November’s Remarkable Numbers: A Look at the Market

November provides some fascinating insight into the direction of the market. 


The latest year-over-year numbers for our South Florida market are in. Here’s how the November of 2022 numbers compare to what we saw last year:

St. Lucie County:

  • Closed sales decreased by 33.8%, from 592 to 392 units.
  • The number of units paid in cash decreased by 22.4%, from 152 to 118 units.
  • The average sale price rose by 12.6%, from $367,863 to $414,325.
  • The total dollar volume of homes sold decreased by 25.4%, from $217.8 million to $162.4 million.
  • Pending sales dropped by 44.1%, from 669 to 374 units.
  • New listings decreased by 13.5%, from 652 to 564 units.
  • The months’ supply of inventory increased by 166.7%, from 1.2 to 3.2 months.

I like these numbers because they show us some really interesting things."

Martin County:

  • Closed sales dropped by 45.4%, from 194 to 106 units.
  • The number of units paid in cash decreased by 44.9%, from 89 to 49 units.
  • The average sale price fell by 7.0%, from $709,734 to $660,191.
  • The total dollar volume of homes dropped by 49.2% from $137.7 million to $70.0 million.
  • Pending sales decreased by 36.7%, from 180 to 114 units.
  • New listings decreased by 7.1%, from 169 to 157 units.
  • The months’ supply of inventory increased by 210.0%, from 1.0 to 3.1 months


Palm Beach County:

  • Closed sales decreased by 38.3%, from 1,491 to 920 units.
  • The number of units paid in cash fell by 33.4%, from 619 to 412 units.
  • The average sale price rose by 5.6%, from $953,440 to $900,203.
  • The total dollar volume of homes sold dropped by 41.7%, from $1.4 billion to $828.2 million.
  • Pending sales decreased by 34.1%, from 1,467 to 967 units.
  • New listings decreased by 7.5%, from 1,471 to 1,360 units.
  • The months’ supply of inventory rose by 175.0%, from 1.2 to 3.3 months.


By now, it’s pretty obvious: Our market has shifted. Inventory is increasing dramatically, and demand has decreased. This is likely a result of higher interest rates. Despite this, prices remain high, and sellers can still get fantastic deals for their properties. We’ll be sure to keep you updated on any further developments.

If you’re thinking about buying or selling, we’re here to help advise and guide you through that process. Just call or email us if you have any questions.

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