March 2016 Monthly Market Detail Martin County Townhouses and Condos
March 2016 Monthly Market Detail Martin County Townhouses and Condos showed reduced sales volume primarily because of lower inventory and a continued rise in values. Closed sales were down by 11.2% (was down by 2.0% in February) and new sales under contract (new pending sales) were down by 5.9% from March 2014 (decreased by 7.5% in February). Though this is still a very active real estate market.
The median sales price was up by 26.6% (was up by 2.1% in February) while the average sales price increased by 40.3% (was up by 13.3% in February) as compared to March of 2015. Very strong price gains that are impacting some folks ability to afford condos and townhouses in Martin Count.
The inventory of available townhouses and condos dropped by 13 units to 398 properties as compared to last month. The second monthlyt drop after three straight months of increased inventory. This is 7.0% below the March 2015 inventory. Currently, there’s a 4 month supply of inventory (a 2.4% decrease from last year). Still in a strong sellers market for townhouses and condos for Martin County.
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March 2016 Monthly Market Detail Martin County Townhouses and Condos
To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.
Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.
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