November 2015 Monthly Market Detail Martin County Townhouses and Condos
November 2015 Monthly Market Detail Martin County Townhouses and Condos is showing weaker closed activity year to year for the second month in a row. Closed sales were down by 18.7% (was down by 5.7% in October) and new sales under contract (new pending sales) were down by 5.7% from November 2014 (decreased by 12.9% in October).
Even though the sales volume is off, prices continue to rise and very strong rates. The median sales price was up by 18.4% (was up by 4.0% in October) while the average sales price increased by 38.2% (was down by 2.2% in October) as compared to November of 2014.
The inventory of available townhouses and condos has increased by 25 units to 398 properties from last month. It’s good to see some increased inventory, though this is still 20.3% below the November 2014 inventory. Currently, there’s a 3.7 month supply of inventory (a 20.3% decrease from last year). Still in a strong sellers market for townhouses and condos for Martin County. We are heading into the slower season for condo sales and I expect to see a little more weakening for our market until after the holidays.
Click here to view or download the full report:
November 2015 Monthly Market Detail Martin County Townhouses and Condos
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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