Your Latest 2020 Market Update

Here are the numbers you need to feel the pulse of our market. 

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Given that the market is moving incredibly fast in these uncertain times, I find it all the more important to offer regular market updates. Here is a comprehensive look at how May 2020 stacked up against May of last year:

St. Lucie County (May 2020 | May 2019):

  • Closed sales are down 35% (396 | 609)
  • Transactions paid in cash are down 45.3% (70 | 128)
  • Average sale price tipped down by 0.1% ($246,301 | $246,448)
  • Dollar volume is down 35% ($97.5 million | $150.1 million)
  • New pending sales are up 11.5% (707 | 634)
  • New listings on the market are down 6.4% (644 | 688)
  • Months’ supply of inventory is down 23.3% (3.3 | 4.3)

Martin County (May 2020 | May 2019):

  • Closed sales are down 50% (133 | 266)
  • Transactions paid in cash are down 62.6% (40 | 107)
  • Average sale price is down 9.4% ($520,755 | $476,204)
  • Dollar volume is down 45.3% ($69.3 million | $126.7 million)
  • New pending sales are up 21.8% (279 | 229)
  • New listings are up 4.5% (305 | 292)
  • Months’ supply of inventory is down 11.1% (4.8 | 5.4)

Palm Beach County (May 2020 | May 2019):

  • Closed sales are down 47% (991 | 1,870)
  • Transactions paid in cash are down 49.8% (315 | 628)
  • Average sale price is up 10.8% ($655,752 | $591,775)
  • Dollar volume is down 41.3% ($649.9 million | $1.1 billion)
  • New pending sales are down 11.2% (1,698 | 1,913)
  • New listings are down 9.7% (1,931 | 2,139)
  • Months’ supply of inventory is down 15.7% (4.3 | 5.1)

As you can tell from these wild numbers, our market is red hot. We’re seeing people move to our area from the bigger, denser cities and places like California. COVID-19 cases are milder in Treasure Cove than in other areas, making ours an attractive destination for buyers.

If you have questions about anything mentioned in this market update, or are interested in buying or selling soon, feel free to reach out to me via phone or email anytime. I’m here to be a resource for you.

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