April 2014 Monthly Market Detail Martin County Single Family Homes
The April 2014 Monthly Market Detail Martin County Single Family Homes improved from a slow March though activity only slightly improved from last year. Year to year closed sales were up by only 0.5% (was down 14.7% in March). New pending sales decreased by 9.1% as compared to April of 2013 (increased by 17.5% in March). The decrease in pending sales is a bit troubling as it’s the main indicator of potential future closed sales.
The median sales price was up by 12.6% from last year (up by 4% in March) while the average price dropped by 19.3% (was down by 25.1% last month). This is a dramatic indication of the continued strong activity for the lower price ranges and a slower sales volume in the higher end luxury market.
The inventory of available single family homes decreased from March 2014 by 29 homes to 1,398 units this month, representing a 15% increase from last April. Current supply of inventory remains unchanged from last month at 7.5 months (a 4.8% increase from last year). Hovering just outside of a balanced market for now with a slight advantage for buyers.
Click here to view or download the full report: April 2014 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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