Martin County Florida Residential Market Report for September 2011

Commentary:

The Martin County Florida residential market report for September 2011 shows some negative results from last month.  Still slightly higher sales rate from September 2010, and also a bit higher average sales price (though the median sales price was down for September).  Unfortunately for the second month in a row, we’ve seen the inventory climb (although by relatively modest numbers).  It’s too early to tell if this is a new trend or just a seasonal fluctuation which often happens as sellers try to take advantage of a more active winter season in Martin County.

With the increased inventory and the reduced sales, our current one-month absorption rate is just under 12 months, swinging back into a pretty strong buyers market.  This will result in more downward pressure on sales prices and I don’t expect any improvement any time in the near future for those wishing to sell their home.

The big uncertainty remains, which is the economy.  We believe that if we have any sustained good news, we will see a pretty good rush on the market which will be a nice change from the present.  For the longer term, even though we have the best mortgage rates in history at the moment, inflation is making news and this is not good for rates down the line.  The Fed. is working hard to keep rates down, but for how long, we’re just not too sure.

Our outlook for Martin County is fairly positive as for buyers, prices and rates remain very attractive.  For sellers, it doesn’t look like we’re going to see any significant improvements soon, so if you need to sell, you may be better off now than possibly in the near future.

Click on the individual charts to see charts in expanded mode.

Residential Market Report for September 2011 in Martin County, Florida

the Gabe Sanders real estate team

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Martin County Florida Residential Market Report for August 2011

We’ve changed the scope of our charts for the Martin County Florida Residential market report from previous months. We are now going back to when we first started to record the data in 2004. This should give a much clearer picture of the trend and state of the market as a whole. You will need to click on each individual chart for an expanded view.

Residential sales were fairly steady for August, somewhat of a surprise as we typically see a decrease for the summer season for Martin County.  Sales were up from last year and both median and average sales prices were higher.  This is not yet an indication of rising values, but rather sales of higher values homes were reflected in the averages.  Inventory made its first increase in a number of years which is not a good sign should this trend continue.  An increase in supply (without a corresponding increase in demand) tends to drive values lower as basic supply and demand laws come into play.

The current uncertain economic climate is a very significant factor in keeping the market from making any significant improvement.

Residential Market Report for August 2011 in Martin County, Florida

the Gabe Sanders real estate team

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!