September 2016 Monthly Market Detail Martin County Single Family Homes
The September 2016 Monthly Market Detail Martin County Single Family Homes continues to show reduced sales volume when compared to last years figures, yet remains a strong market. Closed sales were down by 9.2% (was down by 9.1% in August). New pending sales decreased by 1.6% as compared to September of 2015 (Decreased by 7.8% in August).
For September there were mixed signals about prices with the median sales price rising by 12.4% from last year (up by 0.5% in August) while the average price decreased by 8.1% (was up by 2.2% last month). Typically this is a result of higher prices in the lower valued range of home sales and fewer sales in the luxury market.
The inventory of available single family homes decreased from last month by 14 homes to 985 units for September, this is 8.7% greater than last September. Current supply of homes is 5.0 months, for September of last year it was a 4.3 months supply. (This is a 16.3% increase from last year). Still a sellers market for Martin County single family home sales. A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory.
Click here to view or download the full report:
September 2016 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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