Martin County Single Family Homes May 2020 Market Report

Martin County Single Family Homes May 2020 Market Report

The Martin County Single Family Homes Market Report is now showing the effects of the current pandemic. Closed sales are down for the month when compared to last year. Though there is a glimmer of hope as new pending sales rose. Closed sales were down by 50.0% from last month (were down by 25.3% in March).  While new pending sales increased by 21.8% as compared to last month when they decreased by 49.8%.

Prices were mixed for April.  The median sales price was down from last year by 3.9% (it was down by 3.6% in April) while the average sales price increased by 9.4% (it was down by 3.7% last month).

The inventory of available single-family homes decreased from last month by 63 homes to 902 homes for May. This is 15.8% less inventory than last May.  The current supply of homes is 4.8 months.  For April of last year, it was a 5.4 months supply.  We remain in a seller’s market for Martin County single-family home sales.  A balanced market favoring neither buyers or sellers is considered to be a 6 to 7 month supply of inventory.

Martin County Single Family Homes May 2020 Market Report

Click here to view the previous Martin County single-family homes market reports

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To view the latest set of reports from Florida Realtors for the state of Florida, Martin County, and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Martin County Single Family Homes May 2020 Market Report

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