What a Difference a Month Makes
In June, month-over-month home sales increased 74-percent in the town of Jupiter. The number of closed single-family homes increased 45-percent, townhomes, and condos, up over 112-percent. Inventory levels have yet to meet what is a healthy supply (6-months) in over a year, and dropped from 3.8 the previous month, to 3.3 percent in June.
The median price (half of the properties in the area sell at a higher price and the other half at a lower price) increased 4.7 percent from the previous month, up 4.9 percent from the prior year. In June, the median price of single-family homes was $567,460, up 3.7 from the last month, and 7 percent from the same time the previous year. The median sale spruce of townhomes and condos soared, up 20.74 percent of the prior year, and an increase of over 7-percent from the month prior.
Now is an excellent time for homeowners considering a change to make a move. Mortgage rates are at historic lows, and inventory is scarce. And although there is uncertainly surrounding many issues, there is no doubt that now, more than ever, home life is a priority to many folks—both here in South Florida and nationwide.
Sellers are in a superb position to secure the best possible price. The Warner Team’s many years of local experience and expertise has helped numerous buyers, and sellers in Abacoa andthe town of Jupiter. Contact Scott and Julie for a complimentary consultation andcomprehensive valuation of your home’s value in today’s unique market.
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Snapshot represents all property types in Palm Beach County
Article – Statistics specific to Jupiter, Florida – June 2020
Source | Florida REALTORS