Monday, July 8, 2019 / by Alexander Haigh
What the Stats Say About Our Market
The latest numbers are in from last May in our South Florida market. How do they compare to the numbers we saw in 2018? Let’s take a look:
St. Lucie County:
The number of closed sales went from 598 to 609—a 1.8% increase
The number of sales paid in cash went from 164 to 122—a 22% drop
The average sale price went from $244,812 to $246,448—a 0.7% drop
The total dollar volume of homes sold went from $146.4 million to $150.1 million—a 2.5% increase
The number of new pending sales went from 600 to 634—a 5.7% increase
The number of new listings went from 657 to 688—a 4.7% increase
The months supply of inventory went from 3.5 months to 4.3 months—a 22.9% increase
Martin County:
The number of closed sales went from 238 to 206—a 13.4% drop
The number of sales paid in cash went from 103 to 83—a 19.4% drop
The average sale price went from $537,591 to $535,473—a 0.4% drop
The total dollar volume of homes sold went from $127.9 million to $110.3 million—a 13.8% drop
The number of new pending sales went from 260 to 254—a 2.3% drop
The number of new listings went from 315 to 285—a 9.5% drop
The months supply of inventory went from 5.1 months to 5.7 months—an 11.8% increase
Palm Beach County:
The number of closed sales went from 1,721 to 1,87-—an 8.7% increase
The number of sales paid in cash went from 568 to 628—a 10.6% increase
The average sale price went from $560,873 to $591,775—a 5.5% increase
The total dollar volume of homes sold went from $965.3 million to $1.1 billion—a 14.6% increase
The number of new pending sales went from 1,805 to 1,913—a 6% increase
The number of new listings went from 2,145 to 2,139—a 0.3% drop
The months supply of inventory went from 4.9 months to 5.1 months—a 4.1% increase
As you can see, St. Lucie County is very robust in its sales numbers. In Martin County, on the other hand, the numbers are almost unanimously down. The numbers from Palm Beach County, meanwhile, are up in most of the good categories (with the exception of the months supply of inventory).
If you have any questions about these numbers or our South Florida market in general, don’t hesitate to reach out to me. I’d be happy to help you.