May 2015 Monthly Market Detail Martin County Single Family Homes
The May 2015 Monthly Market Detail Martin County Single Family Homes is starting to show the effects of the rapid price increases and reduced inventory. Year to year closed sales were down by 2.6% (was up 24.7% in April). New pending sales increased by 1.1% as compared to May of 2014 (increased by 23% in April).
The median sales price was down by 1.1% from last year (up by 5.1% in April) while the average price increased by 13% (was up by 14.9% last month). Beginning to show some weaknesss in what has been an exceptionally strong rate of price increases for the past two years.
The inventory of available single family homes decreased from April 2015 by 173 homes to 1087 units this month, and this is also a 23.5% decrease from last May. Current supply of inventory decreased to 4.8 months from April’s 5.6 months supply. (A 35.6% decrease from last year). The Martin County single family real estate market is back into a sellers market, though there are some major issues showing of late. Primarily the lack of inventory of available homes for sale.
Click here to view or download the full report:
May 2015 Monthly Market Detail Martin County Single Family Homes
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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