March 2014 Monthly Market Detail Martin County Townhouses and Condos
March 2014 Monthly Market Detail Martin County Townhouses and Condos report showed continued disappointing results as to both last year and the past few months. Year to year closed sales were down by 29.9% (was down by 1% in February) while new sales under contract (new pending sales) decreased by 9% (was down 27% in February).
The median sales price increased by 7.4% (was up by 17.6% in February) while the average sales price decreased by 11% (was up 20.6% in February) as compared to March of 2013. As the price increases moderate, I would expect to see some increased volume of closed and pending sales for the future.
The inventory of available townhouses and condos has decreased by 39 to 596 units from last month which is 13.2% less inventory than was available in March of 2013. With values going up as much as they have, I would have expected higher inventory levels. The current supply of inventory is 6.2 months (a 16.5% decrease from last year). Though down in volume from last year, this is still a balanced market that favors neither the buyer nor the seller.
Click here to view or download the full report: March 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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