February 2014 Monthly Market Detail Martin County Townhouses and Condos
February 2014 Monthly Market Detail Martin County Townhouses and Condos report showed some disappointing results as to volume of activity, though prices continued to soar. Year to year closed sales were down by 1% (was up by 4.3% in January) while new sales under contract (new pending sales) decreased by 27% (was down 20.9% in January).
The median sales price increased by 17.6% (was up by 15.2% in January) while the average sales price increased by 20.6% (was up 15.2% in January) as compared to February of 2013. These large price increases are most likely responsible for the drop in volume as many buyers are simply being priced out of the market.
The inventory of available townhouses and condos has decreased by 3 to 635 units from last month which is 15% less inventory than was available in February of 2013. With values going up as much as they have, I would have expected higher inventory levels. The current supply of inventory is 6.4 months (a 24.4% decrease from last year).
Click here to view or download the full report: February 2014 Monthly Market Detail Martin County Townhouses and Condos
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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