Below are the latest charts for Martin County Condominium real estate statistics as reported by the Realtor Association of Martin County.
The Definition of Absorption Rate:
Number of weeks it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. The absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.
The condo situation is a bit more complex in Martin County as we have a wide array of products available. Median prices show a slight uptick this past month, due mainly to the sale of some upper-end Ocean Front units. Overall, the inventory remains quite high and the seasonal slowdown in sales has begun. While the trend is definitely positive, we feel that this market continues to be in some difficulty.
the Gabe Sanders real estate team
Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties
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