Martin County Florida’s single family home inventory in June declined for the fifth consecutive month, which is an indication of market improvement.
There are 2409 homes available through the Multiple Listing Service, a decrease of 71 homes from the previous month and 495 since January 2008. The month-to-month inventory declined 20.5 percent since January.
The current inventory reflects a 16-month supply at the current sales pace.
Martin County had 152 single family home sales in June, a 5 percent improvement from the 144 home sales in the month prior, and 12 percent above the 134 homes sold in June 2007.
To date, 754 homes have been sold by Realtors so far this year, a 4.3 percent increase from the 722 sales posted in the same period a year ago.
The median sales price of a home in Martin County in June fell to $234,950, a 3.1 percent increase over May’s $227,500, but 32.5 percent below the June 2007’s $337,000.
Condos sales in Martin County increased 22.2 percent in June, from 35 in June 2007 to 45 last month. Condo median prices fell 30.7 percent from $260,000 in June 2007 to $180,000 for June of 2008.
There are currently 1168 condos available for sale in the MLS as compared to 1281 in June of 2007.
These numbers show signs of positive activity in home and condo sales while showing that we’re not at the end of price declines yet. If inventory levels continue their decline, we should see a leveling of prices when absorption rates reach less than 9 months.
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Hello
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