February 2014 Monthly Market Detail Martin County Single Family Homes
The February 2014 Monthly Market Detail Martin County Single Family Homes continues with mostly positive news, though at a considerably reduced rate of appreciation and volume. New pending sales were off by 30.4% as compared to February of 2013 (decreased by 18.8% in January). The reduced number of pending sales are an possible indication of slower closed volume in the coming months. Year to year closed sales were up by 10.8% (was up 29.9% in January).
The median sales price was up by 5.7% from last year (up by 24.7% in January) while the average price dropped by 18.3% (was down by 8.5% last month). The slowing rate of appreciation will help future sales as the fairly dramatic increases of last year simply priced to many buyers out of the market.
The inventory of available single family homes increased from January 2014 to 1,368 units this month, and this is a 10.3% increase from last February. Current supply of inventory is only 7 months (a 9.6% decrease from last year). If this trend continues we’ll be back into a buyers market in Martin County for single family homes next month. Though indications of activity for March seem to be fairly positive.
Click here to view or download the full report: February 2014 Monthly Market Detail Martin County Single Family Homes
To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.
Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.
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