November 2015 Monthly Market Detail Martin County Single Family Homes
The November 2015 Monthly Market Detail Martin County Single Family Homes continues to show improvement both annually and monthly. Year to year closed sales were up by 6.5% (was up 13.4% in October). New pending sales increased by 4.9% as compared to November of 2014 (decreased by 19% in October).
Prices continue their upward march. The median sales price was up by 13.0% from last year (up by 15.6% in October) while the average price increased by 30.6% (was up by 12.3% last month). This very strong price trend is a bit troubling as it seems to be at much to high of a pace to be sustainable for the long run. I expect some moderation of these increases in the near future.
The inventory of available single family homes decreased from last month by 33 homes to 1129 units this month, and this is inventory is 10.4% less than last November. Current supply of homes is 4.8 months, for October of this year it was a 4.9 months supply. (This is a 21.5% decrease from last year). The Martin County single family real estate market remains in a sellers market. I was hoping for another month of increasing inventory, but this hasn’t happened. Possibly for December and/or January we’ll have some additional homes for sale.
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November 2015 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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