THE HONEST BROKER: MARKET WATCH JUL/AUG 2020
Normally the summer is a busy time for the real estate industry. Primarily this is due to the movement of many people trying to get settled before the new school year begins in September. Although market activity had a small decline in May and June, probably due to Covid-19, it is seeing a surge in activity these past two months.
SINGLE FAMILY HOME: TOTAL VOLUME – 828
Status Count Ave. Price Ave. Days on Market
Active 180 $917,966 13
Active w/ contract 241 587,366 68
Closed Sales 302 661,286 72
Pending Sales 95 589,297 87
Trends: from one year ago this same time period
Closed sales are up by 42.1%
Ave. Sale Price up by 24.7%
Time to contract/ Sale up 34.6% and 6.8% respectively
Months of Supply/Inventory down by 30.6% *Indicating Sellers’ Market
CONDO/VILLA/TOWNHOUSE: TOTAL VOLUME- 411
Status Count Ave. Price Ave. Days on Market
Active 108 $240,050 12
Active w/ contract 107 247,942 57
Closed Sales 140 221,372 68
Pending Sales 56 243,893 55
Trends: from one year ago this same time period
Closed sales are up by 4.1%
Ave. Sale Price up by 7.6%
Time to contract/Sale up by 59.6% and 27.2% respectively
Months of Supply/Inventory up by 7.7% *Indicating a trend to buyers’ market
The Martin County housing market is statistically strong. We are getting a robust migration from the Northeastern United States and Southeast Florida. We see the influx from the high tax states of New York, New Jersey, & Connecticut. We also see the influx from the highly populated areas of Dade, Broward and Palm Beach due to the 3 “C’s”: Covid, crime and congestion. We will be benefiting from this trend for the upcoming future months.
Stay well and stay healthy
Diane
Diane Lott, Broker
Paradise Found Realty, Inc. of Palm City
website: www.ParadiseFoundRealtyFl.com
Email: diane@paradisefoundrealtyfl.com
Phone: 954-294-5060
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