January 2016 Monthly Market Detail Martin County Single Family Homes
The January 2016 Monthly Market Detail Martin County Single Family Homes started 2016 with mixed results as compared to last year. Year to year closed sales were up by 6.0% (was down 9.6% in December). New pending sales decreased by 16% as compared to January of 2015 (Decreased by 10.6% in December).
The median sales price was up by 18.2% from last year (up by 5.3% in December) while the average price decreased by 18.2% (was up by 18.4% last month). I’m not sure how they came up with these results.
The inventory of available single family homes increased from last month by 53 homes to 1194 units this month, and this inventory is 9.1% less than last January. Current supply of homes is 5.1 months, for January of last year it was a 6.2 months supply. (This is a 18.5% decrease from last year). Continuing as a sellers market in Martin County. Though, the recent reduced rate of closed sales and an increasing inventory may soon have us back into a balanced market.
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January 2016 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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