How Was The Market In February?

I’m sharing another market update. This time I’m comparing February 2020 and February 2019’s numbers for the tri-county area.

St. Lucie County:

• 2.5 % increase in units closed

• 17.4% increase for paid-in-cash units

• 4.4% increase in average sale price

• 7% increase in dollar volume

• 26% increase in pending sales

• 9.1% increase for new listings

• 20% decrease in months’ supply of inventory

Martin County:

• 1.2% increase for units closed

• 4.1% decrease for paid-in-cash units

• 37.1% increase in average sale price

• 38% increase in dollar volume

• 6.4% increase in pending sales

• 9.7 % decrease in new listings

• 22% decrease in months’ supply of inventory

Palm Beach County:

• 12.3% increase in units closed

• 1.9% increase for paid-in-cash units

• 14.8% increase in average sale price

• 29% increase in dollar volume

• 12.8% increase in pending sales

• 8.6% decrease in new listings

• 27.6% decrease in months’ supply of inventory

As you can see, prices were going up, inventory was going down, and we were trending back toward a seller’s market before the pandemic hit. We’ve seen a lot of would-be buyers put a hold on their plans because they can’t travel but because interest rates are low and real estate has been deemed an essential service, we’re still helping people buy and sell. March and April’s numbers will be an even bigger indicator of where our market is headed, so stay tuned for my next update!

Remember, give The Haigh Group a call or send us an email if you have any questions about our market or real estate in general. We would love to help you