Martin County Florida Residential Market Report for September 2013
Commentary:
The Martin County Florida Residential Market for September 2013 continues to produce better results as compared to recent years. For September 2013, the inventory rose for the second month in a row signifying that some pent up seller demand is now once again re-entering the market as prices have started to increase. Though for September both median and average prices slid some, but this was more an indication of lower priced homes dominating sales for the previous month.
The one month absorption rate for September 2013 increased to 5.99 months (from 5.11 months in August), and the three-month average is now 5.4 months. A 6 month absorption rate is considered to be a balanced market, so we continue to be in a sellers market in Martin County. Considering the fact that we have entered our slower season, we continue to have better activity as compared to previous years.
Our overall market remains quite healthy as compared to previous years since the ‘bubble’. The unknowns for the future remain our economy for the nation as a whole.
Please feel free to contact us if you have any difficulty interpreting these charts.
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The Definition of Absorption Rate:
Number of months 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. 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.
Data compiled from the Realtor Association of Martin County
Martin County Florida Residential Market Report for September 2013
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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