Loxahatchee River Homes For Sale: End of month update
November 1, 2015 | Richard Sites
As we head into our season it’s time to take a look at Loxahatchee River homes for sale and get an update. At the end of October, here’s what the market looks like.
There are 41 river homes for sale listed over $1 million dollars. These homes are on the main sections of the river. The most expensive is listed just under $9 million and is located on the west side of the river off Loxahatchee River Road.
Another of the homes on Loxahatchee River Road went back on the market this month for over $2 million more than it sold for just 11 months ago.
The median price for the active listings is $2.4 million or $548 per square foot. The highest per square foot price is $659. And the total of all riverfront homes for sale over $1 million is just under $117 million.
There are currently 7 homes under contract and the median per square foot price for them is $462 so you can see the current listings are still priced above the price point where the market is active when looked at on the per square foot basis. When there is a spread between the per square foot of the active listings and those that have gone under contract, the market usually slows down.
In the last 30 days, only 1 home sold and it was located in the subdivision of Loxahatchee Pointe. It took almost a year and a price reduction of nearly $450,000 before it sold at just over a $1 million.
If you live on the river and are thinking of selling, or trying to sell without success, take a look at these numbers. As the saying goes, the numbers never lie. There are plenty of buyers out there and they know what homes are worth. If the price you are considering cannot be supported by data or a professional appraisal, it is the wrong price. Remember, hope is not an effective selling strategy.
If you are looking at Loxahatchee river homes for sale let me show you the best locations. Unlike most agents, I have lived in Jupiter 25 years and know the market inside and out. Use the contact form below or call me directly at 561-762-4073.