Admirals Cove homes: First quarter update
April 1, 2016 | Richard Sites
Admirals Cove, Jupiter’s premier, waterfront community has had a busy 1st quarter in the real estate market. Let’s take a look at the numbers.
Right now there are 65 homes for sale in Admirals Cove. They range in price from just under $9 million to $419,000. There are 17 under contract.
The median price is $1.3 million but the average is $2.5 million. This is because there are 27 homes for sale under $1 million.
Harbor homes, like those in Spyglass and Waterside, are offer a more modest entry price point into the community but all sales of homes with existing memberships must include the membership with the sale of the home.
So, you could also spend up to $150,000 on a membership with your home purchase. When selecting a home, it is important to remember that you can upgrade a membership but can’t downgrade so you need to make sure the right home has the right membership.
In the first 3 months of this year, 15 homes have sold. The average sale price was just under $2 million or $479 per square foot. The median however, was $1,450,000.
As for time on the market, homes generally either sold within the first month or after 5 months on the market. It is interesting to note that in either category, sellers received on about 89% of their asking price, far less as a percentage than what is typically received for Jupiter homes.
The average home that sold had to reduce the price nearly 9% or about $200,000 to attract a buyer.
If you are considering a waterfront home in this area, let me show you the best Admirals Cove homes for sale for your family. The options are plentiful and unlike most agents I have lived here 25 years and know the market inside and out.