Martin County Townhouses and Condos December 2016 Market Detail
Martin County Townhouses and Condos Market Detail for December 2016 had a sizeable drop in closed sales while future (pending sales) increased. Closed sales for the month were down by 26.2% (was up by 8.5% in November) while new sales under contract (new pending sales) were up by 11.8% from December 2015 (decreased by 15.8% in November).
Prices were mostly flat or down for December as the median sales price decreased by 4.4% (was up by 1.8% in November) while the average sales price increased by 0.9% (was down by 18.1% in November) as compared to December of 2015. Not totally unexpected with the rapid rise of prices for the past three years as there may be a small correction taking place. Though this market is till active.
The inventory of available townhouses and condos increased by only 1 unit to 427 properties as compared to last month. This is 14.2% greater than the December 2015 inventory. Currently, there’s a 4.6 month supply of inventory (a 24.3% increase from last year which was 3.7 months). Still a sellers market for townhouses and condos in Martin County. A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory.
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Martin County Townhouses and Condos December 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.
Thanks for the info.