Real Estate Trends

Facts and Trends TM

Published May 2024*

Location:   Area 5300
Price Range:   $650,000 - No Limit
SQFT Range:   1600 - No Limit
Property Types:   Residential - Single Family Homes and Condo/Coop/Villa/Twnhse Combined - All Properties - All Properties - All Properties
Bedrooms:   0 - No Limit
Full Baths:   0 - No Limit
Half Baths:   0 - No Limit
Year Built:   0 - No Limit
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Prepared for you by: Laura Cole & Tana Gaskill


Number of Homes For Sale vs. Sold vs. Pended (Feb. 2023 - Apr. 2024)



  Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
  Apr. 24 Mar. 24 % Change Apr. 24 Apr. 23 % Change Feb. 24 to Apr. 24 Feb. 23 to Apr. 23 % Change
For Sale 23 26 -11.5% down 23 18 27.8% up 23 18 27.8% up
Sold 5 20 -75% down 5 13 -61.5% down 33 27 22.2% up
Pended 11 14 -21.4% down 11 13 -15.4% down 35 33 6.1% up

  TODAY’S STATS
  Current vs. Prev MTD Current vs. Same MTD 1 Yr Ago Current vs. Prev YTD
  5/1/24 - 5/11/24 4/1/24 - 4/11/24 % Change 5/1/24 - 5/11/24 5/1/23 - 5/11/23 % Change 1/1/24 - 5/11/24 1/1/23 - 5/11/23 % Change
For Sale 23 27 -14.8% down 23 14 64.3% up 23 14 64.3% up
Sold 2 2 0%     2 2 0%     42 35 20% up
Pended 2 1 100% up 2 3 -33.3% down 47 46 2.2% up


April 2024 was a Neutral market**
Home For Sale in April 2024 was 23 units. It was down 11.5% compared to last month and up 27.8% compared to last year.
Home Closed in April 2024 was 5 units. It was down 75% compared to last month and down 61.5% compared to last year.
Home Placed under Contract in April 2024 was 11 units. It was down 21.4% compared to last month and down 15.4% compared to last year.

**Buyer's market: more than 6 months of inventory based on closed sales. Seller's market: less than 3 months of inventory based on closed sales. Neutral market: 3 - 6 months of inventory based on closed sales.


Average Price per SQFT (Sold) (Feb. 2023 - Apr. 2024)



  Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
  Apr. 24 Mar. 24 % Change Apr. 24 Apr. 23 % Change Feb. 24 to Apr. 24 Feb. 23 to Apr. 23 % Change
Avg. Sq. Ft. Price (Sold) 423 500 -15.4% down 423 539 -21.5% down 494 472 4.7% up

  TODAY’S STATS
  Current vs. Prev MTD Current vs. Same MTD 1 Yr Ago Current vs. Prev YTD
  5/1/24 - 5/11/24 4/1/24 - 4/11/24 % Change 5/1/24 - 5/11/24 5/1/23 - 5/11/23 % Change 1/1/24 - 5/11/24 1/1/23 - 5/11/23 % Change
Avg. Sq. Ft. Price (Sold) 533 505 5.5% up 533 344 54.9% up 510 480 6.3% up


April 2024 Average Sold Price per Square Footage was Depreciating**
Average Sold Price per Square Footage in April 2024 was $423. It was down 15.4% compared to last month and down 21.5% compared to last year.

**Based on 6 month trend - Appreciating/Depreciating/Neutral.


Avg Days On Market & SP/Orig LP % (Feb. 2023 - Apr. 2024)



  Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
  Apr. 24 Mar. 24 % Change Apr. 24 Apr. 23 % Change Feb. 24 to Apr. 24 Feb. 23 to Apr. 23 % Change
Avg Days on Market 68 45 51.1% up 68 27 151.9% up 47 33 42.4% up
Sold/Orig LP Diff. % 92 88 4.5% up 92 92 0%     88 94 -6.4% down

  TODAY’S STATS
  Current vs. Prev MTD Current vs. Same MTD 1 Yr Ago Current vs. Prev YTD
  5/1/24 - 5/11/24 4/1/24 - 4/11/24 % Change 5/1/24 - 5/11/24 5/1/23 - 5/11/23 % Change 1/1/24 - 5/11/24 1/1/23 - 5/11/23 % Change
Avg Days on Market 20 5 300% up 20 51 -60.8% down 46 35 31.4% up
Sold/Orig LP Diff. % 78 100 -22% down 78 77 1.3% up 88 92 -4.3% down


April 2024 Average Days on Market trend Remains Steady**
Average Days on Market in April 2024 was 68. It was up 51.1% compared to last month and up 151.9% compared to last year.

April 2024 Sold/Original List Price Ratio Remains Steady**
Sold/Original List Price % in April 2024 was 92%. It was up 4.5% compared to last month and the same as compared to last year.

**Based on 6 month trend - Rising/Falling/Remains Steady.


Average Price of For Sale and Sold (Feb. 2023 - Apr. 2024)



  Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
  Apr. 24 Mar. 24 % Change Apr. 24 Apr. 23 % Change Feb. 24 to Apr. 24 Feb. 23 to Apr. 23 % Change
Avg. Active Price 1,851 1,684 9.9% up 1,851 1,791 3.4% up 1,772 1,759 0.7% up
Avg. Sold Price 1,313 1,448 -9.3% down 1,313 1,745 -24.8% down 1,469 1,406 4.5% up

  TODAY’S STATS
  Current vs. Prev MTD Current vs. Same MTD 1 Yr Ago Current vs. Prev YTD
  5/1/24 - 5/11/24 4/1/24 - 4/11/24 % Change 5/1/24 - 5/11/24 5/1/23 - 5/11/23 % Change 1/1/24 - 5/11/24 1/1/23 - 5/11/23 % Change
Avg. Active Price 2,011 1,448 38.9% up 2,011 1,856 8.4% up 2,011 1,856 8.4% up
Avg. Sold Price 1,718 1,453 18.2% up 1,718 783 119.4% up 1,536 1,425 7.8% up


April 2024 Average For Sale Price was Neutral**
Average For Sale Price (in thousand) in April 2024 was $1851. It was up 9.9% compared to last month and up 3.4% compared to last year.

April 2024 Average Sold Price was Neutral**
Average Sold Price (in thousand) in April 2024 was $1313. It was down 9.3% compared to last month and down 24.8% compared to last year.

**Based on 6 month trend - Appreciating/Depreciating/Neutral.


Months of Inventory Based on Closed Sales (Feb. 2023 - Apr. 2024)



  Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
  Apr. 24 Mar. 24 % Change Apr. 24 Apr. 23 % Change Feb. 24 to Apr. 24 Feb. 23 to Apr. 23 % Change
Months of Inventory (Closed Sales) 4.6 1.3 253.8% up 4.6 1.4 231.1% up 2.1 2 5% up

  TODAY’S STATS
  Current vs. Prev MTD Current vs. Same MTD 1 Yr Ago Current vs. Prev YTD
  5/1/24 - 5/11/24 4/1/24 - 4/11/24 % Change 5/1/24 - 5/11/24 5/1/23 - 5/11/23 % Change 1/1/24 - 5/11/24 1/1/23 - 5/11/23 % Change
Months of Inventory (Closed Sales) 4.1 5 -18.2% down 4.1 2.5 64.4% up 2.3 1.7 35.2% up


April 2024 was a Neutral market**
Months of Inventory based on Closed Sales in April 2024 was 4.6. It was up 253.8% compared to last month and up 231.1% compared to last year.

**Buyer's market: more than 6 months of inventory based on closed sales. Seller's market: less than 3 months of inventory based on closed sales. Neutral market: 3 - 6 months of inventory based on closed sales.


Date 2/23 3/23 4/23 5/23 6/23 7/23 8/23 9/23 10/23 11/23 12/23 1/24 2/24 3/24 4/24
For Sale 13 22 18 14 17 21 18 23 24 29 32 27 31 26 23
New Listing 12 14 10 7 10 13 8 12 12 17 8 9 18 14 12
Sold 2 12 13 12 8 3 8 12 4 5 9 7 8 20 5
Pended 14 6 13 7 6 6 7 7 6 8 8 11 10 14 11
Months of Inventory (Closed Sales) 6.5 1.8 1.4 1.2 2.1 7 2.3 1.9 6 5.8 3.6 3.9 3.9 1.3 4.6
Months of Inventory (Pended Sales) 0.9 3.7 1.4 2 2.8 3.5 2.6 3.3 4 3.6 4 2.5 3.1 1.9 2.1
Absorption Rate (Closed Sales) % 15.4 54.5 72.2 85.7 47.1 14.3 44.4 52.2 16.7 17.2 28.1 25.9 25.8 76.9 21.7
Absorption Rate (Pended Sales) % 107.7 27.3 72.2 50 35.3 28.6 38.9 30.4 25 27.6 25 40.7 32.3 53.8 47.8
Avg. Active Price 1,732 1,748 1,791 1,856 1,653 1,798 1,688 1,840 1,751 1,952 2,072 1,897 1,787 1,684 1,851
Avg. Sold Price 825 1,135 1,745 1,732 1,249 1,892 1,645 1,414 1,054 1,193 1,256 1,799 1,618 1,448 1,313
Avg. Sq. Ft. Price (Sold) 284 431 539 574 472 511 559 478 425 484 448 577 522 500 423
Sold/List Diff. % 89 99 93 91 98 96 96 95 94 89 93 91 94 93 99
Sold/Orig LP Diff. % 89 96 92 87 93 96 92 94 93 88 89 90 87 88 92
Avg Days on Market 12 43 27 47 20 27 46 16 52 40 63 49 40 45 68
Median Active Price 1,800 1,432 1,722 1,685 1,499 1,450 1,475 1,400 1,400 1,649 1,600 1,395 1,275 1,248 1,245
Median Sold Price 825 1,038 1,550 1,030 1,035 1,875 1,560 1,283 848 1,273 1,250 1,400 1,350 1,312 1,300

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*All reports are published May 2024, based on data available at the end of April 2024, except for the today’s stats. This representation is based in whole or in part on data supplied by Realtor Association of The Palm Beaches, Jupiter, Tequesta, Hobe Sound Association of Realtors, and St. Lucie Association of Realtors. Neither the Board nor its MLS guarantees or Neither the Boards nor its MLS guarantees or is in any way responsibles for its accuracy. Data maintained by the Board or its MLSs may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.