What Do the Latest Year-Over-Year Numbers From August Say About Our Market?

Tuesday, October 16, 2018   /   by Alexander Haigh

What Do the Latest Year-Over-Year Numbers From August Say About Our Market?



Here are the latest year-over-year statistics comparing August 2017 to August 2018 in St. Lucie, Martin, and Palm Beach counties:


St. Lucie County:


-The number of units closed increased 14% from 467 to 533

-The number of units paid for in cash rose 9.2% from 109 to 119

-The average sale price rose 8.7% from $205,000 to $225,000

-The total dollar amount of the volume sold rose 24% from $101 million to $125 million

-Pending inventory dropped 2.8% from 855 to 831 units

-Total inventory rose 2.9% from 3.5 months to 3.6 months


Martin County:


-The number of units closed dropped 15% from 247 to 208

-The number of units paid for in cash dropped 21% from 76 to 60

-The average sale price rose 2.2% from $467,000 to $477,000

-The total dollar amount of the volume sold dropped 14% from $115 million to $99 million

-Pending inventory increased 1% from 305 to 308 units

-Total inventory dropped 8.2% from 4.9 months to 4.5 months


Palm Beach County:


-The number of units closed rose 1.7% from 1,550 to 1576

-The number of units paid for in cash rose 3% from 499 to 514

-The average sale price rose 8.2% from $462,000 to $501,000

-Total inventory stayed the same at 4.6 months


In summation, we’re essentially in a neutral market, and because interest rates are still incredibly low, there are great opportunities out there for both buyers and sellers if you have the right Realtor at your side.


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

 

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