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 September 30, 2024.
There are nine (9) homes for sale in Palm Cove, up two (2) from last month. There are two (2) homes for rent up two (2) from last month. There were no homes for sale during the same period last year.
Two (2) homes are under contract in Palm Cove, down one from last month. Three (3) homes were under contract during the same period last year.
There were no home sales in Palm Cove in September compared to no home sales in Palm Cove during the same period last year.
There have been nine (9) home sales and one (1) rental in Palm Cove year to date as compared to eight (8) home sales and two (2) rentals during the same period last year.
Below is a breakdown of properties by type, the number for sale, and list prices.
SUMMARY:
FOR SALE (9)
NEW 2381 SW Carriage Hill Terr #203 - 2,284 sq. ft. - 489,900
2385 SW Island Creek Trail - 2,037 sq. ft. - $599,000 now $550,000 - New Wave Realty
2394 SW Island Creek Trail - 1,513 sq. ft. - $646,000 now $631,000
819 SW Pebble Lane - 2,208 sq. ft. - $719,000 - New Wave Realty
742 SW Palm Cove Drive- 2,216 sq. ft. - $735,000 slip avail - New Wave Realty
982 SW Palm Cove Drive - 2,669 sq. ft. - $799,995 now $765,000 slip avail
2408 SW Island Creek Trail - 2,750 sq. ft. - $849,500
210 SW Hatteras Court - 3,431 sq. ft. under air - $1,379,000 now $1,345,000
213 SW Palm Cove Drive - 4,597 sq. ft. - $1,525,000 - now $1,495,000 - New Wave Realty
FOR RENT (2)
819 SW Pebble Lane - 2,208 sq. ft. - $4,750 per month - New Wave Realty
2358 SW Island Creek Trail - 2,750 sq. ft under air - $3,650 per month
PENDING (2)
2440 SW Island Creek Tr - 2,313 sq. ft. - $935,000 New Wave Realty
281 SW Hatteras Court - 4,806 sq. ft. - $1,575,000 slip avail - New Wave Realty
TOTAL SOLD (9)
September Sales
There were no sales in Palm Cove in September.
Year to Date
2178 SW Balata Terr - 4,806 sq. ft. u/a - $1,545,000 - sold $1,465,000 - New Wave Realty
772 SW Pebble Ln - 2,222 sq. ft. - $695,000 - sold $710,000 w/slip - New Wave Realty
934 SW Palm Cove Drive - 2,666 sq. ft. $714,000 - sold $710,000 - New Wave Realty
2219 SW Balata Terrace - 5,258 sq. ft. under air - $1,767,000 - sold $1,725,000
2573 SW Bridgeview Terr - 2,676 sq. ft. u/a - list $749,900 - sold $749,900 New Wave Realty
2139 SW Balata Terr- 4,597 sq. ft. - list $1,490,000 - sol $1,395,000
730 SW Palm Cove Dr - 2,045 sq. ft. - $659,900 sold $650,000 - New Wave Realty both sides
2159 SW Balata Ter - 4,597 sq. ft. - $1,495,000 sold $1,430,000 - New Wave Realty both sides
2390 SW Island Creek Tr - 2,750 sq. ft. - $899,900 - sold $845,000 - New Wave Realty
Available Slip Certificates (9) Number Asking Price Survey Length Contact 1-4 $52,000 41.4 SLL (lift) Allen (772) 486-9088
2-2 $45,000 40.9 SLL (lift) Barkhau (352) 408-7164
2-3 $55,000 40.9 FS Faatz (201) 697-3114
3-3 $75,000 OBO 54.7 SLL (no lift) Hillman (214) 577-8195
4-2 $40,000 35.8 SLL (no lift) Murray (786) 512-7246
5-2 $69,000 49.9 SLL Forsythe (508) 962-4243
5-11 $48,000 50.8 SLL (lift) Hulle (954) 214-7812
6-1 $60,000 44.7 SLL Tannone
Beam Limitation 11.5
6-8 $55,000 44.7 SLL Gierc
Beam Limitation 11.5
For more info, please get in touch with Palm Cove's Marina Manager at [email protected] Closed Home Sales for the month were 154 down from 177 the previous month and up 6.1% from 164 the prior year. Cash Sales for the month were 61 down from 67 the previous month and down 16.4% from 73 the prior year. Median Sale Price for the month was $577,500 up from $570,000 the previous month and up 0.4% from $575,000 the prior year. Average Sale Price for the month was $720,604, down from $806,749 the previous month and down 7.9% from $782,127 the prior year. Median Time to Contract for the month was 48 days up from 33 days the previous month and up 92% from 25 days the prior year. Inventory (Active Listings) for the month was 713 homes up from 704 homes the previous month and up 54.3% from 462 listings for the same period last year.
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Dear Friends and Neighbors,
This monthly report is custom-designed to keep you updated on your home's value and sales activity within Palm Cove and throughout Martin County. We hope that you find it useful.
Here's some news you can use:
Primary Mortgage Market Survey
Mortgage Rates Tick Up!
The decline in mortgage rates has stalled due to a mix of escalating geopolitical tensions and a rebound in short-term rates, which indicate that the market’s enthusiasm for rate cuts was premature.- The 30-year fixed-rate mortgage averaged 6.12%, up 0.04% from the previous week. At this time, a year ago, the 30-year FRM averaged 6.86%.
- The 15-year fixed-rate mortgage averaged 5.25% up 0.09% from the previous week. At this time, a year ago, the 15-year FRM averaged 6.13%.
Lower mortgage rates significantly impact the Florida housing market. They can make home purchases more affordable by reducing monthly payments and allowing buyers to qualify for larger loans. This can stimulate demand and potentially drive home prices higher, especially in competitive areas like South Florida.
Mortgage rates have declined one and a half percentage points over the last 12 months, home price growth is slowing, inventory is increasing, and incomes continue to rise. As a result, the outlook for homebuyers this fall is improving and should continue through the rest of the year. ***************************************************************************** SAVE THE DATE Meet And Greet Event with the New Golf Course Owners and their team. November 8, 2024 from 6 pm to 8 pm at the Riverfront Clubhouse Enjoy complimentary Cocktails & hors d’oeuvres
Thank you for reading my monthly sales report and please be safe over the next few days. If you need transportation or something from the store, please do not hesitate to call me!
With Gratitude From Palm Cove's Biggest Fan,
Sara Crombie (772) 631.0960
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