Price Reductions: Jupiter Island, Loxahatchee River & Frenchman’s Creek
January 22, 2016 | Richard Sites
Some of the top luxury locations in our area had price reductions overnight. Of course, when pricing a custom, estate home it is often difficult to narrow the price to a small target area even with an appraisal. So after months on the market without a buyer, it is not unusual to see price reductions.
Buyers determine what the house is worth…not the agent nor the appraiser. After all, if they are ready to buy now they are looking at homes all day so they know what the competition is out there.
Buyers know more about the value of the home than the seller and maybe more than the agent or appraiser.
An oceanfront estate home on northern Jupiter Island with over 100 feet of Atlantic frontage just lowered the price to slightly under $6 million or around $1,200 per foot. It has a little under 5,000 feet of living space with 5 bedrooms and 6 1/2 baths.
Back on the mainland in Tequesta Country Club, a newer, riverfront home with near 6,000 feet of living space, 5 bedrooms and 6 1/2 baths just lowered the price. The home was built in 2015 and has 90 feet of Loxahatchee River frontage. The price is now under $5 million or $779 per foot.
A little further south in Frenchman’s Creek, a 25 year old house with 200 feet of water frontage just lowered the price to $623 per foot or $2,799,000. Frenchman’s is the only one of these locations with a mandatory membership.
If you are looking for a waterfront property in the Jupiter area, there are plenty to choose from Right now, there are 96 homes for sale over $2,000,000. Let me show you the ones that would fit your lifestyle best. You can contact me directly at 561-762-4073 or use the form below.