Jupiter Single Family Home Sales Pick up During August
Another month rolls on, summer is now officially in the rear view mirror, as we start off the fall season looking back at sales during August in the north county area. This month we are going to start giving our “power rankings” of the different municipalities and will post the blogs starting with the lowest ranking and continuing through the star of the month. So here for our first ever power rankings are the results for August;
#1 North Palm Beach
#4 Palm Beach Gardens
#5 Juno Beach
#6 Hobe Sound
This month’s fourth report with the #3 ranking is single family home sales in Jupiter which have really been treading water at decent levels over the past four months. We are also hanging very close to the 12 month average which stands at 72.08 which is a good sign of further stabilization in the Jupiter market. As of this morning our MLS system shows a total of 76 successful closings in August which was just slightly ahead of the 73 we had in July and well ahead of the 54 sales we had in August of 2010.
While sales levels picked up slightly they were also strongly represented in all categories except the $750,001 to $1,000,000 price level. Sales in the $1,000,000 were solid with 5 sales which represented about 7% of the market. The second chart shows the percentage of sales by price category for the month of August.
With solid sales throughout all price levels and excellent high end sales we should expect good median sales prices figures and that is what we got with a healthy increase over the July numbers. August numbers came in at $291,955 which was well ahead of the July median price of $260,000 but still seeing pressure from the foreclosure market. We were solidly ahead of the $236,000 median price we experienced in August of last year but slightly below the 12 month average of $311,007. We were very happy to report last week that foreclosure numbers were down for the 4th consecutive month which is the first step in getting prices to move higher. The final chart shows median prices on a monthly basis over the previous 12 month period.
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