Palm Cove - Announcements - Palm Cove Home Sales Report for February 2023

Palm Cove Home Sales Report for February 2023

3/6/2023

Palm Cove Golf & Yacht Club

Home Sales Report for February 2023

Compliments of Sara Crombie - New Wave Realty

According to the Multiple Listing Service (MLS) of the Realtor Association of Martin County and Martin County public records, the following home sales activity occurred in Palm Cove Golf & Yacht Club for the month ending February 28, 2023.

Year to date, there is one (1) home for sale in Palm Cove. There was one (1) Active listing in Palm Cove during the same period last year.

There have been (2) home sales and two (2) rentals in Palm Cove year to date. There are currently no homes pending as compared to two (2) homes pending during the same period last year.

Listed below is a breakdown of properties by type, the number for sale, and list prices.

SUMMARY:

FOR SALE (1)

2358 SW Island Creek Trail - 2,750 sq. ft. under air - $599,900

FOR RENT (0)

PENDING (0)

RENTED (0)

SOLD (2)

2418 SW Island Creek - 1,513 sq. ft. w/slip - $550,000 - sold $545,000 home w/slip - New Wave
2591 SW Bridgeview Terr - 2,027 sq. ft. u/a - $720,000 - sold $720,000 home w/slip - New Wave

Available Slip Certificates (2)

Number Asking Price Survey Length Contact

1-17 $59,000 41 FS no lift    Greg Sosnow (305) 942.9982
4-2                 $40,000              35.8 SL no lift     Murray (772) 223.1850

           4-13 $49,900 35.7 SLL w/lift Weiss (772) 221-1581

Martin County Single Family Home Stats through December 2022

2023 Market Reports

Closed Home Sales for the month were 113 down from 131 the previous month and down 20.4% from 142 the prior year.

Cash Sales for the month were 56 down from 62 the previous month and down 27.3% from 77 for the same period last year.

Median Sale Price for the month was $574,000 up from $550,000 the previous month and down 9.7% from $523,175 for the same period last year.

Average Sale Price for the month was $654,988 down from $779,674 the previous month and down 36.7% from $1,034,061 for the same period last year.
 
Median Time to Contract for the month was 37 days up from 35 the previous month and up 184.6% from 13 days for the same period last year.

Active Inventory for the month was 530 up from 499 the previous month and up 248.7% from 152 listings for the same period last year.

Dear Friends and Neighbors,

There is only one townhome for sale in Palm Cove. Even though home sales in Martin County were down 20.4% year over year in January, the median sales price rose slightly due to strong buyer demand and extremely low inventory. Martin County Housing Reports

A jump in pending home sales in January shows that Buyers were willing to reenter the market when mortgage rates dipped to around 6%. According to Freddie Mac's Primary Mortgage Market Survey, the US weekly average closed last week around 6.65%.

If you are thinking of selling, chances are we already have a Buyer for your home so please contact me and I will get you top dollar! If you are wondering what your home is worth in today's market, I'm happy to provide you with a confidential market analysis. Whether buying or selling, it is important to choose a Realtor who has the experience and negotiating skills to help you achieve your real estate goals.

Thank you for your support, encouragement and business over the years!

xoxo Sara.

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