Martin County Florida Condo Market Report for January 2013

Commentary:

The Martin County Florida Condo Market for January 2013 continues to have its difficulties while the residential segment of the Treasure Coast real estate market is showing positive signs.  Sales for January were only 39 condos, down from 54 in December.  Similar to last year’s 37 condo sales in January.  The inventory declined to 610 condos (Down 20 from December) which is 54 condos less than were available last year.  This is the first month of decreasing inventory after 3 months of increases.  The median sales price dropped to $95,000 for January of 2013 (Was 133,000 in Jan 2012).   While the median list price rose to $179,000.  Whether this is just seasonal drop during the holiday season remains to be seen.  Typically we get more higher end condo sales in the spring season.

The one month absorption rate jumped to 15.6 months, while the three-month average rose to 13.3 months.  Still a very challenging market for condo sellers.  But quite attractive opportunities for buyers.  We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

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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

Martin County Florida Condo Market Report for January 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 Condo Market Report for December 2012

Commentary:

The Martin County Florida Condo Market for December 2012 continues to have its difficulties while the residential segment of the Treasure Coast real estate market is showing positive signs.  Sales for December were 54 units down up from 47 in November.  Pretty similar to last year’s 52 condos and equal to the 54 sold condos in December of 2010.  The inventory rose to 630 condos (up 13 from November) which is 43 condos less than were available last year.  This is the third month of increasing inventory.  If sales do not pick up by an appreciable amount, the increase in inventory will continue to drive prices down.  As evidenced by the median sales price dropping to $100,950 for December of 2012 (Was 110,000 in Dec 2011)   The median listing price was also off to $175,000.  Whether this is just seasonal drop during the holiday season remains to be seen.  Typically we get more higher end condo sales in the spring season.

The one month absorption rate decreased to 11.7 months, while the three-month average is at 12.1 months.  Still a very challenging market for condo sellers.  But quite attractive opportunities for buyers.  We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

[singlepic id=3239 w=800 h=600 float=center]
  

 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.

[singlepic id=3240 w=800 h=600 float=center]

[singlepic id=3241 w=800 h=600 float=center]

[singlepic id=3242 w=800 h=600 float=center]

Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Martin County Florida Condo Market Report for December 2012

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 Condo Market Report for November 2012

Commentary:

The Martin County Florida Condo Market for November 2012 showed some improvement from last year, but continues to struggle in a difficult market.  Sales for November were 47 units down slightly from the 50 in October.  Though, considerably better than November of 2011 during which we saw only 35 sales.  The inventory rose to 617 condos (up 43 from October) which is about 60 condos less than were available last year.  I am anticipating a greater increase in inventory as many condo owners try to maximize the seasonal impact of this market.  The median sales price was up in November to $125,000 after taking a sizable drop in October which had dipped to $114,750.  Last year in November the median sales price was $112,500.

The one month absorption rate is up to 13.3 months, while the three-month average is at 12.9 months.  Still a very challenging market for condo sellers.  But quite attractive opportunities for buyers.  We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

Currently, the condo market is under-performing as compared to our residential market and the condo markets of our southern neighbors.  I do expect this trend to stop as buyers realize the bargains currently available in the Martin County condo market.

 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.

Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Martin County Florida Condo Market Report for November 2012

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 Condo Market Report for October 2012

Commentary:

The Martin County Florida Condo Market for October 2012 continues to tread water neither getting worse or better.  Sales for October were up to 50 units from a very weak 39 in September.  Just about identical to October 2011 which had 53 sales.  The inventory rose to 574 condos (up 6 from September) which is about 100 condos less than were available last year.  I would not be surprised to see more inventory growth as we get into the upcoming  fall and winter condo season.  The median sales price did take a hit in October , down to $114,750 down from $159,000 for September, but still above last year’s $92,500.

The one month absorption rate is up to 11.5 months, while the three-month average is at 12.7 months.  Still a very challenging market for condo sellers.  But quite attractive opportunities for buyers.  We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

Currently, the condo market is under-performing as compared to our residential market and the condo markets of our southern neighbors.  I do expect this trend to stop as buyers realize the bargains currently available in the Martin County condo market.

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.

[singlepic id=3041 w=800 h=800 float=center]

[singlepic id=3042 w=600 h=600 float=center]

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Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Martin County Florida Condo Market Report for October 2012

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 Condo Market Report for September 2012

Commentary:

The Martin County Florida Condo Market for September 2012 was fairly slow.  Though this is typical for our seasonal condo market, we were hoping for a little better activity.  Sales for September were down to 39 units from 46 in August.  Just about identical to September 2011 which had 40 sales.  The inventory was down by 10 units and is basically holding steady as last year at this time it was 623 condos available for sale.  I would not be surprised to see more inventory growth as we get into the upcoming  fall and winter condo season.  The median sales price took a big jump in September as some fairly high priced condos were sold last month. (Up to $159,000 from just $97,000 for August)

The one month absorption rate is up to 14.6 months, while the three-month average is at 12.1 months.  Still a very challenging market for sellers with the accompanying quite attractive opportunities for buyers.  We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

Currently, the condo market is under-performing as compared to our residential market and the condo markets of our southern neighbors.  I do expect this trend to stop as buyers realize the bargains currently available in the Martin County condo market.

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.

[singlepic id=2942 w=600 h=600 float=center]

[singlepic id=2943 w=600 h=600 float=center]

[singlepic id=2944 w=600 h=600 float=center]

Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Martin County Florida Condo Market Report for September 2012

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 Condo Market Report for August 2012

Commentary:

The Martin County Florida Condo Market for August 2012 is showing signs of our typical summer slowdown.  Sales for August were down to 46 units from 57 in July.  Though this is still slightly better than August of 2011 which had 43 sales.  The inventory was up by 7 units and is basically holding steady as last year at this time it was 618 condos available for sale.  I would not be surprised to see more inventory growth as we get into the upcoming  fall and winter condo season.  Both average and median sales prices were off again for August reflecting a continued pressure on pricing in the local condo market.  Also, the mix of sales has been in the lower price ranges, as the more expensive, typically ocean front condos tend to have better sales in the winter and spring season..

The one month absorption rate is up to 12.6 months, while the three-month average is at 10.4 months.  Still a very challenging market for sellers with the accompanying quite attractive opportunities for buyers.  We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

Currently, the condo market is under-performing as compared to our residential market and the condo markets of our southern neighbors.  I do expect this trend to stop as buyers realize the bargains currently available in the Martin County condo market.

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.

[singlepic id=2843 w=600 h=600 float=center]

[singlepic id=2844 w=600 h=600 float=center]

[singlepic id=2845 w=600 h=600 float=center]

Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Martin County Florida Condo Market Report for August 2012

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 Condo Market Report for July 2012

Commentary:

The Martin County Florida Condo Market for July 2012 is showing signs of improvement even though we are now in the typically slower summer season for condo sales.  Sales for July were a strong 57 units, which is the highest number of condo sales for a July since 2005.  The inventory continues to shrink, although at a slower rate.  I would not be surprised to see some inventory growth as we get into the upcoming  fall and winter condo season.   For the first time in five months, we’ve seen a drop in median sales prices.  Rather than a decrease in values, this is indicative of a greater number of lower priced condos in the mix of the completed sales.

The inventory is now down to 571 condos, down from the 652 condos that were on the market in July of 2011. The one month absorption rate is now at 10.02 months, while the three-month average is at 8.99 months.  While it remains a somewhat challenging market for condos in Martin County, there are some signs of life as prices across the board have declined significantly. We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.

With any change to a favorable consumer sentiment, I expect condo sales to pick up dramatically this coming season as nervous potential vacation home buyers will have the courage to step off the sidelines.

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.

[singlepic id=2634 w=600 h=600 float=center]

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[singlepic id=2636 w=600 h=600 float=center]

Data compiled from the Realtor Association of Martin County

See the full set of charts at Treasure Coast FL Homes

Martin County Florida Condo Market Report for July 2012

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 Condo Market Report for June 2012

Commentary:

The Martin County Florida Condo Market for June 2012 continues on a positive trend. Sales for June were a strong 62 units, which is the highest number of condo sales for a June in the past few years. Ant this with an inventory of available condos now the lowest since October of 205.  On another positive note, the median sales price rose to $141,250 reflecting some higher to moderate priced condos having sold.  This is the fourth month in a row we’ve had an increase in median prices.

The inventory is now down to 572 condos, down from the 668 condos that were on the market in June of 2011. The one month absorption rate is now at 9.23 months, while the three-month average is down to 8.40 months.  While it remains a somewhat challenging market for condos in Martin County, there are some signs of life as prices across the board have declined significantly. We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.  The June numbers are showing that the condo market is coming back to life and desirable units are in fact selling.

Our outlook for the Martin County condo market is fairly positive.  Buyers can get units at attractive prices and sellers have the ability to sell their units for today’s market value.

Martin County Florida Condo Market Report for June 2012

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, visit our website or call us at (772) 888-2885.
Our market reports are here!

Martin County Florida Condo Market Report for May 2012

Commentary:

The Martin County Florida Condo Market for may 2012 continues on a positive trend. Sales for May were a strong 75 units, which equaled the April sales and higher than the past few years. On another positive note, the median sales price rose to $135,000 reflecting some higher to moderate priced condos having sold.  This is the third month we’ve had an increase in median prices.

The inventory declined to 602 condos, down from the 714 condos that were on the market in May of 2011. The one month absorption rate is now at 8.03 months, while the three-month average is down to 8.69 months.  While it remains a somewhat challenging market for condos in Martin County, there are some signs of life as prices across the board have declined significantly. We need to see a sustained absorption rate below 9 months for a healthy market and down to 6 or 7 months to be considered a balanced one.  The May numbers are showing that the condo market is slowly crawling back to life and those units that show ell are in fact selling.  At times for even premium prices by today’s standards.

Our outlook for Martin County is fairly positive as for buyers, prices and rates remain very attractive. For sellers, it looks like this may be an excellent season coming if there’s no big disruption in the economy.  If you need to sell, you may be better off doing so now than facing the uncertainty of what the future may bring.  Especially if you are paying those condo fees.

Martin County Florida Condo Market Report for May 2012

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, visit our website or call us at (772) 888-2885.
Our market reports are here!