Abacoa Neighborhood Update
As of this morning, there are just 7 active single family home listings in Abacoa with a median list price of $899,888. If you did not catch Paradise Sharks February 1st market update, you may not realize that the median single family home price In the Jupiter area is actually down over the past 3 months. We expect that to change and prices should be moving higher over the season, but with all the crazy going on it’s impossible to be certain. Keep a very close eye on pending home sales above the million-dollar threshold.
Over the past 12 months, there have been 96 sales in Abacoa with a median sales price of $736,750. Current inventory, based on these 12-month sales, is 3.8 weeks which is extremely low. Overall single-family home inventory in Jupiter this morning sits at 1.3 months, again a historically low number. Last week, we sat at 1.4 months so inventory is getting even worse and the main reason we should see even higher prices coming our way. In Palm Beach County, current inventory of single-family homes sits at 1.76 months. One week ago, inventory in the county was 1.85 months so this historic shortage has gotten even worse.
Abacoa remains one of the most sought-after communities in the Palm Beaches for its front porches, sidewalks and that family atmosphere with its own downtown, spring training, a college and even world-renowned research facilities. This month there is going to a be the return of real live music with a Blackberry Smoke concert at the Abacoa Ampitheatre on February 25th. Hope to see you there!
Paradise Sharks LOVES setting price records in Abacoa and our “Let’s Set a Record Price” marketing packages are available on most homes in Abacoa for a total commission of 4% and that includes a 2.5% co-broke for the buyer’s broker. If a buyer’s broker is not involved your maximum total commission is lowered to 2.5%.
We are seeing more brokers offering a 2% co-broke commission and while Paradise Sharks is not sure the market is ready for that we are happy to discuss this in more detail with our clients. If they want to offer a reduced co-broke the maximum total commission charged by Paradise Sharks would be 3.5%.
Don’t forget, if you are looking to buy a home in Abacoa, on most transactions Paradise Sharks gives our buyer clients a credit at closing of any commission payable on that transaction over 2%. It’s our little way of saying thank you for trusting us with your business.
Complimentary consultations are easy to schedule either on the phone, live with proper social distancing protocol, or on Zoom. Schedule yours today at [email protected] or 561.308.0175.
Fins up…….
