Last month existing home sales activity in both Palm Beach and St. Lucie counties dipped; however, what stood out more were the sharp declines in the volume of cash transactions. In Palm Beach County a total of 2,790 homes, including single-family and condos, sold during March, which equated to a nearly 7.8 percent year-over-year dip, according to Realtors Association of the Palm Beaches. Accounting for 1,520 of those sales were single-family homes. Of those sales, 579 represented cash deals, a 25 percent year-over-year decline. In Palm Beach County's condo sector 812 of the 1,270 sales that occurred last month were done so via cash. The total equates to a 15.6 percent drop in condo cash deals. To the north in St. Lucie County a total of 586 homes traded last month, a 4.4 percent year-over-year drop. Of the 493 single-family homes that sold, 146 were cash transactions. During March of last year there were 219 cash deals. Last month 55 condos were purchase in the county ...
- Palm Beach and St. Lucie counties experienced 7.8 and 4.4 percent year-over-year dips in home sales activity.
- All four of Palm Beach County's largest cities saw double-digit drops in total sales activity.
- The majority of home sales in St. Lucie County occur in Port St. Lucie.