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THE HONEST BROKER : MARKET WATCH For NOVEMBER 2020

Honest Broker: Retirees

THE HONEST BROKER : MARKET WATCH For NOVEMBER 2020

Single Family Homes

 Nov 2020

  Nov 2019

  % Change

Closed Sales

  241

   174

   38.5%

Ave. Sale Price

  $645,229

  $434,787

   48.4%

Median Time to Sale

   77 Days

  95 Days

  -18.9%

New Listings

  254

  217

   17.1%

Active Inventory

  498

  864

  -42.4%

Months’ Supply of Inventory

  2.3

  4.4

  -47.7%

SUMMARY: Inventory of homes are being absorbed faster than homes coming on to the market. 

CONDITION:  Seller’s Market as reflected by the increased prices and diminished inventory.

Townhomes & Condos

    Nov 2020

   Nov 2019

  % Change

Closed Sales

        108

        62

      74.2%

Ave. Sale Price

    $208,450

  $199, 067

        6.3%

Median Time to Sale

      70 Days

     59 Days

      18.6%

New Listings

        120

      111

         8.1%

Active Inventory

        289

      373

       -22.5%

Months’ Supply of Inventory

         3.0

       4.1

       -26.8%

SUMMARY:  Sales have seen a marked increase since this same time last year.  Prices have also increased.

CONDITION:  There is less active inventory on the market causing an advantage that favors the seller.  This is producing a Seller’s Market trend.

This is a snapshot over the past 11 months for the real estate market in Martin County.  This is an incredibly positive reflection of how active our market has been, even while experiencing the Covid-19 pandemic.  Realtors, sellers, and buyers have been successfully following CDC guidelines while still pursuing the goal of buying and selling homes.  My prediction is that we will continue to see an increase in home sales throughout the next quarter. 

Stay well ….

Diane Lott, Broker

Owner: Paradise Found Realty

*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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