End-of-Summer South Florida Market Update

Here are the latest numbers for St. Lucie, Palm Beach, and Martin counties.

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The latest year-over-year numbers are in for our South Florida market. Here’s how the July 2021 numbers compare to what we saw in July 2020:

St. Lucie County:

• Closed sales increased 5% from 639 to 671 units
• The number of units paid in cash rose 43.8% from 112 to 161 units
• The average sale price rose 23.1% from $273,272 to $336,405
• The total dollar volume of homes sold rose 29.3% from $174.6 million to $225.7 million
• Pending sales decreased 19.9% from 773 to 619 units
• New listings increased 12.5% from 622 to 700
• The months’ supply of inventory dropped 50% from 2.2 to 1.1 months

Martin County:

• Closed sales dropped 8.6% from 280 to 256 units
• The number of units paid in cash rose 21% from 81 to 98 units
• The average sale price rose 7.1% from $634,265 to $679,242
• The total dollar volume of homes dropped 2.1% from $177.6 million to $173.9 million
• Pending sales decreased 18.4% from 283 to 231 units
• New listings dropped 8.1% from 270 to 248 units
• The months’ supply of inventory dropped 64.7% from 3.4 to 1.2 months

Palm Beach County:

• Closed sales decreased 8.6% from 1,940 to 1,774 units
• The number of units paid in cash rose 27.7% from 553 to 706 units
• The average sale price rose 12.1% from $737,439 to $826,567
• The total dollar volume of homes sold rose 2.5% from $1.4 billion to $1.5 billion
• Pending sales decreased 0.5% from 2,067 to 1,583 units
• New listings decreased 0.5% from 1949 to 1940
• The months’ supply of inventory dropped 55.9% from 3.4 to 1.5 months

It looks like we might be seeing signs of a potential slowdown here. We’ll be keeping an eye on the numbers as they come out and will be sure to bring you another update in the future. If you want to go over these numbers further or have any questions for me about selling, buying, or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.