Market Report 
Bluffs Current Market 

With inventory remaining low, sale prices at the Bluffs Communities have been holding firm to date. Interest rates increases, however, are another story. They have almost doubled over the past few months! This does not appear to be affecting the Bluffs’ communities currently with 85% pf the sales being cash transactions. However, it does appear to have some impact in nearby areas. For example, west of the intracoastal in Jupiter have seen longer days on the market, more price reductions, and sales below list prices. That was unheard of a few months ago! I believe we may start to see the market leveling off if we continue to see higher interest rates, and possibly more inventory (from those who delayed listing). It is typically slower during the summer, so we shall see!  

Bluffs Inventory
Ridge-Two homes for sale out of 618.
River-One home for sale out of 363.
River North-Zero townhomes for sale out of 312.
Lakes- One townhome for sale out of 392.
Marina-Two condominiums for sale out of 660 units.
Ocean South- Two condominiums for sale out of 198 units.
Ocean North- One condominium for sale out of 120 units.
For the most current information on "Active Listings", click on the purple links below or go to our website at Jupiter Coastal Properties and on the home page search under Quick Search. These links are updated 24/7 to provide you with the latest information. 

Regards from Paradise!

Tom Waidelich
Jupiter Coastal Properties 

Thomas Waidelich
Direct: 561-373-9653
Tom Sells the Bluffs!
Bluffs Resident for over 18 Years
Bluffs Ridge-Sold
Address           Sale Price  Sale Date  Dom
193 Cape Pointe...1,000,000...07/20/22....3
176 Seashore Dr...1,530,000...06/15/22....1
192 Ridge Rd...........905,000...05/20/22....6
174 Ridge Rd...........880,000....05/17/22...1
152 Cape Point......1,167,000...05/10/22...4
185 Ocean Pines ..1,260,000...04/28/22...4
104 Ridge Rd.........1,210,000...04/18/22.111
Bluffs River-Sold
Address          Sale Price_Sale Date_Dom
384 River Edge ...1,125,000...07/19/22...2
264 E River Park.....825,000...07/05/22...4
101 Landward.........962,500...06/13/22...3
176 Harbourside...4,325,000...06/01/22..25
400 River Edge.....1,065,000...04/19/22..21
241 River Park......1,000,000...04/18/22...6
River North Townhouses-Sold
Address     _Sale Price  Sale Date  Dom
2903 29Th Ct....422,000.....06/28/22.....3
2403 24Th Ct....495,000.....06/10/22.....7
2731 27Th Ct....416,000.....04/29/22.....3
3225 32nd Ct....461,000.....04/28/22.....7
The Lakes-Sold
Address         Sale Price   Sale Date  DOM
1939 19th Ct.....435,000.....08/01/22.....4
1509 15th Ct.... 500,000.... 06/27/22.... 2
1511 15th Ct.... 430,000.... 06/01/22.... 1
1205 12Th Ct....445,000....05/02/22......2
Bluffs Marina-Sold
Address           Sale Price Sale Date  Dom
601 Seafarer 505.......615,000...07/10122.12
1201Seafarer 101......575,000...07/05/22...4
501 Seafarer 106 ......505,000...06/29/22....1
1101Seafarer 303.......535,000...06/27/22...1
701 Seafarer 101.......565,000...06/10/22..12
1101 Seafarer 202.....545,000...06/07/22..37
1601 Seafarer 202.....595,000...04/29/22....2
2001 Marina Isle.403..610,000...04/08/22...5
Bluffs Ocean South-Sold
Address         Sale Price  Sale Date DOM
501 S Seas 301..737,000...07/19/22....28
601 S Seas 502..801,000...06/01/22.....4
101 S Seas103...649,000...04/12/22.....9
701 S Seas 401..603,500...03/28/22.....1
101 S Seas 302..755,000...03/28/22.....7
401 S Seas 302..780,000...03/21/22....13
Bluffs Ocean North-Sold
Address             Sale Price  Sale Date DOM
301 Ocean Bluffs 506 .675,,000..03/25/22. .3
201 Ocean Bluffs 403 .759,000...03/22/22. .1
301 Ocean Bluffs 205 .585,000 ..02/28/22 ..5
Tom's Featured Listings

113 Dunes Edge Rd
241 River Park Dr
Sold $1,000,000
2101 Marina Isle Way 303
Offered at $649,900
Under Contract
601 Seafarer Cir Unit 505
SOLD $615,000
601 S Seas Dr 502
Sold for Record Price $801,000

Palm Beach Mortgage Group
Richard Whalen-Mortgage Broker NMLS #318922
Direct: (561) 371-3394
5589 Okeechobee Blvd. West Palm Beach FL 33417

If a buyer and seller agree to the material terms of a contract for the purchase/sale of real property via a series of emails and texts, but without a signed contract, do they have a binding contract? The short answer is “no.”
In Florida, the “Statute of Frauds” requires that "no action shall be brought . . . upon any contract for the sale of lands, tenements or hereditaments . . . unless the agreement or promises upon which such action shall be brought shall be in writing and signed by the party to be charged." In essence, this means that no matter how many conversations, confirmations, emails, texts, or other short forms of communication you have between agents, buyers, and sellers, you do not have an enforceable agreement until you have a signed written contract.
Recently, the Court of Appeal of Florida, Fourth District, in Walsh v. Abate, zeroed in on the issue of whether an unsigned contract could be enforced based upon email and text negotiations. Based upon the Statue of Frauds (codified in Florida Statutes s. 725.01), the Court answered the question in the negative. 
In Walsh, the negotiations started with a written contract offer prepared by the Buyer and emailed to the Seller’s real estate agent. The Seller’s agent replied to the email stating that “the Seller would only accept the list price of $3.4 million.”
The Buyer’s agent responded that the buyer would “meet the Seller’s $3.4 [million] with all other terms remaining the same” and a “quick cash close.” The Buyer’s agent further stated, “Please have the Seller counter the offer on our contract at $3.4 [million], sign and return and I will get you the contract fully executed today.”
The Seller’s agent responded via text that “the Seller accepts the $3.4 million and asks to close on 2/1.” The Buyer’s agent texted back, “Perfect and confirmed. Thank you!”
Several days later, the Seller’s agent emailed the Buyer’s agent, stating: “Please let the buyer know that the seller thanks him for his patience and accepts $3.4 million” and reiterated that the Seller “would like to close on 2/1/21.”
A few days after that, the Seller’s attorney emailed the Buyer’s attorney advising that the “Seller accepted a different offer.”
Thereafter, the Buyer filed a lawsuit seeking the remedy of specific performance (which would force the Seller to convey title to the Buyer for the property in question). The trial court dismissed the case, finding that the contract was never fully executed as required by the Statute of Frauds. The appellate Court affirmed the trial Court’s ruling, stating that there was no written agreement signed by both parties as required by the Statute of Frauds. The Court further opined, that the record reflects a signed initial offer, and thereafter only unsigned text messages and emails exchanged between the buyer’s and seller’s agents. 
The moral of the story is that you do not have an enforceable contract unless and until you have a fully executed contract containing all material terms.

Andrew Pineiro, Esq., Pineiro Byrd PLLC, 4600 Military Trail, Suite 212, Jupiter,
Jupiter Coastal Properties

Real Estate Sales and Rentals 
All information and Data is compiled from MLS records and is deemed to be reliable but not guaranteed. Sold information does not include private sales transactions.  Neither articles, advertisers nor non-advertisers should not be considered as endorsements of any product, business, service or person.  

Sales Last Updated 8/03/2022 Vol 112
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