Jupiter Inventory Too High?

I keep hearing that Jupiter has too much inventory, but I think people are comparing today’s market to the wrong market.

During the COVID years, Palm Beach County was sitting at roughly one month of single family inventory. Homes were selling almost immediately, buyers were competing aggressively, and there was very little available to choose from. That was not a normal real estate market.

Today, Palm Beach County is closer to four months of single family inventory. That is obviously much higher than it was during COVID, but it does not mean we are flooded with homes.

The bigger issue for buyers is that total inventory does not equal usable inventory. There might be hundreds of homes for sale in Jupiter, but once you narrow the search by neighborhood, budget, layout, condition, school zone, water access, or whatever else actually matters to you, the number of real options can get small very quickly.

I see this constantly with buyers. On paper, there is plenty to look at. In reality, there may only be a handful of homes they would actually consider buying.

That is why I think comparing today’s market to 2021 gives people the wrong impression. Inventory is higher because we are no longer in an extremely abnormal market where almost nothing was available.

It is also why I would not rely solely on sitting back and refreshing Zillow. If I know exactly what a buyer wants, I can identify the neighborhoods, streets, and properties that fit, then contact owners directly to see if someone would consider selling. Sometimes the right house is not actually for sale yet.

If you are looking for something specific in Jupiter, reply with your area, budget, and non-negotiables. I’ll tell you what is actually available and whether it makes sense to start looking off-market.

The same goes if you own something in Jupiter and have thought about selling. Let me know what you have. There is a good chance I already have someone looking for something similar.