“Wealthy Home Buyers Are Flocking to Jupiter—and Not Just for the Golf” (Wall Street Journal, beginning of Pride 2025; no-paywall version):
Toward the northern end [of Palm Beach County] is Jupiter, with a population of about 61,000. The beachy city with a classic Old Florida feel is a mecca for golfers, especially professional ones. “There are at least 75 PGA Tour players in this area,” says Brad Faxon, an eight-time PGA Tour Champion and Jupiter local. The city has nine golf clubs and around a dozen-and-half golf courses, according to Palm Beach County Sports Commission; about 133 more courses are elsewhere in Palm Beach County. Many of Jupiter’s courses are within private, exclusive country clubs, where initiation fees can go as high as close to $1 million. Still, golf isn’t the only reason people live in Jupiter. Residents also seek it out for favorable taxes, good schools and proximity to multiple airports.
They zoomed in on the house next door to ours:
Actually, the WSJ does incongruously (and without explanation) note that the typical house or condo in Jupiter is almost free:
“The price point is broad,” says Leland Rykse, a Jupiter-based real estate agent with ONE Sotheby’s International Realty. Luxury properties can list around $50 million to $70 million, whereas there are also typical midmarket options. Jupiter’s median sale price was $717,500 in March 2025, according to Redfin.
Consistent with everything in our media being lies, the WSJ provides a misleading statistic (“median sale price” includes 1BR condos). More seriously, the WSJ says that prices are going up when, in fact, they are likely going down (the WSJ doesn’t bother to adjust for inflation or the fact that people keep improving their houses so a square foot from 2022 isn’t as high quality as a square foot from 2025):
We humble folks in the MacArthur Foundation-developed Abacoa should just be grateful that our town was noticed even if our neighborhoods weren’t!
Perhaps coincidentally, the Deplorables with Dollar Signs (Fox Business) did an article just a few days after the WSJ… “The new Palm Beach? Jupiter, FL, is drawing luxury homebuyers”:
Seth Mansfield, an agent with Douglas Elliman and a Forte Luxe sales executive, told FOX Business that he is seeing a lot of wealthy people come to Jupiter “because they are able to enjoy a storybook lifestyle in a relaxed setting.”
I would love to meet these people living in a relaxed storybook!
“The median price for a single-family home 5 years ago was $530,000 and the ceiling price was $12,250,000. Over the past year, those numbers are $980,000 and $48,000,000, respectively,” he said. “I don’t believe we’ve seen Jupiter’s ceiling.” … “In addition to the steady migration from the northeast and California, we’re seeing more and more buyers shift their attention from Palm Beach to Jupiter,” Mansfield said. “You can get the same house on the same Bahama blue water for a 50-60% discount relative to Palm Beach, with access to all the creature comforts that you’re used to, even more options for golf, and Palm Beach is still at your fingertips. I truly believe Jupiter is undervalued, as crazy as that may sound to some.”
This does sound crazy! But maybe the market will just bifurcate. Peasant neighborhoods like ours will continue to depreciate while the handful of elite gated communities and waterfront areas will zoom upwards. (All over Florida markets are going in opposite directions for older condos and houses and new condos/houses. A house built prior to 2002 when the statewide building code went into effect can slide three percent (real dollars) every year while an adjacent house built in 2022 is appreciating.)
(Note that Fox isn’t as incompetent as the Wall Street Journal. Fox does not mix in the prices of 1BR condos when reporting on what “houses” cost.)
Zooming out to the national real estate news…
Rising home prices and high mortgage rates have pushed the median age of homebuyers to a record-high 56 years old in 2024, up from 45 in 2021. In 1981, the median age of homebuyers was 31 years old, see chart below.
Photos of great empty pools in environments where air temperature matches body temperature always make me, used to hiking rugged terrain in any weather, all while being bitten by various flying and crawling insects, for fun in my rare free time, makes me wonder whether such housing is just a status symbol for billionaire owners? Kind of a dream of Epstein compound while being afraid to be alone with a lady in order to be sued out of some the billions.
What do you think taxes and maintenance on this house cost?
The Fish Man sold a house in 48 hours & says it’s booming in Greenspun’s home away from home. The media might be deluded but not as deluded as a blog superstar expecting to hit a home run in only 3 years. In another 6 years, the median age is going to be 60 in a time of ZIRP & no-one is going to be able to retire.
Why would anyone pay $45 million for a home built next to an above-ground utility pole?
If I were buying this property, I would make the purchase contingent on relocating the utility lines underground. At this price, I demand a significantly higher standard.
I think that is a huge transmission line. The house itself would be served by underground neighborhood lines. The neighborhood was perhaps built after the utility got its right of way for the transmission line.
If you run across your neighbor, could you ask him how much he wants for his black Camaro RS?
@Sam, if you’re assuming Philip is a wealthy guy who rubs elbows with people who own $45 million home, you are way off. Philip drives a Honda Odyssey and shops at Costco. In fact, he still gets sticker shock at the register every time he checks out. Now, if you are asking about his private 747 with the Rainbow flag painted on the tail… all that I can say is: Obama said, if you like your Rainbow, you can keep your Rainbow.