Martin County Florida Residential Market Report for December 2011

Martin County Florida Residential Market Report for December 2011

 

Commentary:

The Martin County Florida residential market report for December 2011 ends the year on a very positive note.  Sales volume (160 units) was up as compared to both last year (148) and last month (135).  The one month absorption rate is down to just under 9 months.  This is the best value for a December time period since the current housing difficulties started.

Average sales price was down slightly from last year, while the median is up by a little.  Basically, for the market as a whole, it appears that prices have stabilized. Listing prices for december were up (both average and median) as sellers fel that the market has strengthened and are trying to get the best possible value for their homes.  It remains to be seen if they will be successful.   This was another month of increasing inventory as we are up to 1426 homes available compared to 1364 in November, but still better than the 1800 home inventory we had in December of 2010, and considerably down from the peak of 2980 homes in March of 2007.

Our outlook for Martin County remains cautiously optimistic as prices and rates remain at historic low levels. For sellers, homes are selling, and if priced and presented optimally, they are going quickly.  Buyers are seeing historically low interest rates and very affordable quality homes in almost all price ranges.

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

Click on the individual charts to see charts in expanded mode.

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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.

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Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Residential Market Report for December 2011 in Martin County, Florida

the Gabe Sanders real estate team

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

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Palm City Florida Market Report ZIP Code 34990 – Residential, December 2011

Palm City Florida Market Report ZIP Code 34990 – Residential, December 2011

 

Palm City Real Estate Snapshot for ZIP Code 34990, Residential Sales for December 2011

 

For December, 2011 in the 34990 Zip Code area of Palm City Florida :


There are currently 478 active listings (Increased by 10 homes from November)

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114 Residential sales are pending and awaiting close or lender approval. (A decrease of 30 homes from last month)

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57 Homes Sold in December (An increase of 21 homes sold from November)

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For the Palm City, zip code 34990, area of Martin County Florida, it was a strong month for closed sales.  Unfortunately, it was also the second month of increasing inventory (active listings) and also a decrease in pending sales for the future.  Comparing these numbers to December of 2010, when there were 577 active listings, 110 pending sales and 45 homes sold, we are in a better position in all categories.  With the height of the snow bird season coming, we should see some increase in activity.  The Palm City market, however, is not as seasonally influenced as our more coastal areas as this market is heavily influenced by family areas that tend not to be as seasonal, with an increase in activity normally more towards the spring and summer seasons.

 

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Palm City Florida Market Report ZIP Code 34990 – Residential, December 2011

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, December 2011

Jensen Beach Florida Market Report ZIP Code 34957 – Condo, December 2011

 

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Condo Sales for December 2011

 

For December, 2011 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :
(Due to technical difficulties the November Market Snapshot data was unavailable)

 

There are currently 65 active listings. (Up 6 from November)

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11 Condo sales are pending and awaiting close or lender approval. (Down 1 condo from November)

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6 Condo Sold (An increase of 4 condos from November)

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After two months of disappointing results for the Jensen Beach condo market report (ZIP Code 34957) we’ve had a slight improvement for December.   Inventory, unfortunately has also been creeping back up which will continue to exert some strong negative price pressures.  There does appear to be increasing activity as the season approaches and we’ll see if the market picks up for 2012.


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Jensen Beach Florida Market Report ZIP Code 34957 – Condo, December 2011

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, December 2011

Jensen Beach Florida Market Report ZIP Code 34957 – Residential, December 2011

 

Jensen Beach Real Estate Snapshot for ZIP Code 34957, Residential Sales for December 2011

 

For December, 2011 in the 34957 Zip Code area of Jensen Beach, Florida :

 

There are currently 279 active listings. (An decrease of 3 homes from last month)

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75 Residential sales are pending and awaiting close or lender approval. (A decrease of 5 homes from November)

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25 Homes Sold (Up 9 from November)

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The Jensen Beach real estate market (ZIP Code 34957) showed a small decrease in inventory this month, yet is still more than 40 homes less than last December, while having a greater number of sales than last year (an increase from last month).  Also almost 20 more pending sales from last December which is a slight decrease from last month.
Of the closed sales in the past few months, there are a significantly higher number of homes in the medium to upper price ranges as compared to the past few years, showing a renewed interest in the medium and upper end of the market. Provided the numbers for distressed homes don’t increase in 2012, we should see continued growth and good activity in the Jensen Beach, Florida real estate market.

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Jensen Beach Florida Market Report ZIP Code 34957 – Residential, December 2011

Stuart Florida Market Report ZIP Code 34994 – Condo, December 2011

Stuart Florida Market Report ZIP Code 34994 – Condo, December 2011

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for December 2011

For December, 2011 in the 34994 Zip Code area of Stuart, Florida :

 

There are currently 153 active condo listings (Up 7 condos from November).

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35 Condo sales are pending and awaiting close or lender approval. (Unchanged from last month)

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13 Condos Sold in December (Up 3 units from November).

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The Stuart condo market for the area in ZIP code 34994 continues to show some weakness but had some better results than for November of 2011.  The inventory continued to increase, pending sales remained unchanged and the sales were up by 3 condos.  Compared to December of 2010, when there were 177 active listings, 46 pending sales and 19 closed sales, this segment of the condo market is continuing to struggle, especially as compared to the equivalent single family market in the area.

How much of this market trend can be attributed to the slower holiday season is not known at this point. In the next few months, the peak season for condos will show what the market can bear for the 2012 Treasure Coast condo sales season.

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Stuart Florida Market Report ZIP Code 34994 – Condo, December 2011