August 2015 Monthly Market Detail Martin County Single Family Homes
The August 2015 Monthly Market Detail Martin County Single Family Homes showed some signs of weakness when compared to last year. Year to year closed sales were down by 8% (was up 13.7% in July). New pending sales decreased by 2.4% as compared to August of 2014 (decreased by 3.1% in July).
The median sales price was up by 9.6% from last year (up by 7.5% in July) while the average price increased by 10% (was up by 11.7% last month). Even with decreasing sales, the current lack of inventory is exerting significant upward pressure on single family home prices in Martin County.
The inventory of available single family homes increased from July 2015 by 58 homes to 1003 units this month, and this is also a 22.1% decrease from last August. Current supply of homes is 4.3 months, for July of this year it was a 4.5 months supply. (This is a 33% decrease from last year). The Martin County single family real estate market remains a strong sellers market. We are approaching our slower selling season for the upcoming holidays. It will be interesting to see if we can get any increase in inventory of available homes to sell.
Click here to view or download the full report:
August 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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