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 May of 2025.
Eleven (11) homes are for sale in Palm Cove, unchanged from last month. Seven (7) homes were for sale during the same period last year. Two (2) homes are for rent, unchanged from last month.
There are four (4) homes under contract in Palm Cove. Four (4) homes have sold in Palm Cove year to date, compared to six (6) 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 (11)
NEW: 2381 SW Carriage Hill Terrace - 2,284 sq. ft. under air - $474,900
2394 SW Island Creek Trail - 1,513 sq. ft. under air - $585,000
NEW: 2381 SW Island Creek Tr - 2,037 sq. ft. under air - $615,000 - - New Wave Realty
855 SW Pebble Lane - 2,101 sq. ft. under air - $630,000- no pool - New Wave Realty
736 SW Pebble Lane - 2,045 sq. ft. under air - $675,000 - no pool
742 SW Palm Cove Drive- 2,216 sq. ft. under air - $735,000 pool & slip avail - New Wave Realty
2408 SW Island Creek Tr - 2,750 sq. ft. under air - $799,000
2119 SW Balata Terr - 3,699 sq. ft. under air - $1,495,000 $1,350,000 - New Wave Realty
1979 SW Balata Terr - 4,961 sq. ft. under air - $1,650,000 $1,590,000
58 SW Palm Cove Drive - 5,257 sq. ft. under air - $1,995,000 - New Wave Realty
166 SW Palm Cove Drive - 4,818 sq. ft. under air - $3,495,000
FOR RENT (2)
2371 SW Carriage Hill #103 - 1,600 sq. ft. under air - Avail June - December - $2,700 per month
2358 SW Island Creek Trail - 2,750 sq. ft. under air - $3,200 per month
PENDING (4)
856 SW Pebble Lane - 2,345 sq. ft. under air - $689,000 - no pool
2442 SW Island Creek Tr - 2,765 sq. ft u/a - $925,000 with pool
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 - $1,299,999
TOTAL SALES IN 2025 (4)
2610 SW Bridgeview Terr - 3,364 sq. ft. under air w/slip - $1,375,000 - sold $1,295,000
2381 SW Carriage Hill Terr #203 - 2,284 sq. ft. - ask $489,900 - sold $475,000
2385 SW Island Creek - 2,037 sq. ft. - $550,000 - sold $500,000 New Wave Buyer & Seller
982 SW Palm Cove Drive - 2,669 sq. ft. under air w/slip - last ask $749,000 - sold $735,000
Available Slip Certificates (5) 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
For more info, please get in touch with Palm Cove's Marina Manager at [email protected] Closed Home Sales for the month were 167, down from 154 the previous month, and down 15.2% from 197 during the same period the prior year. Cash Sales for the month were 93, down from 100 the previous month, and down 22.5% from 120 the prior year. Median Sale Price for the month was $600,000, up from $590,000 the previous month, and down 1.2% from $607,500 the prior year. Average Sale Price for the month was $1,134.264, up from $1,039,095 the previous month, and up 1.1% from $1,122.253 the prior year. Median Time to Contract for the month was 37 days, down from 41 days the previous month, and up 2.8% from 36 days the prior year. Inventory (Active Listings) for the month was 1,016, up from 1,005 the previous month, and up 51.9% from 669 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 MOVE DOWN
This week’s slight dip in mortgage rates—bringing the 30-year fixed average down to 6.85%—offers a modest boost to buyers along the Treasure Coast. While affordability remains tight due to elevated home prices, this small rate relief may encourage fence-sitters to re-enter the market, especially in popular areas like Stuart, Jensen Beach, and Palm City. - The 15-year fixed-rate mortgage averaged 5.99%. At this time, a year ago, the 15-year FRM averaged 5.88%.
Buyers who were previously priced out due to monthly payment concerns may now find a slightly more manageable entry point, particularly for mid-range homes and condos. However, the overall borrowing cost remains high compared to pre-2022 norms, and cash buyers continue to dominate the luxury and waterfront segments. Looking ahead, economists forecast mortgage rates will hover near current levels through summer, with gradual declines possible by late 2025—especially if inflation cools further and the Fed begins easing interest rates. For now, motivated sellers should continue leaning into strategic pricing and staging, while buyers may benefit from reduced competition and better negotiation leverage.
***************************************************************************** Palm Cove Market Update & Real Estate Insights
Summer is heating up, and so is our market here in Palm Cove Golf & Yacht Club! I’m excited to share that four homes are currently under contract—a great sign that buyers are active and ready to move. Even though we still have more homes for sale than we did this time last year, that extra inventory means more options for buyers—and more chances for sellers to shine. Well-staged, well-priced homes are getting attention and going under contract. The same trend is happening across Martin County. Buyers are jumping back in, especially with mortgage rates dipping slightly and more homes to choose from. It’s a good time to be thoughtful about how you list—and who you list with. As both a Palm Cove resident and a local real estate specialist, I understand our neighborhood's unique charm, value, and lifestyle benefits firsthand. I don’t just list homes here—I live, work, and invest in this community every day. That connection drives me to market and represent your home with the care and strategic insight it truly deserves. If you're considering selling, curious about your home’s value, or wondering how to approach this shifting market, I’d love to help. With personalized marketing, expert staging, and deep local knowledge, I’ll make sure your home is set up for success—and stands out from the rest. Call me for a private consultation at 772.631.0960.
Wishing all of you a Very Happy Summer!
Sara Crombie
New Wave Real Estate Group
Your Neighbor. Your Realtor. Your Advocate. |
