March 2014 Monthly Market Detail Martin County Single Family Homes
The March 2014 Monthly Market Detail Martin County Single Family Homes is showing some slower growth and even retracting in some areas (much like many other areas in FL this month). Year to year closed sales were off by 14.7% (was up 10.8% in February). New pending sales increased by 17.5% as compared to March of 2013 (decreased by 30.4% in February). An increase in the pending sales indicates a good possibility of better closed activity for the near future
The median sales price was up by 4% from last year (up by 5.7% in February) while the average price dropped by 25.1% (was down by 18.3% last month). This is a dramatic indication of the continued activity for the lower price ranges and a slower sales volume in the higher end luxury market.
The inventory of available single family homes increased from February 2014 by 61 homes to 1,429 units this month, representing a 12.2% increase from last March. Current supply of inventory rose to 7.5 months (a 2.9% decrease from last year). Hovering just outside of a balanced market for now with a slight advantage for buyers.
Click here to view or download the full report: March 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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