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            THE HONEST BROKER: MARKET WATCH JUL/AUG 2020

THE HONEST BROKER;  EXAMINE THE PROPERTY BEFORE RENTING OR CLOSING

            THE HONEST BROKER: MARKET WATCH JUL/AUG 2020

Normally the summer is a busy time for the real estate industry.  Primarily this is due to the movement of many people trying to get settled before the new school year begins in September.  Although market activity had a small decline in May and June, probably due to Covid-19, it is seeing a surge in activity these past two months.

SINGLE FAMILY HOME:   TOTAL VOLUME – 828

Status               Count   Ave. Price         Ave. Days on Market

Active                            180                         $917,966                           13

Active w/ contract      241                           587,366                           68

Closed Sales                 302                           661,286                           72

Pending Sales       95     589,297             87

Trends: from one year ago this same time period

Closed sales are up by 42.1%

Ave. Sale Price up by 24.7%

Time to contract/ Sale up 34.6% and 6.8% respectively

Months of Supply/Inventory down by 30.6%     *Indicating Sellers’ Market

CONDO/VILLA/TOWNHOUSE:  TOTAL VOLUME- 411

Status   Count   Ave. Price           Ave. Days on Market

Active     108             $240,050                       12

Active w/ contract     107               247,942             57

Closed Sales                 140   221,372 68

Pending Sales       56   243,893 55

Trends: from one year ago this same time period

Closed sales are up by 4.1%

Ave. Sale Price up by 7.6%

Time to contract/Sale up by 59.6% and 27.2% respectively

Months of Supply/Inventory up by 7.7%    *Indicating a trend to buyers’ market

The Martin County housing market is statistically strong.  We are getting a robust migration  from the Northeastern United States and Southeast Florida.  We see the influx from the high tax states of New York, New Jersey, & Connecticut. We also see the influx from the highly populated areas of Dade, Broward and Palm Beach due to the 3 “C’s”:  Covid, crime and congestion. We will be benefiting from this trend for the upcoming future months.

Stay well and stay healthy

Diane

Diane Lott, Broker

*The highest compliment you can give is when you feel you can refer a friend…
  Hope to see them soon!

Paradise Found Realty, Inc. of Palm City

website:  www.ParadiseFoundRealtyFl.com

Email:  diane@paradisefoundrealtyfl.com

Phone:  954-294-5060

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