Condominium Market Report for May 2011 in Martin County, Florida

Condominium Market Report for May 2011 in Martin County, Florida

The Martin County  market activity in the condo real estate segment of the market remains fairly positive as to numbers.  Sales were just about unchanged from last year (up 1 unit), which was artificially inflated by the governments’ first time buyers assistance program.  Inventory levels dropped again and continues a positive trend.  Less inventory means less supply.  If demand picks up at all in the near future, this will signal the start of rising prices.  Unfortunately, at present, prices are still falling, though not nearly as severely as in the past few years.  One month absorption rate is at 12 months, a good improvement from last years 15 months.

To view these graphs in expanded mode just click anywhere in the chart.  Click again to close.

Martin County Condominium Statistics

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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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condo price trend

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See the full set of charts at Treasure Coast FL Homes

Condominium Market Report for May 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

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

Stuart Florida Real Estate or Treasure Coast FL Homes

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