Do the Year-Over-Year 2018 Stats Point to a Shift Happening in Our Market?

Tuesday, January 15, 2019   /   by Alexander Haigh

Do the Year-Over-Year 2018 Stats Point to a Shift Happening in Our Market?

Is our market shifting as we begin 2019? Let’s look at the year-over-year statistics from November 2018 from St. Lucie, Martin, and Palm Beach counties:


St. Lucie County

  • The number of closed sales rose 4.2% from 425 to 443
  • The number of units that were paid for in cash dropped 7% from 114 to 106
  • The average sale price dropped 0.8% from $228,513 to $226,738
  • The total dollar volume of units sold increased 3.4% from $97.1 million to $100.4 million
  • Pending inventory dropped 7% from 787 units to 732 units
  • The months' supply of inventory rose 20% from 3.5 to 4.2 months

Martin County

  • The number of closed sales dropped 23% from 178 to 137
  • The number of units that were paid for in cash dropped 5.9% from 61 to 58
  • The average sale price dropped 5.6% from $463,924 to $437,969
  • The total dollar volume of units sold decreased 27.3% from $82.6 million to $60 million
  • Pending inventory dropped 14% from 279 units to 240 units
  • The months' supply of inventory stayed the same: 4.8 months

Palm Beach County

  • The number of closed sales dropped 4.3% from 1,243 to 1,189
  • The number of units that were paid for in cash dropped 6.6% from 427 to 399
  • The average sale price dropped 1.2% from $526,973 to $520,809
  • The total dollar volume of units sold decreased 5.5% from $655 million to $619 million
  • Pending inventory dropped 15.2% from 2,469 units to 2,094 units
  • The months' supply of inventory rose 4.1% from 4.9 to 5.1 months


What do these numbers mean? If they make it seem like things have slowed down in our market, that’s because November has always been a bit of a “soft” month in terms of real estate sales here in Florida. That being said, my phone is still ringing off the hook. The majority of the country’s leading economists predict that prices will continue to rise this year, but not at the same rate that we’ve seen the past few years.

If you have any other questions about our market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d love to help you.
 


  market update, real estate

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All listings featuring the RPBGFL MLS logo are provided by the Realtors of the Palm Beaches and Greater Fort Lauderdale, Inc. and BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright 2018 Realtors of the Palm Beaches and Greater Fort Lauderdale Inc. and BeachesMLS, Inc.
All listings featuring the RPBGFL MLS logo are provided by the Realtors of the Palm Beaches and Greater Fort Lauderdale, Inc. and BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright 2018 Realtors of the Palm Beaches and Greater Fort Lauderdale Inc. and BeachesMLS, Inc.