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
Paradise Found Realty, Inc. of Palm City
website: www.ParadiseFoundRealtyFl.com
Email: diane@paradisefoundrealtyfl.com
Phone: 954-294-5060
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