Martin County Florida Condo Market Report for January 2013

Martin County Florida Condo Market Report for January 2013

 

Commentary:

The Martin County Florida Condo Market for January 2013 continues to have its difficulties while the residential segment of the Treasure Coast real estate market is showing positive signs.  Sales for January were only 39 condos, down from 54 in December.  Similar to last year’s 37 condo sales in January.  The inventory declined to 610 condos (Down 20 from December) which is 54 condos less than were available last year.  This is the first month of decreasing inventory after 3 months of increases.  The median sales price dropped to $95,000 for January of 2013 (Was 133,000 in Jan 2012).   While the median list price rose to $179,000.  Whether this is just seasonal drop during the holiday season remains to be seen.  Typically we get more higher end condo sales in the spring season.

The one month absorption rate jumped to 15.6 months, while the three-month average rose to 13.3 months.  Still a very challenging market for condo sellers.  But quite attractive opportunities for buyers.  We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

[singlepic id=3338 w=800 h=600 float=center]
  

 The Definition of Absorption Rate:
Number of months 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.

[singlepic id=3339 w=800 h=600 float=center]

[singlepic id=3340 w=800 h=600 float=center]

[singlepic id=3341 w=800 h=600 float=center]

 

Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Martin County Florida Condo Market Report for January 2013

the Gabe Sanders real estate team

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

For more information about Florida’s Treasure Coast Real Estate, visit us at:

Stuart Florida Real Estate


Martin County Florida Residential Market Report for January 2013

Martin County Florida Residential Market Report for January 2013

 

Commentary:

The Martin County Florida residential market report for January 2013 showed reduced sales activity which is mot unexpected as a result of slower activity from the holiday season.  But, we still showed stronger activity than for the past 3 January periods.  All this with an inventory of available homes now down by close to 50% from 2010.

Average and median sales prices were down for January.  The inventory of available homes finally showed a small increase of 49 homes.  This is positive news as the inventory was getting down to a point where there just wasn’t enough choices for willing buyers.  The one month absorption rate for January moved to 8.4 months, while the three-month average rose to 7.4 months.  A 6 month absorption rate is considered to be a balanced market, so we remain in a slight buyers market in Martin County.

February’s’s showing activity remains strong.  Some fairly positive economic data and strong positive Wall Street news should signal continuing positive real estate activity for the next few months.  Currently, I’m seeing issues with short sales as the banks seem to be reading the national statistics of increasing prices and are currently pricing many of their short sales at initially unacceptable levels.

Please feel free to contact us if you have any difficulty interpreting these charts.

[singlepic id=3342 w=800 h=600 float=center]

The Definition of Absorption Rate:
Number of months 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.

[singlepic id=3343 w=800 h=600 float=center]

[singlepic id=3344 w=800 h=600 float=center]

[singlepic id=3345 w=800 h=600 float=center]

 

Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Martin County Florida Residential Market Report for January 2013

the Gabe Sanders real estate team

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

For more information about Florida’s Treasure Coast Real Estate, visit us at:

Stuart Florida Real Estate

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, January 2013

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, January 2013

 

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Condo Sales for January 2013

 

For January 2013 in the 33455 Zip Code area of Hobe Sound, Florida :

 

There are currently 19 active condo listings. (Down by 7 condos from December)

[singlepic id=3296 w=600 h=600 float=center]

[singlepic id=3297 w=600 h=600 float=center]

 

8 Condo sales are pending and awaiting close or lender approval. (Decreased by 2 condos from December)

[singlepic id=3298 w=600 h=600 float=center]

 

  4 Condos sold in January (An increase of 2 condos from December)

[singlepic id=3299 w=600 h=600 float=center]

[singlepic id=3300 w=600 h=600 float=center]

[singlepic id=3301 w=600 h=600 float=center]

[singlepic id=3302 w=600 h=600 float=center]

 

The Hobe Sound condo market (Zip Code 33455) is the smallest segment of the Martin County real estate market.  With a significant further decrease in inventory, I don’t see any meaningful market activity coming from this segment in the spring.  For January, good strong closed and pending activity when considering only 19 available condos for sale in this market segment.

The one month absorption rate is down to 4.8 months, signifying a sellers market.  Generally, a 6 month absorption rate is considered to be a balanced market favoring neither the seller or buyer.

The January 2012 numbers were:  32 active listings, 3 pending sales and 5 closed sales.  Considering the inventory, the market activity for January of 2013 was better than the same month last year.



Search here for Hobe Sound Florida Real Estate for Sale ( Condos)
Search for Martin County Real Estate

Hobe Sound Florida Real Estate presented by:
Gabe Sanders

Hobe Sound Florida Market Report ZIP Code 33455 – Condo, January 2013

 

February 2013 market Update for Sugar Hill in Jensen Beach

February 2013 market Update for Sugar Hill in Jensen Beach

As of Feb. 23 2013, there are 4 homes on the market in Sugar Hill in Jensen Beach, FL.  Listing prices range from $329,000 to $499,000 with an average of $165.31 per sq. ft. of living area.

Currently, no homes are under contract.

There have been 4 homes sold in the past 12 months in Sugar Hill.  Sales prices ranged from $290,000 to $447,000 for an average of $114.99 per sq. ft. of living area.

Sugar Hill in Jensen Beach Florida

February 2013 market Update for Sugar Hill in Jensen Beach is an eye pleasing high elevation neighborhood filled with upscale homes in Jensen Beach. All homes have very spacious yards that are surrounded with gorgeous Florida foliage. Most homes are timeless architectural works of beauty! Houses range from 2 to 5 bedrooms and 2 to 5 bathrooms, so whatever size you are looking for, Sugarhill is sure to have it. The neighborhood is located just minutes from all that Jensen Beach has to offer, like the beautiful stretches of beach on Hutchinson Island, the fantastic shopping at the Treasure Coast Square Mall, many restaurants you are sure to love, and our ‘A’ rated schools for all grade levels!

Sugar Hill in Jensen Beach FloridaSugarhill has very reasonable HOA fees of only $500.00 per year.

Sugar Hill in Jensen Beach Florida

The current Martin County Schools for Sugar Hill are Jensen Beach Elementary School, Stuart Middle School and Jensen Beach High School

Sugar Hill in Jensen Beach Florida

 

Here are the currently available homes in February 2013 market Update for Sugar Hill in Jensen Beach

 

For any questions you may have about February 2013 market Update for Sugar Hill in Jensen Beach, please call the Gabe Sanders real estate team at 772-323-6996 or Contact Us Here

Jensen Beach Florida Real Estate

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

February 2013 market Update for Sugar Hill in Jensen Beach

Hobe Sound Florida Market Report ZIP Code 33455 – Residential, January 2013

Hobe Sound Florida Market Report ZIP Code 33455 – Residential, January 2013

 

Hobe Sound Real Estate Snapshot for ZIP Code 33455, Residential Sales for January 2013

 

For January 2013 in the 33455 Zip Code area of Hobe Sound, Florida :

There are currently 262 active listings. ( A decrease of 31 homes from December)

[singlepic id=3254 w=600 h=600 float=center]

[singlepic id=3255 w=600 h=600 float=center]

96 Residential sales are pending and awaiting close or lender approval (An increase of 12 homes from December)

[singlepic id=3256 w=600 h=600 float=center]

28 Homes Sold in January (A decrease of 17 homes from last month)

[singlepic id=3257 w=600 h=600 float=center]

[singlepic id=3258 w=600 h=600 float=center]

[singlepic id=3259 w=600 h=600 float=center]

[singlepic id=3260 w=600 h=600 float=center]

After a very strong fall and winter from the Hobe Sound residential real estate market (zip code 33455) of Martin County, January has started off with a bit of a whimper.  Closed sales were off and the inventory was also down.  Pending sales were the only bright spot with an increase of 12 homes under contract.

The current absorption rate for the Hobe Sound Florida Market Report ZIP Code 33455 dropped to 9.4 months.  Back to a buyer’s market again.  An absorption rate of 6 months is considered to be a balanced market favoring neither the buyer or seller.

The numbers for January 2012 were:  359 active listings, 78 pending sales and 22 closed sales.   Compared to last year, we have considerably stronger activity in January of 2013 with better numbers, especially considering a much smaller number of available homes (inventory).

 

Search here for Hobe Sound Florida Real Estate for Sale

Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team

 

 

Hobe Sound Florida Market Report ZIP Code 33455 – Residential, January 2013