Martin County Townhouses and Condos February 2017 Market Detail
Martin County Townhouses and Condos Market Detail for February 2017 continued with good closed activity and weaker future activity with reduced pending sales. Closed sales for the month were up by 1.0% (was up by 28.6% in January) while new sales under contract (new pending sales) were down by 6.8% from February 2016 (decreased by 15.6% in January).
Prices were down again for February as the median sales price decreased by 2.2% (was down by 15.6% in January) while the average sales price decreased by 14.4% (was down by 17.2% in January) as compared to February of 2016. 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 decreased by 14 units to 471 properties as compared to last month. This is 16.0% greater than the February 2016 inventory. Currently, there’s a 5.0 month supply of inventory (a 22.0% increase from last year which was 4.1 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 February 2017 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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