The Honest Broker: Market Snapshot Sept. 2020
It is time to look back at our home sale activity for Martin County in the
month of September. The following chart has the accumulated data below:
MARTIN COUNTY
Single Family Homes 2020 2019 % Change
Closed Sales 252 197 27.9%
Average Sale Price $405,444 $386,500 4.9%
Orig. List Price Received 96.7% 94.3% 2.5%
Median Days to Contract 25 57 -56.1%
(Inventory) Active Listings 538 871 -38.2%
Months Supply of Inventory 2.6 4.5 -42.2% *
*Indication of months supply down by approximately half; a continued trend towards a “Sellers’ Market”.
Townhomes/Condos 2020 2019 % Change
Closed Sales 121 88 37.5%
Average Sale Price $195,000 $156,500 24.6%
Orig. List Price Received 95.7% 94.8% 0.9%
Median Days to Contract 35 57 -38.6%
(Inventory) Active Listings 299 335 -10.7%
Months’ Supply of Inventory 3.3 3.7 -10.8%*
Summary of Activity:
*Indication of months’ supply down by 10.8%; a trend now favoring the seller as opposed to the buyer. In July and August, the market still favored the buyer.
ST. LUCIE COUNTY:
Single Family Homes
Number of Closed Sales and Prices increased. The number of Days to Contract dropped 67.7%. Both “Active Listings” and “Inventory” has decreased by 42.4%
And 47.2% respectively indicating a Seller’s Market
Townhouses/Villas
“Closed Sales” are up 68.4% Prices are down 2.4%. “Days to Contract” has dropped by 33.3%. “Active Listings” and “Months’ Supply” have dropped 29.4% and 28.6% respectively indicating a Seller’s Market.
Markets are controlled by the rule of supply and demand. As there becomes more demand for homes and the inventory is not there to meet the demand, the seller can ask for, and potentially get, a higher price.
Happy Halloween; Stay well and stay healthy!
Diane Lott, Broker
Owner: Paradise Found Realty
Paradise Found Realty, Inc. of Palm City
website: www.ParadiseFoundRealtyFl.com
Email: diane@paradisefoundrealtyfl.com
Phone: 954-294-5060
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