Search Results for: st lucie county market report

December 2013 Monthly Market Detail Florida Townhouses and Condos

01.27.14 by

December 2013 Monthly Market Detail Florida Townhouses and Condos

For the December 2013 Monthly Market Detail Florida Townhouses and Condos for the state of Florida a second relatively weak month as compared to the end of 2012.  Though a bit improved from last month’s numbers.  Year to year closed sales were down by 2.5% as compared to last months decrease of 7.1% and new sales under contract (new pending sales) decreased by 8.7% (November’s decrease was 10.2%).December 2013 Monthly Market Detail Florida Townhouses and Condos

 

Both median and average sales prices were up (year to year) by 17% and 4.1% respectively.

Inventory rose for the second month in a row, though only marginally by 1.6%.  If the inventory keeps rising, I expect to see some increases in the sales volume and a leveling off or a moderation to the price increases we’ve experienced this past year.

Click on the link below or the graphic to see the full market detail report from Florida Realtors:

Click here to view or download the full report:
December 2013 Monthly Market Detail Florida 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.

December 2013 Monthly Market Detail Florida Townhouses and Condos

December 2013 Monthly Market Detail Florida Single Family Homes

01.24.14 by

December 2013 Monthly Market Detail Florida Single Family Homes

The December 2013 Monthly Market Detail Florida Single Family Homes as reported by Florida Realtors ended the year with mostly positive results as compared to 2012.  Both closed and pending sales were off.   Year to year closed sales were up by 8.6% (was down by 1.2 % in November) and new sales under contract (new pending sales) decreased by 4.2% (was down by 5.9% in October).

December 2013 Monthly Market Detail Florida Single Family Homes

Both median and average sales prices were up (December 2012 to December 2013) by 11.4% and 3% respectively.   Not quite as much of an increase as in previous months this year, but those kinds of increases were unsustainable.

The inventory of available homes for sale increased by 11.9% from last year.  This is now the third month of increased inventory.  I’ve written in the past that I was expecting this increase which is a direct cause of the easing of the price increases as the supply expands.  It does appear that even with the increasing inventory the traffic for the new year is quite high and I expect some strong results for next month.

Please look at the full detail report for the rest of the story:

Click here to view or download the full report:
December 2013 Monthly Market Detail Florida 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.

December 2013 Monthly Market Detail Florida Single Family Homes

Martin County Condo Sales Report for November 2013

01.02.14 by

Martin County Condo Sales Report for November 2013

 Commentary:

The Martin County Florida Condo Sales report for November 2013 showed some weakness, much like the Martin County Homes sales report.  Closed sales for November were unchanged from November of 2012 and were lower than last month.  The median price rose respectably from last month and was unchanged from last year.  Inventory rose for the third month in a row, yet still fewer condos available for sale from last year.

The one month absorption rate increased to 11.91 months from last months 9.93 months, while the three-month average is now at 10.57 months.  The condo market for Martin County continues to be a buyers market.  Generally an absorption rate of 6 or 7 months is considered a balanced market.

Weakness for the condo market is not that unusual for this time of the year.  The coming season should prove interesting as this segment has been fairly flat for the past few years, even though the numbers have risen somewhat.

Click on the charts for a larger view:

Martin County Condo Sales Report for November 2013

 The Definition of Absorption Rate:
Number of months it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.

Martin County Condo Sales Report for November 2013

Martin County Condo Sales Report for November 2013Martin County Condo Sales Report for November 2013

 Data compiled from the Realtor Association of Martin County

Martin County Condo Sales Report for November 2013

the Gabe Sanders real estate team

Condo Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

For more information about Florida’s Treasure Coast Real Estate, visit us at:

Stuart Florida Real Estate


Martin County Home Sales Report for November 2013

12.31.13 by

Martin County Home Sales Report for November 2013

 Commentary:

The Martin County Home Sales Report for November 2013 is showing mixed results.  Closed sales were down from last months 161 homes and also from last years 169 homes to 147 homes sold in November.  The average and median sales prices were up from last year but slightly down from last month.

The one month absorption rate for November 2013 increased to 7.92 months (from 6.86 months in October), and the three-month average is now 6.86 months.  A 6 to 7 month absorption rate is considered to be a balanced market.  Drifting back into a buyers market for the short term at least for residential sales in Martin County.

Please contact us if you have any difficulty interpreting these charts.
  Clicking on the chart will produce a larger view.
Martin County Home Sales Report for November 2013

 The Definition of Absorption Rate:
Number of months it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.Martin County Home Sales Report for November 2013Martin County Home Sales Report for November 2013 Martin County Home Sales Report for November 2013

Data compiled from the Realtor Association of Martin County

Martin County Home Sales Report for November 2013

the Gabe Sanders real estate team

Residential Home, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

For more information about Florida’s Treasure Coast Real Estate, visit us at:

Stuart Florida Real Estate

November 2013 Monthly Market Detail St Lucie County Townhouses and Condos

12.30.13 by

November 2013 Monthly Market Detail St Lucie County Townhouses and Condos

The November 2013 Monthly Market Detail St Lucie County Townhouses and Condos as reported by Florida Realtors showed  the third month in a row of decreases in sales volume from last years numbers.   Year to year closed sales were down by 17.5% (was down by 12.7% in October) while new sales under contract (new pending sales) decreased by 5.4% (was  down by 13.6% in October

Prices continued to rise however, year to year, with the median sales price up by 40% (up 14.3% in October) and the average sales price rose by 31.4% (was up by 26% in October).

November 2013 Saint Lucie County Condo and TownhouseThe inventory of available townhouses and condos increased from last month to 852 units which is a decrease of 7.8% from last November.  Current supply of inventory rose slightly from last month to 8.8 months (still a 7.8% decrease from last year).   This segment of the market continues to be a buyers market and  unless there’s a moderation in the price increases, I see no change in the easing of the volume of closed and pending sales.

 Click here to view or download the full report:
November 2013 Monthly Market Detail St Lucie 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.

November 2013 Monthly Market Detail St Lucie County Townhouses and Condos

November 2013 Monthly Market Detail St Lucie County Single Family Homes

12.29.13 by

November 2013 Monthly Market Detail St Lucie County Single Family Homes

The November 2013 Monthly Market Detail St Lucie County Single Family Homes as reported by Florida Realtors has moderated in the past couple of months as compared to last years activity.   Closed sales were up 3.3% from last year  (in October they were unchanged)  and new sales under contract (new pending sales) decreased by 23.9% (they were down by 6.9% last month).

Both median and average sales prices were up (year to year) by 13.6% and 18.7% respectively year to year. November 2013 Saint Lucie County Single Family

The inventory of active listings rose in November (from last month) to 2213 homes, still down by 14.1% from last year.  Current supply of inventory is only 5.1 months (a 14.1% decrease from last year).  We’re still in a seller’s market for the St. Lucie County single family market, but some easing appears to be in progress.  With the significant rise in prices as well as increasing mortgage rates, the current trend will continue to level.  I expect to see a balanced market for the near future with slower price increase.

Please click on the links below to read the full Saint Lucie County single family market detail:

 

Click here to view or download the full report:
November 2013 Monthly Market Detail St Lucie 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.

November 2013 Monthly Market Detail St Lucie County Single Family Homes

November 2013 Monthly Market Detail Martin County Townhouses and Condos

12.28.13 by

November 2013 Monthly Market Detail Martin County Townhouses and Condos

The November 2013 Monthly Market Detail Martin County Townhouses and Condos continues to showed some weakness of the year to year results.  This is the second month of mixed to poor results and mirrors some of the other counties as well as the state of Florida as a whole.  We are now well into our slower season, however we are comparing to last years results for the same period.   Year to year closed sales were down by 6.4% ( up by 1.1% in October) while new sales under contract (new pending sales) decreased by 1% (was down 36.2% in October).

The median sales price decreased by 0.2% (was up by 1.3% in October) while the average sales price dropped by 26.7% (was up 10.7% in October) as compared to November of 2012.November 2013 Martin County Condo and Townhouse

 The inventory of available townhouses and condos has increased to 624 units from last month, still under November 2012 inventory by 15.8%.  Current supply of inventory is 6.2 months (a 27.5% decrease from last year).  After several months of a seller’s market we are transitioning into a balanced market once again.  A balanced market is a healthy sign if it continues through the year.

 

 Click here to view or download the full report:
November 2013 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.

November 2013 Monthly Market Detail Martin County Townhouses and Condos

November 2013 Monthly Market Detail Martin County Single Family Homes

12.27.13 by

November 2013 Monthly Market Detail Martin County Single Family Homes

The November 2013 Monthly Market Detail Martin County Single Family Homes as reported by Florida Realtors showed strong closed activity and a small weakening of pending activity. When compared to the results from the state of Florida, martin County is doing very well.   Closed sales were up by 33.8% (was 8.5% in October) and new sales under contract (new pending sales) decreased by 4% (Increase of 36.2% in October).

The median sales price was up by 5.2% from last year while unfortunately the average declined by 7.2%.November 2013 Martin County Single Family

The inventory of available single family homes increased this month to 1271 units but this is still down by 4.5% from last November.  Current supply of inventory is only 6.7 months (a 12.4% decrease from last year).  We are now in a balanced market for residential sales in Martin County.  Considering that this is typically the slower season for Martin County, I’m expecting a return to a sellers market once the holiday season is over.

Please look at the full Martin County single family market detail by clicking on the links below:

 

Click here to view or download the full report:
November 2013 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.

November 2013 Monthly Market Detail Martin County Single Family Homes

November 2013 Monthly Market Detail Florida Townhouses and Condos

12.26.13 by

November 2013 Monthly Market Detail Florida Townhouses and Condos

The November 2013 Monthly Market Detail Florida Townhouses and Condos for the state of Florida showed a weakening of both closed and pending sales as compared to last year.  Year to year closed sales were down by 7.1% as compared to last months increase of 3.1% and new sales under contract (new pending sales) decreased by 10.2% (October’s decrease was 3.6%).

November 2013 Florida Condo and Townhouse

Both median and average sales prices were up (year to year) by 17.2% and 12.3% respectively.

For the first time in a while the inventory crept up slightly by 1.3%.  The reduced inventory is what is making prices rise as well as keeping sales volume down.  I expect both inventory and sales volume to increase in the coming year if the economic news continues to be positive.

Click on the link below or the graphic to see the full market detail report from Florida Realtors:

Click here to view or download the full report:
November 2013 Monthly Market Detail Florida 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.

November 2013 Monthly Market Detail Florida Townhouses and Condos

November 2013 Monthly Market Detail Florida Single Family Homes

12.24.13 by

November 2013 Monthly Market Detail Florida Single Family Homes

The Florida real estate market showed some weakness for the November 2013 Monthly Market Detail Florida Single Family Homes as reported by Florida Realtors.  Both closed and pending sales were off.   Year to year closed sales were down by 1.2% (were up by 6.5 % in October) and new sales under contract (new pending sales) decreased by 5.9% (was up by 3.4% in October).

Florida Single Family

Both median and average sales prices were up (November 2012 to November 2013) by 13.3% and 7.1% respectively.   Not quite as much of an increase as in previous months this year, but those kinds of increases were unsustainable.

The inventory of available homes for sale increased by 10% from last year.  This is now the second month of increased inventory.  I’ve written in the past that I was expecting this increase which is a direct cause of the easing of the price increases as the supply expands. I would like to see the volume of closed sales be higher and with the current excellent economic news, I expect these numbers to go up soon.

Please look at the full detail report for the rest of the story:

Click here to view or download the full report:
November 2013 Monthly Market Detail Florida 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.

November 2013 Monthly Market Detail Florida Single Family Homes

Martin County Florida Condo Market Report for October 2013

12.10.13 by

Martin County Florida Condo Market Report for October 2013

 

Commentary:

The Martin County Florida Condo Market for October 2013 showed better numbers than in previous years on a year to year comparison.  Still a bit slower than we would like.  Inventory increased this month to 546 units (the second month in a row with gains).  It was back in 2005 when we had steady inventory levels below 600 units.  The median sales price decreased significantly in October to one of the lowest numbers in years.  This value is more a result of the mix of sales for October which were mostly in the lower price ranges, rather than a decrease in values.   Currently, prices on average appear to be holding steady with different communities showing some small gains (as well as some losses) depending on the individual community.

The one month absorption rate decreased to 9.93 months from last months 10.04 months, while the three-month average is now at 9.81 months.  The condo market for Martin County continues to be a buyers market.  Generally an absorption rate of 6 or 7 months is considered a balanced market.

Potential higher interest rates remain troubling for the market in general, but is not as strong an issue for our condo market as we have a fairly high percentage of cash buyers.  Though, uncertainty with the economy is a big factor for vacation buyers potentially using their discretionary spending for these purchases.

Martin County Florida Condo Market Report for October 2013

Click on the charts for a larger view: 

 The Definition of Absorption Rate:
Number of months it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.Martin County Florida Condo Market Report for October 2013

Martin County Florida Condo Market Report for October 2013Martin County Florida Condo Market Report for October 2013

 

Data compiled from the Realtor Association of Martin County

Martin County Florida Condo Market Report for October 2013

the Gabe Sanders real estate team

Condo Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

For more information about Florida’s Treasure Coast Real Estate, visit us at:

Stuart Florida Real Estate


Martin County Florida Residential Market Report for October 2013

12.09.13 by

Martin County Florida Residential Market Report for October 2013

 

Commentary:

The Martin County Florida Residential Market for October 2013 continues to produce better results as compared to recent years.   For October 2013, the inventory rose again (the third month in a row) signifying that some pent up seller demand is now once again re-entering the market as prices continue to increase.  And for October 2013 there were some significant increases.  As the inventory increase, we should continue to see higher sales numbers from previous years, though the absorption rate will start to rise as well.

The one month absorption rate for October 2013 increased to 6.86 months (from 5.99 months in September), and the three-month average is now 5.93 months.  A 6 to 7 month absorption rate is considered to be a balanced market. After almost a full year of a sellers market we are now in a balanced market which is healthy for Stuart FL real estate.

Martin County Florida Residential Market Report for October 2013

Please feel free to contact us if you have any difficulty interpreting these charts.

  Clicking on the chart will produce a larger view.

 The Definition of Absorption Rate:
Number of months it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.Martin County Florida Residential Market Report for October 2013

 Martin County Florida Residential Market Report for October 2013

Martin County Florida Residential Market Report for October 2013

Data compiled from the Realtor Association of Martin County

Martin County Florida Residential Market Report for October 2013

the Gabe Sanders real estate team

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

For more information about Florida’s Treasure Coast Real Estate, visit us at:

Stuart Florida Real Estate

October 2013 Monthly Market Detail St Lucie County Townhouses and Condos

12.04.13 by

October 2013 Monthly Market Detail St Lucie County Townhouses and Condos

The October 2013 Monthly Market Detail St Lucie County Townhouses and Condos as reported by Florida Realtors showed  a second month drop from last years numbers.   Year to year closed sales were down by 12.7% (was down by 28.6% in September) while new sales under contract (new pending sales) decreased by 13.6% (was  down by 18% in September

Prices continued to rise however, year to year, with the median sales price up by 14.3% (up 12.6% in September) and the average sales price rose by 26% (was up by 14.6% in September).October 2013 Monthly Market Detail St Lucie County Townhouses and Condos

The inventory of available townhouses and condos increased from last month to 835 units which is a decrease of 8% from last October.  Current supply of inventory is now 8.5 months (a 9.7% decrease from last year).   This segment of the market continues to be a buyers market and I anticipate some moderation in price increases in the coming months unless the sale volume picks up.

Please see the entire Saint Lucie County townhouse and condo market detail by clicking the links below:

 

Click here to view or download the full report:
October 2013 Monthly Market Detail St Lucie 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.

October 2013 Monthly Market Detail St Lucie County Townhouses and Condos

October 2013 Monthly Market Detail St Lucie County Single Family Homes

12.03.13 by

October 2013 Monthly Market Detail St Lucie County Single Family Homes

The October 2013 Monthly Market Detail St Lucie County Single Family Homes as reported by Florida Realtors has moderated in the past couple of months as compared to last years activity.   Closed sales were unchanged from last year  (in September they were up by 4.1%)  and new sales under contract (new pending sales) decreased by 6.9% (they were up by 12% last month).

Both median and average sales prices were up (year to year) by 29% and 24.6% respectively year to year. October 2013 Monthly Market Detail St Lucie County Single Family Homes

The inventory of active listings rose in October (from last month) to 2104 homes, still down by 8.1% from last year.  Current supply of inventory is only 4.9 months (a 18.3% decrease from last year).  For October 2013 this remains a strong sellers market in the St Lucie County area.  However with the significant rise in prices as well as increasing mortgage rates, the current trend appears to be leveling off as inventory also is starting to rebound.  I expect continued good activity for the Saint Lucie County single family market but I wouldn’t be surprised to see a moderation in the rising values.

Please click on the links below to read the full Saint Lucie County single family market detail:

 

Click here to view or download the full report:
October 2013 Monthly Market Detail St Lucie 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.

October 2013 Monthly Market Detail St Lucie County Single Family Homes

October 2013 Monthly Market Detail Martin County Townhouses and Condos

12.02.13 by

October 2013 Monthly Market Detail Martin County Townhouses and Condos

The October 2013 Monthly Market Detail Martin County Townhouses and Condos continues to showed some weakness of the year to year results.  After some surprisingly strong results from last month.  We are now well into our slower season, however we are comparing to last years results for the same period.   Year to year closed sales were up by 1.1% ( up by 36.2% in September) while new sales under contract (new pending sales) decreased by 36.2% (was down 8% in September).October 2013 Monthly Market Detail Martin County Townhouses and Condos

The median sales price increased by 1.3% (was up by 49.5% in September) while the average sales price rose by 10.7% (was up 30.6% in September) as compared to October of 2012.

The inventory of available townhouses and condos has increased slightly to 596 units from last month, while still a decrease of  21.1% from last October.  Current supply of inventory is only 5.9 months (a 33.9% decrease from last year).  For the Martin County townhouse and condo market we have transitioned into numerous months of a seller’s market.  This is exerting significant pressure into rising values for this segment of the real estate market.

 

 Click here to view or download the full report:
October 2013 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.

October 2013 Monthly Market Detail Martin County Townhouses and Condos

October 2013 Monthly Market Detail Martin County Single Family Homes

12.01.13 by

October 2013 Monthly Market Detail Martin County Single Family Homes

The October 2013 Monthly Market Detail Martin County Single Family Homes as reported by Florida Realtors showed slightly slower activity than in most previous months this year, though still much improved from last year.   Closed sales were up by 8.5% (was 58.5% in September) and new sales under contract (new pending sales) increased by 36.2% (24.1% in September).

The median sales price was up by 20.6% from last year while unfortunately the average declined by 30.5%.October 2013 Monthly Market Detail Martin County Single Family Homes

The inventory of available single family homes increased this month to 1242 units but this is still down by 4.2% from last October.  Current supply of inventory is only 6.7 months (a 18.9% decrease from last year).  We are now in a balanced market for residential sales in Martin County.  Considering that this is typically the slower season for Martin County, I’m expecting a return to a sellers market once the holiday season is over.

Please look at the full Martin County single family market detail by clicking on the links below:

 

Click here to view or download the full report:
October 2013 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.

October 2013 Monthly Market Detail Martin County Single Family Homes

October 2013 Monthly Market Detail Florida Townhouses and Condos

11.30.13 by

October 2013 Monthly Market Detail Florida Townhouses and Condos

The October 2013 Monthly Market Detail Florida Townhouses and Condos for the state of Florida continues to show gains though not as robust as they were earlier in the year.  Year to year closed sales were up by 3.1% as compared to last months increase of 11.4% and new sales under contract (new pending sales) decreased by 3.6% (September’s increase was 4.6%).October 2013 Monthly Market Detail Florida Townhouses and Condos

Both median and average sales prices were up (year to year) by 22.1% and 12% respectively.

One item of concern is the active inventory which has decreased again (though slightly), for October by .09%.  The reduced inventory will eventually result in lower sales volume as there just isn’t enough homes available for sale.  This will also result in strong upward pressure on prices and at some point renewed activity in new construction.  If prices rise to a level where currently underwater home owners can see a profit or even a break even price, I will expect a gradual increase in inventory.

Click on the link below or the graphic to see the full market detail report from Florida Realtors:

Click here to view or download the full report:
October 2013 Monthly Market Detail Florida 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.

October 2013 Monthly Market Detail Florida Townhouses and Condos

October 2013 Monthly Market Detail Florida Single Family Homes

11.29.13 by

October 2013 Monthly Market Detail Florida Single Family Homes

The Florida real estate market continues to improve as reported by Florida Realtors for the October 2013 Monthly Market Detail Florida Single Family Homes, though at not quite as great a rate as in past months.  All indices have once again moved in a positive direction.  Year to year closed sales were up by 6.5% (was 18.8% in September) and new sales under contract (new pending sales) increased by 3.4% (was 10.5% in September).October 2013 Monthly Market Detail Florida Single Family Homes

Both median and average sales prices were up (October 2012 to October 2013) by 16.6% and 12.6% respectively.   Very strong numbers that I expect will moderate in the next few months unless the overall state economy shows some improvements as well.

The inventory of available homes for sale increased by 3.3% from last year.  This is the first month in some time that we’ve seen an increase in inventory.  I’ve been expecting this, and as inventory increases the pressure on rising prices will ease as well.  Making the double digit gains of this past year a little more difficult to sustain.

Please look at the full detail report for the rest of the story:

Click here to view or download the full report:
October 2013 Monthly Market Detail Florida 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.

October 2013 Monthly Market Detail Florida Single Family Homes

Martin County Florida Condo Market Report for September 2013

11.07.13 by

Martin County Florida Condo Market Report for September 2013

 

Commentary:

The Martin County Florida Condo Market for September 2013 showed better numbers than in previous years on a year to year comparison.  Still a bit slower than we would like.  Inventory increased this month to 532 units (Inventory has been up and down the past few months with no real trend at this time).  It was back in 2005 when we had steady inventory levels below 600 units.  The median sales price increased in September and continues to be well above last year’s values.  Much of the median price results are driven by the mix of units selling.   Currently, prices on average appear to be holding steady with different communities showing some small gains (as well as some losses) depending on the individual community.

The one month absorption rate increased to 10.04 months from last months 9.46 months, while the three-month average is now at 9.45 months.  We’ve slipped back into a buyers market for martin County condos.  Generally an absorption rate of 6 or 7 months is considered a balanced market.

Higher interest rates remain troubling for the market in general, but is not as strong an issue for our condo market as we have a fairly high percentage of cash buyers.  If the economy continues it’s improvement, I expect another good season for the condo market in Martin County for the upcoming season.

Martin County Florida Condo Market Report for September 2013

Click on the charts for a larger view: 

 The Definition of Absorption Rate:
Number of months it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.

Martin County Florida Condo Market Report for September 2013

Martin County Florida Condo Market Report for September 2013Martin County Florida Condo Market Report for September 2013

Data compiled from the Realtor Association of Martin County

Martin County Florida Condo Market Report for September 2013

the Gabe Sanders real estate team

Condo Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

For more information about Florida’s Treasure Coast Real Estate, visit us at:

Stuart Florida Real Estate


Martin County Florida Residential Market Report for September 2013

11.06.13 by

Martin County Florida Residential Market Report for September 2013

 

Commentary:

The Martin County Florida Residential Market for September 2013 continues to produce better results as compared to recent years.   For September 2013, the inventory rose for the second month in a row signifying that some pent up seller demand is now once again re-entering the market as prices have started to increase.  Though for September both median and average prices slid some, but this was more an indication of lower priced homes dominating sales for the previous month.

The one month absorption rate for September 2013 increased to 5.99 months (from 5.11 months in August), and the three-month average is now 5.4 months.  A 6 month absorption rate is considered to be a balanced market, so we continue to be in a sellers market in Martin County.  Considering the fact that we have entered our slower season, we continue to have better activity as compared to previous years.

Our overall market remains quite healthy as compared to previous years since the ‘bubble’.  The unknowns for the future remain our economy for the nation as a whole.

Please feel free to contact us if you have any difficulty interpreting these charts.Martin County Florida Residential Market Report for September 2013

  Clicking on the chart will produce a larger view.

 The Definition of Absorption Rate:
Number of months it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate, helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.

Martin County Florida Residential Market Report for September 2013

 

Martin County Florida Residential Market Report for September 2013

Martin County Florida Residential Market Report for September 2013

 

Data compiled from the Realtor Association of Martin County

Martin County Florida Residential Market Report for September 2013

the Gabe Sanders real estate team

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

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