August's Single-Family Housing Market Report: A Close Look at Jupiter's Real Estate Trends

           Now that August has come to a close, it is time to analyze the numbers from last month. I enjoy diving into the data since one of my passions is finance. Numbers have always interested me, but whether finance is your passion or not, paying attention to the markets around you is essential. Investors need to stay up to date to make money, but even as a homeowner, you want to be educated to make the best decisions for you and your family.

    In analyzing the numbers, the data points that stand out the most is that there has been a steady decrease in active listings and 30-day sales. Typically, when active inventory decreases, prices will increase because there is less supply, but coupled with decreased closings, which would decrease prices, this has left stagnant prices over the past couple of months. We see this from the unchanged median sales price of around $1 million, which is about par with what we have seen over the last year in Jupiter. Jupiter single-family homes remain in a seller’s market with only 2.82 months of inventory. The market has not seen any dramatic price decreases, and it will be fascinating to see how the rest of the year plays out. With South Florida's resilience relative to the rest of the country and the increased interest and migration to Jupiter, the market might see nothing more than a reversion back to the mean, but be sure to subscribe in case the data starts to show otherwise.

Kyle Camerlinck

561-371-5143

kyle@taiter.com