Martin County Home Sales Report December 2013
Commentary:
The Martin County Home Sales Report for December 2013 showed quite impressive results to end of a very good year for local residential home sales. Closed sales were up to 192 homes as compared to last month’s 147 homes and also from last years 166 homes. The average and median sales prices were down from last month, though significantly higher than last December.
The one month absorption rate for December 2013 decreased significantly to 6.31 months (from 7.92 months in November and 6.93 months for December 2012), and the three-month average is now 6.96 months. A 6 to 7 month absorption rate is considered to be a balanced market. Currently a balanced market, which is a healthy market!
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Absorption Rate for Martin County Home Sales Report December 2013
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.
Volume Graph for Martin County Home Sales Report December 2013
Price chart for Martin County Home Sales Report December 2013
Trend for Martin County Home Sales Report December 2013
Data compiled from the Realtor Association of Martin County
Martin County Home Sales Report December 2013
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