Martin County Florida Residential Market Report for October 2011

Commentary:

The Martin County Florida residential market report for October 2011 shows some good strength when considering the season.  Sales were off only by 3 homes for a total of 113, almost identical to last year’s 114 single-family sales.  Surprisingly inventory was down by 6 homes from last month (which had a slight rise from August), and off by more than 450 homes since October of 2010 ( or by close to 30%)

The average sales price was up from last year, but down significantly from September.  This doesn’t necessarily reflect a decrease or increase in existing home prices, but more the mix of homes that sold in October.  As in previous tears, late fall sales tend to be of lower-priced homes.   This difference is much more tempered when looking at median prices as opposed to averages.  We will not be surprised to see inventory rising some in the next couple of months as well as having some soft sales volume as we enter the holiday season.  But, with inventory down, for now, rates very low, we may find the market outperforming expectations.

Our outlook for Martin County remains cautiously optimistic as prices and rates remain at historic low levels.  For sellers, homes are selling, and if priced and presented optimally, homes are selling fast and at or close to market value.

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

Residential Market Report for October 2011 in Martin County, Florida

Gabe Sanders

Residential 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 Residential Market Report for September 2011

Commentary:

The Martin County Florida residential market report for September 2011 shows some negative results from last month.  Still slightly higher sales rate from September 2010, and also a bit higher average sales price (though the median sales price was down for September).  Unfortunately for the second month in a row, we’ve seen the inventory climb (although by relatively modest numbers).  It’s too early to tell if this is a new trend or just a seasonal fluctuation which often happens as sellers try to take advantage of a more active winter season in Martin County.

With the increased inventory and the reduced sales, our current one-month absorption rate is just under 12 months, swinging back into a pretty strong buyers market.  This will result in more downward pressure on sales prices and I don’t expect any improvement any time in the near future for those wishing to sell their home.

The big uncertainty remains, which is the economy.  We believe that if we have any sustained good news, we will see a pretty good rush on the market which will be a nice change from the present.  For the longer term, even though we have the best mortgage rates in history at the moment, inflation is making news and this is not good for rates down the line.  The Fed. is working hard to keep rates down, but for how long, we’re just not too sure.

Our outlook for Martin County is fairly positive as for buyers, prices and rates remain very attractive.  For sellers, it doesn’t look like we’re going to see any significant improvements soon, so if you need to sell, you may be better off now than possibly in the near future.

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

Residential Market Report for September 2011 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, visit our website or call us at (772) 888-2885.
Our market reports are here!

Martin County Florida Residential Market Report for August 2011

We’ve changed the scope of our charts for the Martin County Florida Residential market report from previous months. We are now going back to when we first started to record the data in 2004. This should give a much clearer picture of the trend and state of the market as a whole. You will need to click on each individual chart for an expanded view.

Residential sales were fairly steady for August, somewhat of a surprise as we typically see a decrease for the summer season for Martin County.  Sales were up from last year and both median and average sales prices were higher.  This is not yet an indication of rising values, but rather sales of higher values homes were reflected in the averages.  Inventory made its first increase in a number of years which is not a good sign should this trend continue.  An increase in supply (without a corresponding increase in demand) tends to drive values lower as basic supply and demand laws come into play.

The current uncertain economic climate is a very significant factor in keeping the market from making any significant improvement.

Residential Market Report for August 2011 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, visit our website or call us at (772) 888-2885.
Our market reports are here!

Martin County Florida Residential Market Report for July 2011

We’ve changed the scope of our charts for the Martin County Florida Residential market report from previous months.  We are now going back to when we first started to record the data in 2004.  This should give a much clearer picture of the trend and state of the market as a whole.  You will need to click on each individual chart for an expanded view.

Sales were off for July which is to be expected for the summer season for Martin County.  Interestingly enough not as much as in many of the previous years.  Average sales prices took another dive but the average list prices did go up.  Possibly an indication of mainly lower-priced homes selling for the month of July.

The current uncertain economic climate is a very significant factor in keeping the market from rising at present.

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

Residential Market Report for July 2011 in Martin County, Florida

the Gabe Sanders real estate team

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

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

Residential Market Report for June 2011 in Martin County, Florida

Fairly strong market activity report for June 2011 in Martin County, Florida.  Only a small decrease in volume from last year when there was a skewed increase in activity from the first-time home buyers tax credit.  Interesting to note, average sale prices have increased for the county.  Some of this result is from some higher-priced homes beginning to sell and not necessarily an increase in value for existing resales.  However, prices seem to have leveled off in certain market segments.

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

Residential Market Report for June 2011 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, visit our website or call us at (772) 888-2885.
Our market reports are here!

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 year’s results without the benefit of the government’s 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.  The average sales price is a little less off.  The average price trend line showed a drop in May after a few months of increases.  Summer is now here, and typically market activity slows a bit as the seasonal buyers have gone north for the summer.

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

Residential Market Report for April 2011 in Martin County, Florida

Mixed results for April in the Martin County Residential Market Report.  Sales were off considerably from last year (which it’s important to keep in mind were greatly inflated by the government’s first-time home buyer’s tax credit).   Unfortunately, sales were also off a bit from a very strong March of this year (down to 161 homes from a March total of 187).  On the positive side, the inventory is continuing to shrink, now down to 1531 units.  The last time it was at this level was back in November of 2005.  Both median and average sales prices were up for April, reflecting the fact that some higher-end homes are now selling.  The single-month absorption rate increased to 9.51 months (not reflected in my 3-month moving average chart).   It’s still too early to tell if we have actually bottomed out in this market and are holding steady or even seeing some price increases.  I expect June numbers to be off a little as we go into our seasonal cycle.

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

Residential Market Report for February 2011 in Martin County, Florida

For February 2011, Martin County residential sales rebounded from the poor January results and have come in at fairly good numbers compared to the past few years.  Inventory remains high but also continues to decrease.  We are seeing a significant number of homes on the market that are basically not a viable sale at their current price and condition, so the real inventory is probably a bit less than the total number on the chart.  Average sales prices decreased for February, however, the median price was up, so in effect, we feel prices by and large have either stabilized or are decreasing at very low rates in most segments of the market, with some notable exceptions.  These exceptions are the very upper end of the price range as well as continued pressure on newer communities built during the boom times.  The absorption rate remains troublesomely high at over 15 months.

Residential Market Report for February 2010 in Martin County, Florida

Residential 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!