Martin County Florida Residential Market Report for February 2012

Commentary:

The Martin County Florida residential market report for February 2012 showed excellent results. The sales volume of 116 homes was the exact same as last year and up by 18 homes from January (98). The one month absorption rate was down to 11.85 months while the three month moving average is at 11.31 months. Activity remains high and I expect some fairly respectable numbers for the coming months.

Both average and median sales prices were up from January.  In fact, average sales prices have risen for the last two months.  Along with this trend, listing prices are also inching up, and have been rising for the past six months.  The inventory declined to 1375 residential units.  This is the lowest value since October of 2005, before the ‘bubble’.  The reduction of inventory is what is exerting strong pressure on possible price increases.  While a continuing trickle of distressed properties (short sales and foreclosures) are counteracting the upward price pressure.

Our outlook for Martin County remains optimistic as prices and rates remain at historic low levels. For sellers, homes are selling, and if priced and presented optimally, they are going quickly. Buyers are seeing historically low interest rates and very affordable quality homes in almost all price ranges.

Please feel free to contact us if you have any difficulty interpreting these charts.

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Residential Market Report for February 2012 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

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