Martin County Townhouses and Condos March 2017 Market Detail
Martin County Townhouses and Condos Market Detail for March 2017 had a bit slower closed sales for the month as compared to last year, while new pending activity looks good. Closed sales for the month were down by 2.5% (was up by 1.0% in February) while new sales under contract (new pending sales) were up by 8.8% from March 2016 (decreased by 6.8% in February).
Prices were down again for March as the median sales price decreased by 13.0% (was down by 2.2% in February) while the average sales price decreased by 19.6% (was down by 14.4% in February) as compared to March 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 26 units to 445 properties as compared to last month. This is 12.9% greater than the March 2016 inventory. Currently, there’s a 4.7 month supply of inventory (a 17.5% increase from last year which was 4.0 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 March 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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