Martin County Florida Condo Market Report for June 2012

Commentary:

The Martin County Florida Condo Market for June 2012 continues on a positive trend. Sales for June were a strong 62 units, which is the highest number of condo sales for a June in the past few years. Ant this with an inventory of available condos now the lowest since October of 205.  On another positive note, the median sales price rose to $141,250 reflecting some higher to moderate priced condos having sold.  This is the fourth month in a row we’ve had an increase in median prices.

The inventory is now down to 572 condos, down from the 668 condos that were on the market in June of 2011. The one month absorption rate is now at 9.23 months, while the three-month average is down to 8.40 months.  While it remains a somewhat challenging market for condos in Martin County, there are some signs of life as prices across the board have declined significantly. We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.  The June numbers are showing that the condo market is coming back to life and desirable units are in fact selling.

Our outlook for the Martin County condo market is fairly positive.  Buyers can get units at attractive prices and sellers have the ability to sell their units for today’s market value.

Martin County Florida Condo Market Report for June 2012

the Gabe Sanders real estate team

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

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