Jupiter Market Overview: September 2015
As we approach the end of September, home buyers and sellers should start gearing up for what looks like will be a busy fall season. Earlier this month, the Federal Reserve decided to keep interest rates at record lows—for the time being—and here in Jupiter, the market still seems to be red hot, especially among luxury homes and condos in the area.
In terms of inventory, 998 properties are currently listed on the market, down from 1,011 in August, but up from 804 properties this time last year. Distressed properties such as foreclosures and short sales have basically remained the same over the past couple months, only occupying about 3% of the current inventory.
The median list price for homes, condos, and townhomes in Jupiter has been on the decline, dropping from $449,900 last year to $429,000 in August 2015. As of today, the median list price is right around $425,000—down 1% from last month. Homes are also sitting on the market slightly longer, but the change isn’t that dramatic. Around this time last year, the median days on market for property listings in Jupiter was 91 days, while today, homes are sitting for right around 104 days.
