Martin County Florida Condo Market Report for September 2011

Commentary:

The Martin County Florida condo market report for September 2011 shows generally negative results from last month as well as last year.  About the only good news was a slightly higher median sales price from September 2010.  Unfortunately, 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 now over 15 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.

Condo Market Report for September 2011 in Martin County, Florida

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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