Tequesta, FL Real Estate Market
Is Tequesta a Buyer's or Seller's Market?
Right now Tequesta is a balanced market, and for you that means you can shop without feeling rushed. There are 90 homes listed today against 199 sales over the past year. That works out to 5.4 months of supply. Sellers still have buyers coming through the door, but you have real choices and time to compare them before you commit.
Negotiating on Tequesta Homes for Sale
The most useful thing I can tell you about this market is that there is room to negotiate. The typical home here sold at 95.0% of its final list price, and only 6% sold for more than asking. Bidding wars are the exception in Tequesta, not the rule.
Homes also spent a median of 51 days on the market before selling. That gives you breathing room to schedule a thorough inspection, read through the HOA documents, and make a measured offer below the asking price instead of racing to beat someone else. When a home has been listed for a while, that is worth factoring into your number.
Tequesta Home Prices by Range
Your budget shapes your search here more than almost anything else, because Tequesta's sales are spread across very different price points rather than bunched around one figure. Over the past year, 32% of sales came in at $1,000,000 and up. Another 14% sold between $750,000 and $1,000,000, and 20% sold between $500,000 and $750,000.
At the other end, 19% of homes sold under $300,000. In between, the ranges from $300,000 to $400,000 and from $400,000 to $500,000 saw smaller slices of sales (8% and 8%). If your budget falls in one of those two ranges, expect fewer homes to choose from at any given time. Be ready to look closely when one comes up.
The median sold price was $685,000, but with sales spread this widely, that single number tells you less than usual. A better tool for comparing homes is price per square foot. The median here was $428, which gives you a yardstick for judging whether a particular listing is priced in line with what buyers have actually paid.
Typical Homes in Tequesta
Picture a 3-bedroom, 2-bath home of about 1,680 sq ft, built around 1981, and you have the typical Tequesta property. Most of what you tour will be older construction, so the condition of the roof, air conditioning, plumbing and electrical matters as much as the floor plan. Two homes at similar prices can differ a lot depending on what has already been updated.
Three-bedroom homes make up 47% of the stock. Two-bedroom homes are a sizable group too, at 32%, so if you don't need a third bedroom, you have plenty to consider. Four-bedroom homes account for 14%. If you need that extra space, set up alerts early so you see new listings as soon as they hit.
Tequesta Homes with an HOA
Plan on an HOA being part of your purchase. 80% of homes here report one. Fees, rules and the association's financial health vary from one community to the next, and they affect your monthly cost as much as your mortgage rate does. Ask for the HOA documents early and read them before your inspection period ends, not after. Rules on rentals, pets, parking and exterior changes are much easier to check up front than to discover after closing.
Single-Story Homes in Tequesta
If you want everything on one level, Tequesta gives you a good amount to choose from. Single-story homes make up 50% of the stock, so you won't be limited to a handful of listings. Since many of these homes date to the same era as the rest of the market, apply the same scrutiny to their systems and updates.
Questions to Ask Before Making an Offer in Tequesta
- Built around 1981: which major systems, such as the roof, AC, water heater and electrical panel, have been replaced, and when?
- With 80% of homes reporting an HOA: what are the monthly fees, are any special assessments planned, and how healthy are the reserves?
- Homes sold at a median of 95.0% of list price: how does this home's asking price per square foot compare with the $428 median?
- The median home sold after 51 days on the market: how long has this one been listed, and has its price changed?
Questions about Tequesta real estate?
Chris Kull knows the Tequesta market and can help you make sense of the homes, neighborhoods and prices you are seeing.
If you have questions about a home or neighborhood in Tequesta, ask me. I can help you get the information you need to make a more informed decision. Call or text 561-440-0777 or send me a message.
