September 2015 Monthly Market Detail Martin County Single Family Homes
The September 2015 Monthly Market Detail Martin County Single Family Homes showed a second month of continued weakness when compared to last year for volume of sales. Year to year closed sales were down by .5% (was down 8% in August). New pending sales decreased by 6.6% as compared to September of 2014 (decreased by 2.4% in August).
The median sales price was up by 7.1% from last year (up by 9.6% in August) while the average price increased by 40.5% (was up by 10% last month). The lack of inventory is driving down the volume of sales while at the same time exerting tremendous upwards pressure on prices..
The inventory of available single family homes increased from last month by 54 homes to 1057 units this month, and this is still a 14% decrease from last September. Current supply of homes is 4.5 months, for August of this year it was a 4.3 months supply. (This is a 24.7% decrease from last year). The Martin County single family real estate market remains a strong sellers market. We are approaching our slower selling season for the upcoming holidays. I am hoping to see the sales volume start increasing again as we seem to be slowly having some additional inventory additions.
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September 2015 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.
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