Condominium Market Report for March 2011 in Martin County, Florida

Condo sales for March were greatly improved from February and even surpassed the stellar numbers we had in December.  Along with excellent sales numbers, inventory was down to levels last seen in 2005 along with a one-month absorption rate below 9 months.  Should this trend continue, then we have definitely turned the corner and the bottom of the market is behind us.  Unfortunately, the vast majority of sales have been on the lower end of the spectrum, driving the median prices even lower.  However, if inventory levels continue to decline, adequate pressure should be developed to stabilize prices.  What remains troubling on the horizon is the threat of additional foreclosure and short-sale properties coming on the market, which will have a negative impact on and rise in prices.

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Condominium Market Report for March 2011 in Martin County, Florida

the Gabe Sanders real estate team