Foreclosures in the Jupiter real estate market between $300-$500,000
August 13, 2015 | Richard Sites
Homes for sale in Jupiter sell at higher prices than most other Palm Beach County homes for sale. Typically, the $300,000 – $500,000 market is our most popular price range. Right now, about 17% of the homes for sale in Jupiter and Tequesta are in this range (196 homes).
But what about foreclosures?In some areas of Florida, like Coconut Grove, all the foreclosures are gone. And while the supply has certainly dried up and all the “low-hanging” fruit has been picked there are still some bank or gov’t owned properties out there.
Of the Jupiter homes for sale, 11 of the 196 or nearly 5%, are clearly bank owned. The median price for these houses is $383,000 or $207 dollars per square foot.
If you are still looking for good deals in foreclosures, they are out there but they need work. A friend of mine recently picked up one in Tequesta for around $ 380,000, put about $65,000 into it and sold it for near $ 500,000.
If you think it makes sense to have a conversation about the Jupiter real estate market, you can use the form below or contact me at 561-762-4073. Unlike many agents, I have lived here for 25 years and know the market inside and out.