August 2016 Monthly Market Detail Martin County Townhouses and Condos

August 2016 Monthly Market Detail Martin County Townhouses and Condos had reduced sales volume and prices for August yet still remains a very active market.  Closed sales were up for this month, decreased by 4.8% (was up by 4.7% in July) while new sales under contract (new pending sales) were down by 8.7% from August 2014 (decreased by 15.2% in July).

Prices were also off for August as the median sales price decreased by 9.3% (was up by 8.8% in July) while the average sales price decreased by 8.2% (was up by 4.1% in July) as compared to August of 2015.  I think this is just a temporary situation as I feel prices will continue to rise for the near future.

The inventory of available townhouses and condos increased by 7 units to 377 properties as compared to last month.  This is 16.7% greater than the August 2015 inventory.  Currently, there’s a 3.9 month supply of inventory (an 25.8% increase from last year).  Still a strong sellers market for townhouses and condos in Martin County. A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory.

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August 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.

August 2016 Monthly Market Detail Martin County Townhouses and Condos