single-family homes were pending and expected to close soon.

With the tremendous demand for inventory and home prices on the rise, Jupiter homeowners are in a great position to sell. Indeed, it is a seller’s market.

Contact Us to find out what your home is worth in today’s market.

Or give us a call at 561-385-0938.

 

 

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