IMPORTANT PLEASE READ
It has come to my attention that some copies of the 2025 Palm Cove neighborhood phonebook may be missing pages. If you’ve received one of these incomplete copies, please get in touch with me directly at 772.631.0960, and I’ll replace it as soon as possible. I want to ensure everyone has a complete and accurate phonebook. Thank you for your understanding, and I appreciate your help in bringing this to my attention!
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PALM COVE HOME SALES REPORT:
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.
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 in November 2024.
Five (5) homes are for sale in Palm Cove, down two (2) from last month. One (1) home is for rent, unchanged from last month. Five (5) homes were for sale in the same period the previous year.
One (1) home is under contract in Palm Cove, down one (1) from last month. During the same period the previous year, no homes were under contract.
Four (4) homes sold in Palm Cove in November compared to one (1) home sale during the same period last year.
There have been fourteen (14) home sales and one (1) rental in Palm Cove year to date as compared to eleven (11) 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 (5)
2394 SW Island Creek Trail - 1,513 sq. ft. - $645,000
736 SW Pebble Lane - 2,045 sq. ft. - $665,000 - no pool
742 SW Palm Cove Drive- 2,216 sq. ft. - $735,000 pool and slip avail - New Wave Realty
982 SW Palm Cove Drive - 2,669 sq. ft. - $765,000 slip avail
2408 SW Island Creek Trail - 2,750 sq. ft. - $849,500
FOR RENT (1)
2358 SW Island Creek Trail - 2,750 sq. ft under air - $3,650 per month
PENDING (1)
2381 SW Carriage Hill Terr #203 - 2,284 sq. ft. - 489,900 - no pool
NOVEMBER SALES (4)
819 SW Pebble Lane - 2,208 sq. ft. - $719,000 - sold $690,000 - New Wave Realty
210 SW Hatteras Court - 3,431 sq. ft. - $1,345,000 - sold $1,300,000 - New Wave Realty
213 SW Palm Cove Drive - 4,597 sq. ft. - $1,495,000 - sold $1,430,000 - New Wave Realty
281 SW Hatteras CT - 4,806 sq. ft. - $1,575,000 - sold $1,500,000 NO SLIP - New Wave Realty
TOTAL SOLD YEAR TO DATE (14) 819 SW Pebble Lane - 2,208 sq. ft. - $719,000 - sold $690,000 - New Wave Realty
210 SW Hatteras Court - 3,431 sq. ft. - $1,345,000 - sold $1,300,000 - New Wave Realty
213 SW Palm Cove Drive - 4,597 sq. ft. - $1,495,000 - sold $1,430,000 - New Wave Realty
2440 SW Island Creek Trail - 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
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 (6) Number Asking Price Survey Length Contact 1-4 $52,000 41.4 SLL (lift) Allen (772) 486-9088
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 134, down from 155 the previous month and down 16.3% from 160 the prior year. Cash Sales for the month were 63, down from 73 the previous month and down 14.9% from 74 the prior year. Median Sale Price for the month was $615,000 up from $600,000 the previous month and up 7.5% from $572,000 the prior year. Average Sale Price for the month was $957,904 up from $877,388 the previous month and up 19.6% from $800,893 the prior year. Median Time to Contract for the month was 59 days, unchanged from the previous month and up 103.4% from 29 days the prior year. Inventory (Active Listings) for the month was 767 up from 742 homes the previous month and up 43.1% from 536 listings for the same period last year.
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Here's some more news you can use:
Primary Mortgage Market Survey
“The 30-year fixed-rate mortgage moved down this week, but not by much,” said Sam Khater, Freddie Mac’s Chief Economist. “Rates have been relatively flat over the last few weeks as the market waits for more clarity on specific economic policies. Potential homebuyers are also waiting on the sidelines, causing demand to be lackluster. Despite the low sales activity, inventory has only modestly improved and remains dramatically undersupplied.”- The 30-year fixed-rate mortgage averaged 6.81%, down 0.03% from the previous week. At this time, a year ago, the 30-year FRM averaged 6.73%.
- The 15-year fixed-rate mortgage averaged 6.01% up 0.28% from the previous week. At this time, a year ago, the 15-year FRM averaged 5.98%.
***************************************************************************** Dear Palm Cove Friends and Neighbors,
As the year comes to a close, I want to take a moment to express my deep gratitude to my friends and neighbors here in Palm Cove. It has truly been an honor for New Wave Realty to assist with 13 of the 14 home sales in our beautiful community this year. Being part of these milestones and helping so many of you has been both a privilege and a joy. Thank you for trusting us with such an important chapter in your lives. With the holidays upon us, many of you may be hosting family and friends who are falling in love with all that Florida has to offer. If they’re interested in renting or owning a home in our sunshine state, I’d be delighted to assist them in finding the perfect place to call home—whether for a season or a lifetime. Here’s to celebrating our wonderful neighborhood. We look forward to even more shared success in the new year and wish you all a warm and joyful holiday season! Warmly,
Sara Crombie
New Wave Real Estate Group
772-631-0960
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