April 2014 Monthly Market Detail Martin County Townhouses and Condos
April 2014 Monthly Market Detail Martin County Townhouses and Condos continues with reduced activity from last year, though still in a healthy range with a balanced blend of supply and demand. Year to year closed sales were down by 12.2% (was down by 29.9% in March) while new sales under contract (new pending sales) was unchanged from April 2013 (was down 9% in March).
The median sales price increased by 11.3% (was up by 7.4% in March) while the average sales price increased by 11.3% (was down 11% in March) as compared to April of 2013. Interestingly, prices continue to rise with momentum in the condo and townhouse segment of the market.
The inventory of available townhouses and condos has decreased by 17 to 579 units from last month which is also 10.2% less inventory than was available in April of 2013. With values going up as much as they have, I would have expected higher inventory levels. The current supply of inventory is 5.8 months (a 13.1% decrease from last year). Though down in volume from last year, this is still a balanced market that favors neither the buyer nor the seller.
Click here to view or download the full report: April 2014 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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