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 Martin County's public records, the following home sales activity occurred in Palm Cove Golf & Yacht Club in February 2025.
Twelve (12) homes are for sale in Palm Cove, up four (4) from last month. Six (6) homes were for sale in the same period the previous year. One (1) home is for rent, unchanged from last month.
Three (3) homes are under contract in Palm Cove, compared to one (1) home during the same period last year. One (1) home sold in Palm Cove in January compared to two (2) home sales in the same period last year.
Below is a breakdown of properties by type, the number for sale, and list prices.
SUMMARY:
FOR SALE (12)
2379 SW Island Creek Trail - 1,513 sq. ft. under air - $534,900 $519,900 - Reduced
2394 SW Island Creek Trail - 1,513 sq. ft. under air - $645,000 $620,000
855 SW Pebble Lane - 2,101 sq. ft. under air - $640,000 - no pool - New Wave Realty
NEW 856 SW Pebble Lane - 2,345 sq. ft. under air - $689,000 - no pool
742 SW Palm Cove Drive- 2,216 sq. ft. under air - $735,000 pool & slip avail - New Wave Realty
NEW 119 Sw Hatteras Ct - 2,860 sq. ft. under air - $1,249,000 - New Wave Realty
254 SW Harbor View Dr - 3,651 sq. ft. under air - $1,399,000
NEW 2119 SW Balata Terr - 3,699 sq. ft. under air - $1,495,000 - New Wave Realty
2610 SW Bridgeview Terr - 3,364 sq. ft. under air w/slip - $1,650,000 $1,600,000
NEW 1979 SW Balata Terr - 4,961 sq. ft. under air - $1,650,000
58 SW Palm Cove Drive - 5,257 sq. ft. under air - $2,100,000 - New Wave Realty
166 SW Palm Cove Drive - 4,818 sq. ft. under air - $4,125,000
FOR RENT (1)
2358 SW Island Creek Trail - 2,750 sq. ft under air - $3,650 per month
PENDING (3)
2385 SW Island Creek Trail - 2,037 sq. ft. - last ask $550,000 - New Wave Realty
736 SW Pebble Lane - 2,045 sq. ft. - last ask $665,000
982 SW Palm Cove Drive - 2,669 sq. ft. under air w/slip - last ask $749,000
TOTAL SALES IN 2025 (1)
2381 SW Carriage Hill Terr #203 - 2,284 sq. ft. - ask $489,900 - sold $475,000
Available Slip Certificates (6) Number Asking Price Survey Length Contact 1-4 $52,000 41.4 SLL (lift) Allen (772) 486-9088
5-1 $70,000 49.8 SLL McCluskey (772) 214-8460
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 (860) 490-9724
Beam Limitation 11.5
6-8 $50,000 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 115, down from 176 the previous month, and up 7.5% from 107 the prior year. Cash Sales for the month were 56, down from 85 the previous month, and up 7.7% from 52 the prior year. Median Sale Price for the month was $619,000, up from $585,000, the previous month and up 8.6% from $570,000 the prior year. Average Sale Price for the month was $1,253,871, up from $828,809, the previous month, and up 22.5% from $1,023,396 the prior year. Median Time to Contract for the month was 52 days, up from 42 days the previous month, and up 4% from 50 days the prior year. Inventory (Active Listings) for the month were 892, up from 829 the previous month, and up 40.3% from 636 listings for the same period last year.
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Here's some more news you can use:
Primary Mortgage Market Survey
MORTGAGE RATES continue to drop - This week, mortgage rates decreased to their lowest level in over two months. The drop in mortgage rates, combined with modestly improving inventory, is an encouraging sign for consumers in the market to buy a home.
- The 30-year fixed-rate mortgage averaged 6.76%, up 0.09% from the previous week. At this time, a year ago, the 30-year FRM averaged 6.75%.
- The 15-year fixed-rate mortgage averaged 5.94% up 0.1% from the previous week. At this time, a year ago, the 15-year FRM averaged 5.98%.
***************************************************************************** A Note to My Friends & Neighbors in Palm Cove Hello, Palm Cove! As we head into spring, the Martin County real estate market continues to shift, with home prices trending downward and inventory increasing significantly. Right here in Palm Cove, the number of available homes has doubled over the past year. While higher interest rates and insurance costs remain challenges for buyers, well-positioned properties are still selling—especially in desirable communities like ours. At New Wave Realty, we know that the right pricing strategy and expert home presentation can make all the difference. If you’ve been thinking about selling, our unique services are designed to help you maximize your home’s value and stand out in this evolving market. And if you’re looking to buy, let’s find you the perfect home before summer arrives! I want to take a moment to thank you for your trust and support over the years. Whether you’re considering a move, curious about your home’s current value, or simply need expert advice, I’m always here to help. A quick reminder: Daylight Saving Time begins this Sunday—don’t forget to set your clocks forward! And of course, wishing you all a fun and festive St. Patrick’s Day! If I can assist you or someone you know with buying, selling, or investing, let’s connect! Call or text me anytime. Warmly,
Sara Crombie
772.631.0960
New Wave Real Estate Group |
