Sure, we have one of the greatest concentrations of $ 1,000,000+ homes in the country, but let's pull back the curtain on their sales for the last 6 months and see what we find.

First, in Jupiter, Jupiter Inlet Colony and Tequesta, there were 34 sales over $ 1,000,000 in the last 6 months.

The median listing price at time of contract was $ 1,852,500 for 4,361 square feet.  This works out to $ 457.83 per foot.  What about the final selling price?
The median sales price was $ 1,600,000 or $ 404.18 or 88.85% of list price.
The median time on the market was 169 days, just slightly longer than homes in general.

What is interesting when you compare these with the 319 homes listed for more than one million is those that have not sold are asking $ 558.50 per square foot.

So, the same question comes up...what do the sellers know that the hopefuls don't?

Hope is not a method of selling.

Richard Sites
Realty Associates-FL Properties

rsites@coastalfloridarealestate.net