Residential Market Report for May 2011 in Martin County, Florida

Residential Market Report for May 2011 in Martin County, Florida

 

The May results for the Martin County residential real estate market show fairly strong results with a continuing decrease in inventory and sales that almost match last years results without the benefit of the government first time buyers assistance program.  The one month (non averaged) absorption rate is below 10 months which is better than in the past 4 years.  We would like to see an absorption rate in the 5 to 7 month range which is an indicator of a balanced market. Median prices are significantly lower than last year.  Average sales price a little less off.  The average price trend line showed a drop in May after a few months of increases.  Summer is now here, ant typically market activity slows a bit as the seasonal buyers have gone north for the summer.

Click on the individual charts to see charts in expanded mode.

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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.

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Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

 

Residential Market Report for May 2010 in Martin County, Florida

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 or Treasure Coast FL Homes

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