July 2014 Monthly Market Detail Martin County Townhouses and Condos
July 2014 Monthly Market Detail Martin County Townhouses and Condos was basically flat in terms of activity as compared to last year. Year to year closed sales were unchanged (was up by 11.5% in June) as well as new sales under contract (new pending sales) also unchanged from July 2013 (was down 19.4% in June).
The median sales price decreased by 10.5% (was up by 3.1% in June) while the average sales price decreased by 7.4% (was down 4.9% in June) as compared to July of 2013. After nearly a year of pretty impressive price rises, values were off for the third month in a row indicating some weakness in this sector of the Martin County real estate market.
The inventory of available townhouses and condos has decreased by 24 to 534 units from last month which is also 3.4% less inventory than was available in July of 2013. The current supply of inventory is 5.3 months (a 3.4% decrease from last year). While we are still in a seller’s market for condos and townhomes, the decreasing inventory as well as flat sales activity and value drops are of concern.
Click here to view or download the full report: July 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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