Property values may be stabalizing in Abacoa
The inventory of townhouses and single family homes in Abacoa appears to be decreasing and consequently values are stabalizing and even rising in most cases. Townhouses that sold for as low as $200,000 have recently been selling for around $250,000. A couple of these units (about 1850 sq. ft. of living area) recently sold for $265,000 in Tuscany and Martinique at Abacoa. The smallest single family homes, around 1750 square feet of living area, have recently seen some sales at or near the $400,000 mark...a price not seen in quite a while. Part of the reason for the reduced inventory is that banks have been taking 4,5,6 months and more to reply to short sale offers. Therefore, many homes, although still listed on the MLS, are in a "Contingent" status awaiting replies from the banks, which effectively reduces the inventory, even though the units haven't actually sold yet. We're also seeing price increases in the nearby Heights of Jupiter as the mass flurry of short sales has subsided somewhat. We've still got a long way to go to get back to a "normal" market, but these are positive signs for Abacoa and Jupiter in general.