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 November 30, 2023.
There are five (5) homes for sale in Palm Cove at this time. There were no Active listings in Palm Cove during the same period last year. There are currently no homes under contract. There have been eleven (11) home sales and two (2) rentals in Palm Cove year to date as compared to seventeen (17) home sales 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 (5)
772 SW Pebble Lane - 2,222 sq. ft. under air - $730,000 - slip available - New Wave Realty
934 SW Palm Cove Drive - 2,666 sq. ft. under air - $775,000 - New Wave Realty
2408 SW Island Creek Trail - 2,750 sq. ft. under air - $875,000
2139 SW Balata Terrace - 4,597 sq. ft. under air - $1,590,000 - slip available
2219 SW Balata Terrace - 5,258 sq. ft. under air - $1,767,000 - slip available
COMING SOON (0)
PENDING (0)
SOLD (2)
2386 SW Island Creek Tr - 2,750 sq. ft. u/a - price $799,000 - sold $775,000 - New Wave Realty
880 SW Pebble Ln - 3,310 sq. ft. u/a - price $950,000 - sold $925,000 - New Wave Realty
Available Slip Certificates (5) Number Asking Price Survey Length Contact 3-13 $61,900 50.5 FS (lift) Jankowski (561) 248-5964
3-18 $59,900 35.8 SLL (lift) Fano (772) 233-3086
4-2 $40,000 35.8 SLL (no lift) Murray (786) 512-7246
4-17 $59,900 OBO 36.9 SLL (30k lift) Griffing (860) 906-6850
6.1 $58,900 44.7 SLL (lift) Peace
Martin County Single Family Home Stats through October 2023
Martin County Housing Stats
Closed Home Sales for the month were 160 up from 144 the previous month and up 19.4% from 134 the prior year.
Cash Sales for the month were 74 up from 61 the previous month and 19.4% from 62 the prior year.
Median Sale Price for the month was $572,000 slightly down from $577,645 the previous month and down 0.7% from $568,250 the prior year.
Average Sale Price for the month was $800,893 up from $718,497 the previous month and down 21.1% from $1,014,608 the prior year.
Median Time to Contract for the month was 29 days up from 25 days the previous month and up 45% from 20 days for the same period last year.
Inventory (Active Listings) for the month was 536 up from 461 the previous month and down 2.9% from 521 listings for the same period last year. |
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Dear Friends and Neighbors,
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. Here's the South Florida Market Recap and your monthly look at what's happening with rate movement, the economy, and the housing market.
Martin County saw 239 new listings in October compared to 181 in the previous year, a whopping 32% increase. This increase has contributed to the cooling off of home prices in our area. If you are thinking of selling let us help you position your home to stand out amongst the competition.
According to Freddie Mac's primary mortgage market survey, the 30-year fixed-rate mortgage averaged nearly 7 percent this week, down from nearly 7.80 percent just six weeks ago.
- The 30-year fixed-rate mortgage averaged 7.03% as of December 8, 2023, down 0.19% from the previous week. A year ago at this time, the 30-year FRM averaged 6.78 percent.
- The 15-year fixed-rate mortgage averaged 6.29%, down 0.27% from the previous week. A year ago at this time, the 15-year FRM averaged 6.09%
Although these lower rates are a welcome relief, it is clear they will have to be lower in order to make an impact on Buyer demand. The good news is that the Fed is expected to meet next week and we expect them to hold rates steady for now.
On behalf of our entire New Wave Realty team, we thank you for your support and business over the years! We wish you and your loved ones Peace and Prosperity in the New Year!
xoxo Sara.
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