January 2016 Monthly Market Detail Martin County Townhouses and Condos
January 2016 Monthly Market Detail Martin County Townhouses and Condos began 2016 with dissapointing closed volumes while also showing some very heft price increases. Closed sales were down by 20.2% (was up by 1.8% in December) and new sales under contract (new pending sales) were down by 33.9% from January 2014 (decreased by 23.9% in December). These decreases in closed and pending sales are a bit troubling for future months.
Even though the sales volume is off, prices continue to rise and very strong rates. The median sales price was up by 39.1% (was up by 27.1% in December) while the average sales price increased by 36.8% (was up by 9.2% in December) as compared to January of 2015.
The inventory of available townhouses and condos jumped up by 57 units to 468 properties as compared to last month. The third straight month of increased inventory, though this is still 14.4% below the January 2015 inventory. Currently, there’s a 4.4 month supply of inventory (a 6.4% decrease from last year). Still in a strong sellers market for townhouses and condos for Martin County. It will be interesting to see what happens as the inventory increases if sales continue their slower pace.
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January 2016 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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