Martin County Single Family Homes October 2016 Market Detail
The Martin County Single Family Homes Market Detail for October 2016 continues to show reduced sales volume when compared to last years figures, yet don’t mistake this as a weak market, as it remains quite robust. Closed sales were down by 10.7% (was down by 9.2% in September). New pending sales decreased by 0.6% as compared to October of 2015 (Decreased by 1.6% in September).
For October there were mixed signals about prices with the median sales price rising by 0.9% from last year (up by 12.4% in September) while the average price decreased by 12.1% (was down by 8.1% last month). Typically this is a result of higher prices in the lower valued range of home sales and fewer sales in the luxury market.
The inventory of available single family homes increased from last month by 19 homes to 1004 units for October, this is 3.9% greater than last October. Current supply of homes is 5.1 months, for October of last year it was a 4.6 months supply. (This is a 10.9% increase from last year). Still a sellers market for Martin County single family home sales. A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory.
Click here to view or download the full report:
Martin County Single Family Homes October 2016 Market Detail
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.
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