Thom and Rory talk about the current market stats informing you of all things real estate related covering the areas from Martin County south to North Palm Beach County.
Hi everybody. It's Thom Montrois with the Thom and Rory Team and Remax Properties here in Jupiter Florida. You know we're always getting asked how is the real estate market in the Jupiter area. So I thought this quick video would give you a sense of what's happening.
So we have a couple of different stats for Jupiter. We have just the month of December in 2017 and 2018 and then we have the entire year of 2017 and 2018 so I'm really just going to focus on the entire year at this point. So the closed sales we had went down 7.3 percent and the median sales price, that is half sold higher and half sold lower, that's actually up almost 9 percent. The average sales price is up almost 20%.
Our dollar volume is up 10.8 percent and the percentage of original list price received is holding steady right around 94 percent of this price is what sellers are getting. The median time to contract was actually down so it's taking a little bit less time to get them under contract. The pending sales are down to 8.1 percent. The new listings, those are also down almost 10%.
You're probably hearing in the news that things may be shifting towards a buyers market. Jupiter is a little bit different than the rest of the area. You're probably hearing that for Palm Beach County and possibly the state of Florida.
We have low crime. We have great schools a lot of green space so we're just not seeing that buyer's market here yet. The demand is still high and there are not as many listings as we'd like to see. We have some buyers still waiting in the wings not finding the right house.
If we go down to the townhouse and condo market, the same stats, the closed sales, we're down 3.1 percent. The median sales price were up 9%, and the average sales price is up to 10%. The dollar volume is up just a little bit more because townhomes and condos cost less than the single-family homes. The percentage sales price received is still right around 94 percent. The median time to contract is down again 8.2 percent which is good. They're going under contract quicker because the demand is still there. Pending sales are down 7 percent and again new listings is down 2.2 percent.
We do have these stats for other areas, not just Jupiter. We all the other towns and cities for Palm Beach County. We also have some trends stats if you're interested in any of those areas, we'd be happy to share them with you. And always remember we're here for you if you just have real estate questions.
Thanks so much for watching.