Better days are coming
The new year has started off with a bang at the headquarters of Paradise Sharks Real Estate. We snuck out this morning to the amazing ArtFest by the Sea in Juno Beach then over to Singer Island for a lunch of fresh fish and a refreshing margarita. But our mind kept thinking about the texts, e-mails and voice mails waiting for our attention. The fact is the real estate market in Jupiter and the surrounding towns is keeping us on our toes.
Sales of local single family homes had been in a bit of a funk since June of last year. We saw month after month of lower sales reaching a new multi-year when January sales had dropped to a meager 56% of what we enjoyed in June 2013. So it is very refreshing to see the increase as sales for the 30 day period ending March 1st show a solid 10% gain over month ago numbers. No doubt it isn't yet back to the "good old days" but the seasonal bump we are expecting over the next few months is coming. We feel it. We know it.
Sellers who are asking higher prices have been winning the war as median home prices have risen steadily for 4 straight months. Interest rates that had fallen since the first of the year have aided the recovery but signs are pointing for rates to at least edge up a bit. As prices rise the home equity position of many homeowners improve and each month more and more are in a position to make a move that they have had on hold since the old bubble burst back in 2006.
They are doing just that and the bump in inventory is very welcome to buyers throughout the north county region. No reason to thing the spring months ahead of us will be nothing short of spectacular when it comes to real estate. If we can keep momentum building through the summer it could get exciting. Always interesting, always fun.
Paradise Sharks Real Estate
Direct Line 561 308-0175