Jupiter real estate: 20 new listings overnight
January 16, 2016 | Richard Sites
The real estate market is certainly a dynamic one in Jupiter. In the last 24 hours, 20 new homes were listed in Jupiter and Tequesta, 3 are back on the market, yet only 3 closed.
Mike Ferry, who is one of the most respected voices in the industry, said about 15 months ago that the current market at that time could only last about another 18 months. And he was right. Only a couple of months ago the inventory of homes for sale in Jupiter and Tequesta stood at 702. Now, there are 842 for sale.
And there are almost as many price reductions as new listings. Yesterday, I posted on a $3 million dollar reduction in Ranch Colony.
So what does this mean to you?
If you are a buyer, you will have more homes to choose from. But homes are still selling quickly. For homes sold in the last 30 days, the average days on market is about 6 weeks but the median is only 33 days. So be sure you have your financing in order. And with the new CFPB rules, this is even more important.
If you are selling a home, the competition is getting stiffer. So make sure you choose the right agent to market your home.
If you think it makes sense to have a conversation about how to take advantage of this market use the form below or contact me directly at 561-762-4073. I have lived here 25 years and know the market inside and out.