Palm Cove - Announcements - Palm Cove Home Sales Report

Palm Cove Home Sales Report - April 2023

5/7/2023

Palm Cove Golf & Yacht Club

Home Sales Report for April 2023

compliments of New Wave Real Estate Group

Making Waves in Real Estate!

According to the Multiple Listing Service (MLS) of the Realtor Association of Martin County and the Martin County public records, the following home sales activity occurred in Palm Cove Golf & Yacht Club for the month ending April 30, 2023.

There are zero (0) homes for sale in Palm Cove. There was one (1) Active listing in Palm Cove during the same period last year.

There have been three (3) home sales and two (2) rentals in Palm Cove year to date as compared to five (5) home sales during the same period last year. There is one (1) home pending as compared to three (3)homes pending during the same period last year.

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

FOR SALE (0)

FOR RENT (0)

PENDING (1) - 2358 SW Island Creek Tr - 2,750 sq. ft. u/a - $599,900 - New Wave

RENTED (0)

SOLD (0)

Available Slip Certificates (4)

Number Asking Price Survey Length Contact

1-17 $59,000 41 FS no lift Greg Sosnow (305) 942.9982

         3-15 $57,900 48.5 SLL no lift Craig Skoler (516) 353-4887

4-2 $40,000 35.8 SLL 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 March 2023

Martin County Housing Stats

Closed Home Sales for the month were 225 up from 121 the previous month and up 12.5% from 200 the prior year.

Cash Sales for the month were 117 up from 74 the previous month and up 11.4% from 105 the prior year.

Median Sale Price for the month was $589,000 up from $574,000 the previous month and up 6.1% from $555,000 the prior year.

Average Sale Price for the month was $962.714 up from $908,487 the previous month and up 26% from $764,243 the prior year.
 
Median Time to Contract for the month was 37 days up 311.1% from 9 days for the same period last year.

Inventory (Active Listing) for the month was 489 down from 515 the previous month and up 119.3% from 223 listings for the same period last year.

Dear Friends and Neighbors,

According to the most recent Martin County Housing Reports closed home sales, average sale price, and inventory continue to climb in Martin County.  Closed home sales are up 12.5% over last year and inventory is up 119% over last year.  As a result, there are many more options for sellers who would like to stay in the area.  

Here's your weekly look at what's happening with rate movement, the economy, and the housing market.  

Weekly Mortgage Market Update

Freddie Mac reported that this week mortgage rates inched down slightly amid recent volatility in the banking sector and commentary from the Federal Reserve on its policy outlook. As of Thursday, the 30-year fixed-rate mortgage averaged 6.39%, down from 6.43% the previous week. 

Primary Mortgage Market Survey

News Facts: 

30-year fixed-rate mortgage averaged 6.39 percent as of May 4, 2023, down from last week when it averaged 6.43 percent. A year ago at this time, the 30-year FRM averaged 5.27 percent.

15-year fixed-rate mortgage averaged 5.76 percent, up from last week when it averaged 5.71 percent. A year ago at this time, the 15-year FRM averaged 4.52 percent.

The National Association of REALTORS® is predicting that the 30-year fixed-rate mortgage will fall to 6% by the end of the year and to 5.6% in 2024.

This monthly report is custom designed to keep you up to date on your home's value and home sales activity for Palm Cove and Martin County.  We hope that you find it useful.  If you are interested in discussing the current market value of your home, please give me a call at 772.631.0960.

We are currently preparing the 2023 - 2024 edition of Palm Cove's neighborhood  directory. If you haven't already returned your sign up sheet, please complete the attached renewal/change form and return to me at [email protected] ASAP.  

Happy Mother's Day and thank you for your support! 

xoxo Sara.

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