Residential Market Report for March 2011 in Martin County, Florida

For March 2011, Martin County residential sales showed some of the best numbers since 2005.  Sales were up significantly over last year and inventory is down to 2005 levels.  The one-month absorption rate is now below 9 months.  Should this trend continue, we should see a much more balanced market in the future.  In fact, prices have now held steady in terms of average numbers for a few months (please keep in mind that this statistic can be misleading as the mix of sales has been leaning to a little higher price bracket that can skew the numbers).  The big unknown is the so-called ‘shadow inventory’ of bank-owned properties as well as short sales that can continue to have negative pricing pressures on areas when there is a significant number of such properties come on the market.  But, all in all, a very strong March for Martin County real estate.  Should this trend continue, those buyers waiting on the sidelines for the bottom of the market may have missed it.

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Residential Market Report for March 2010 in Martin County, Florida

the Gabe Sanders real estate team