Jupiter real estate: Market wrap up for November
December 1, 2015 | Richard Sites
Jupiter real estate continues to change as we head into the most dynamic part of our season. At the country clubs in the area, like Admirals Cove and Jonathan’s Landing, the last of the seasonal residents are arriving and club activities are on the rise.
So let’s take a detailed look at the November wrap up in the local market.
The real estate scene here is now dominated by new construction as the DiVosta homes in Sonoma Isles opened for sale on November 23. And this is not the only new construction project in zip code 33478, which is the area west of the Town of Jupiter.
Across S.R. 706, Indiantown Road, from Sonoma Isles, the Toll Brothers community of Jupiter Country Club continues to offer new estate homes and further west on Jupiter Farms Road, new estate homes are selling on the former site of the Burt Reynolds Ranch. This development is called Reynolds Ranch. BTW- His Intracoastal home just sold after several years on the market. It is the northernmost home on the Intracoastal in Tequesta.
At the end of November, there were 793 active listings in Jupiter and Tequesta. Of these, 176 of them are priced over $1 million. Of these million dollar homes, 128 are listed as waterfront properties although this might include lakes.
In the last month, 127 homes sold in Jupiter and Tequesta and the median price was $305,000. The median original list price was $325,000. During that same period, 257 homes were newly listed for sale in the MLS. If you have been following any of my blogs, you know that sales of homes in Palm Beach County just hit an 18 month low.
Of course, there are also “private sales” outside the MLS, like the recent sale of Olivia Newton-John’s home and these sale are not counted in the numbers.
Since new listings are now outpacing sales at a rate of 2 to 1, it might make sense to have a confidential conversation about how to take advantage of the season and move forward with your plans. And with next year’s election looming, the market may be completely different a year from now. You can reach me using the form below or for prompt, professional service call me directly at 561-762-4073.