May 2016 Monthly Market Detail Martin County Single Family Homes
The May 2016 Monthly Market Detail Martin County Single Family Homes had reduced closed and pending volume when compared to last year. Closed sales were down by 2.8% (was down by 4.3% in April). New pending sales decreased by 14.7% as compared to May of 2015 (Decreased by 0.3% in April).
Mixed signals with prices as the median sales price was up by 15.8% from last year (up by 6.7% in April) while the average price decreased by 3% (was up by 22.6% last month). I expect that prices will moderate to a much smaller rate of increase in the coming year.
The inventory of available single family homes increased from last month by 14 homes to 1,054 units for this month, this is 6.8% greater than last May. Current supply of homes is 5.1 months, for May of last year it was a 4.9 months supply. (This is a 4.1% increase from last year). Still a sellers market for Martin County single family home sales.
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May 2016 Monthly Market Detail Martin County Single Family Homes
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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