Martin County Market Report through November 2009 – Residential

As expected, Residential (single family homes and town homes) absorption rates have crept up a little due to seasonal fluctuations. We expect this trend to continue for the next few months as the inventory will increase in late December and early January. Current trends are very positive for inventory and for at least the short term prices have started to increase (but not in all segments of our market).

Martin County Residential Absorption Rate

The Definition of Absorption Rate:
Number of weeks it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.

 

 

 

the Gabe Sanders real estate team

Stuart Florida Real Estate

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

Search the Martin County MLS

Martin County Residential Market Update

Below are the latest charts for Martin County Residential (Single Family) real estate statistics as reported by the Realtor Association of Martin County.

Martin County Residential Absorption Rate

The Definition of Absorption Rate:
Number of weeks it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.

Our inventory continues to decline and prices have leveled off and in certain isolated neighborhoods have begun to rise. We may very well be past the bottom. Careful monitoring of future trend datat will give us the answers.

 

the Gabe Sanders real estate team

Stuart Florida Real Estate

Residential Homes, Condos and Land

Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

 

Martin County Condominum Market Update

Below are the latest charts for Martin County Condominium real estate statistics as reported by the Realtor Association of Martin County.

Martin County Condominium Absorption Rate

The Definition of Absorption Rate:
Number of weeks it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.

The condo situation is a bit more complex in Martin County as we have a wide array of product available. Median prices show a slight uptick this past month, due mainly to the sale of some upper end Ocean Front units. Overall, the inventory remains quite high and the seasonal slow down in sales has begun. While, the trend is definitely positive, we feel that this market continues to be in some difficulty.

 

the Gabe Sanders real estate team

Stuart Florida Real Estate

Residential Homes, Condos and Land

Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

 

Martin County Condominium Market Report

Here are the graphs I’ve compiled from the latest Market Report for Martin County Residential Sales and Listings with data supplied by the Realtor Association of Martin County:

Our 3 month average absorption rate is now at 18.5 months. Single month average is 19.3 for June. Definitely trending in a positive direction. Ideal range for a balanced market is 6 months.

The Definition of Absorption Rate:
Number of weeks it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.
For June, the average sales price had an up tick for the first time in many months. This is mostly from the mix of condos sold rather than an a trend on sales prices. But, it is another positive sign. Listing prices continue to slide lower in reaction to the buyer demand.

For additional information about Martin County real estate on Florida’s Treasure Coast, please call (772) 323-6996 or visit us on the web at http://www.gabesanders.com/ or http://www.treasurecoastflhomes.com/. Our office is located at 1121 SE Ocean Blvd. in Stuart, Florida (Sewall’s Point); please ask for Gabe Sanders or .

Martin County Residential Market Report

Here are the graphs I’ve compiled from the latest Market Report for Martin County Residential Sales and Listings with data supplied by the Realtor Association of Martin County:

 

Our 3 month average absorption rate is now down below 14 months. Single month average is 13.7 for June. Definitely trending in a positive direction. Ideal range for a balanced market is 6 months.

The Definition of Absorption Rate:Number of weeks it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.

For June, the average sales price had an up tick for the first time in many months. This is mostly from the mix of homes sold rather than an a trend on sales prices. But, it is another positive sign. Listing prices have also started to trend higher.

 

For additional information about Martin County real estate on Florida’s Treasure Coast, please call (772) 323-6996 or visit us on the web at http://www.gabesanders.com/ or http://www.treasurecoastflhomes.com/. Our office is located at 2391 SE Ocean Blvd. in Stuart, Florida; please ask for Gabe Sanders.