How Is Our South Florida Market Holding Up?

Monday, May 20, 2019   /   by Alexander Haigh

How Is Our South Florida Market Holding Up?

Today I’m happy to bring you the very latest update from our market on single-family homes! Let’s dive right into the numbers for St. Lucie, Martin, and Palm Beach counties: 

St. Lucie County: 
-Number of units closed in March 2018 was 489 and 497 this March—a 1.6% increase year over year
-All-cash sales reached 153 in March 2018 and 112 this March—a 26.8% decrease year over year 
-The average sale price was $254,981 in March 2018 and depreciated by 1.4% to $251,400 this March
-Dollar volume for March 2018 was $124.7 million and $124.9 million this March—an uptick of 0.2% year over year 
-Pending sales in March 2018 were at 663 and 599 this March—a 9.7% decrease year over year 
-New listings in March 2018 and 2019 were at 689 and 702, respectively—a year-over-year gain of 1.9%    
-Our supply of inventory was at 3.6 months’ worth in March 2018 and 4.6 in 2019—a 27.8% jump year over year  

Martin County: 
-Number of units closed in March 2018 was 238 and 206 this March—a 13% year decrease year over year 
-All-cash sales reached 103 in March 2018 and 83 this March—a 19.4% decrease year over year 
-The average sale price was $537,591 in March 2018 and depreciated by 0.4% to $535,473 this March
-Dollar volume for March 2018 was $127.9 million and $110.3 million this March—a 13.8% drop year over year 
-Pending sales in March 2018 were at 260 and 254 this March—a 2.3% decrease year over year
-New listings in March 2018 and 2019 were at 315 and 285, respectively—a 9.5% drop-off year over year 
-Our supply of inventory was at 5.1 months’ worth in March 2018 and 5.7 in 2019—an 11.8% jump year over year 

Palm Beach County: 
-Number of units closed in March 2018 was 1,669 and 1,521 this March—an 8.9% decrease year over year
-All-cash sales reached 625 in March 2018 and 499 this March—a 20.2% decrease year over year
-The average sale price was $580,913 in March 2018 and depreciated by 5.7% to $547,778 this March 
-Dollar volume for March 2018 was 969.5 million and $883.2 million this March—a 14.1% drop year over year 
-Pending sales in March 2018 were at 2,072 and 1,950 this March—a 5.9% decrease year over year    
-New listings in March 2018 and 2019 were at 2,280 and 2,148, respectively—a 5.8% drop-off year over year 
-Our supply of inventory was at 5.1 months’ worth in March 2018 and 5.7 in 2019—also an 11.8% jump year over year 


I hope you found ample value in today’s market report. For help with any and all of your real estate needs, please reach out to us. We’re here to provide you the very best service and stay tuned for our next episode!