Martin County Florida Condo Market Report for July 2011

08.19.11 by

Martin County Florida Condo Market Report for July 2011

We’ve changed the scope of our charts for the Martin County Florida Condo 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.

Condo sales were off for July which is to be expected for the summer season for Martin County.  There was a significant drop in the median sales price for July. This reflects that the majority of condo sales were in the lower-priced range and the higher-end condos are seeing a difficult market.

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.

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

Report Affirms How Location Affects Value

08.18.11 by

Report Affirms How Location Affects Value

You often hear real estate agents mention that real estate is local.  What happens in other areas of the country is not necessarily indicative of what happens in Martin County real estate.  This has been true for a long, long time.  Even within small geographical areas, the local nature of real estate may see one community struggling while a nearby neighbor flourishes.  There are lots of reasons for this and with the current real estate market difficulties, it is more true than ever.  Look at this recent article from the Miami Herald:

A ZIP Code-level report on South Florida’s housing market shows values soaring in some neighborhoods, plunging in others.

BY TOLUSE OLORUNNIPA

TOLORUNNIPA@MIAMIHERALD.COM

In South Florida’s location-specific housing market, some neighborhoods are enjoying 20 percent appreciation since last year, while others continue to plunge, down as much as 30 percent, according to a new report from real estate research firm Zillow.
Neighborhoods in negative territory—mostly low-income and inner-city locales—outnumber the region’s affluent ZIP Codes, which are on the upswing, so overall numbers still show a downward trend. The median home in South Florida had a value of $140,900 during the second quarter of this year, down 5.4 percent from last year, the report found. More than 45 percent of homes are underwater on mortgages, and 44 percent of homes sold for a loss in June.

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Read more: http://www.miamiherald.com/2011/08/09/2350657/report-affirms-how-location-affects.html#ixzz1VPWouzoR

Martin County Florida Residential Market Report for July 2011

08.18.11 by

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

Market Report: Jensen Beach, Florida Real Estate Snapshot for Zip Code 34957, Condo Sales for June 2011

07.28.11 by

Market Report: Jensen Beach, Florida Real Estate Snapshot for Zip Code 34957, Condo Sales for June 2011

For June 2011 in the 34957 Zip Code area of Jensen Beach, Florida (Martin County) :

There are currently 61 active listings. (Up 6 from last month)

17 Condo sales are pending and awaiting close or lender approval. (Down 2 from May)

5 Condos Sold (Down 2 from last month)

For the Jensen Beach, Florida condo market, June was a disappointing month with one of the few sectors in the Treasure Coast of Florida real estate market with an increase in inventory.  It is, however, getting into the off-season for condos in our market and this is more true for those condos on Hutchinson Island, where sales and activity are very seasonally dependent.

Search here for Jensen Beach Real Estate for Sale

Market Report: Jensen Beach, Florida Real Estate Snapshot for Zip Code 34997, Condo Sales for June 2011

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Jensen Beach Florida Real Estate presented by:
the Gabe Sanders real estate team

Condominium Market Report for June 2011 in Martin County, Florida

07.18.11 by

Condominium Market Report for June 2011 in Martin County, Florida

We’re beginning to see a fairly typical slowdown of condo sales for the summer months, as generally condo sales in Martin County tend to be seasonal on average.  Prices are still decreasing in most segments, but at a very gradual pace and we expect it to firm up a bit.  The big unknown is the number of distressed condos that may come on the market next season as well as pent-up seller demand that may increase inventory.  If inventory increases, expect prices to continue decline.

To view these graphs in expanded mode just click anywhere in the chart. Click again to close.

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!

Condominium Market Report for June 2011 in Martin County, Florida

Residential Market Report for June 2011 in Martin County, Florida

07.18.11 by

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!

Condominium Market Report for May 2011 in Martin County, Florida

06.18.11 by

Condominium Market Report for May 2011 in Martin County, Florida

The Martin County market activity in the condo real estate segment of the market remains fairly positive as to numbers.  Sales were just about unchanged from last year (up 1 unit), which was artificially inflated by the government’s first-time buyers assistance program.  Inventory levels dropped again and continues a positive trend.  Less inventory means less supply.  If demand picks up at all in the near future, this will signal the start of rising prices.  Unfortunately, at present, prices are still falling, though not nearly as severely as in the past few years.  One month absorption rate is at 12 months, a good improvement from last year’s 15 months.

Condominium Market Report for May 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.
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Residential Market Report for May 2011 in Martin County, Florida

06.17.11 by

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.
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The US Sailing Center of Martin County

06.04.11 by

The US Sailing Center of Martin County

The mission statement of the US Sailing Center of Martin County (USSCMC) is:  The US Sailing Center of Martin County is committed to broadening the base of the sport of sailing through dedicated, affordable, community sailing programs for youth and adults, and providing support for the development of future champions and Olympic racers.

The Sailing Center has been at its present location on the North end of Indian Riverside Park in Jensen beach since 2002.  This is not a yacht club, but instead a community recreational center offering competitive and educational sailing venues for both adults and children of all ages.  Both memberships and lessons are available.  The USSCMC holds numerous world-class regattas throughout the year that bring some of the top-ranked sailors from around the world to Martin County.

One of only three community sailing centers in the United States that is sanctioned by the US Sailing Association (the national governing association of sailing in the US).

Visit the web site at: http://www.usscmc.org/

The US Sailing Center of Martin County

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

Condominium Market Report for April 2011 in Martin County, Florida

05.21.11 by

Condominium Market Report for April 2011 in Martin County, Florida

Corresponding fairly closely to the residential Martin County Market Report, condo sales were off from a year ago as well as from last month.  Possibly due in small measure to the coming end of the season, but not completely as it takes some time for transactions to close, typically from 30 to 60 days.  So, April sales actually represent contracts written in February and March.  Historically, April sales are typically slightly less than March.  Inventory had a small decline and we are back to inventory levels last seen in November of 2005.  Unfortunately, both median and average sales prices are still decreasing.  The one-month absorption rate is back up to 14.8 months for April.

Condominium Market Report for April 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.
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Residential Market Report for April 2011 in Martin County, Florida

05.20.11 by

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.
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Condominium Market Report for March 2011 in Martin County, Florida

04.16.11 by

Condominium Market Report for March 2011 in Martin County, Florida

Condo sales for March were greatly improved from February and even surpassed the stellar numbers we had in December.  Along with excellent sales numbers, inventory was down to levels last seen in 2005 along with a one-month absorption rate below 9 months.  Should this trend continue, then we have definitely turned the corner and the bottom of the market is behind us.  Unfortunately, the vast majority of sales have been on the lower end of the spectrum, driving the median prices even lower.  However, if inventory levels continue to decline, adequate pressure should be developed to stabilize prices.  What remains troubling on the horizon is the threat of additional foreclosure and short-sale properties coming on the market, which will have a negative impact on and rise in prices.

For more information, visit our website or call us at (772) 888-2885.
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Condominium Market Report for March 2011 in Martin County, Florida

the Gabe Sanders real estate team

Residential Market Report for March 2011 in Martin County, Florida

04.15.11 by

Residential Market Report for March 2011 in Martin County, Florida

For March 2011, Martin County residential sales showed some of the best numbers since 2005.  Sales were up significantly over last year and inventory is down to 2005 levels.  The one-month absorption rate is now below 9 months.  Should this trend continue, we should see a much more balanced market in the future.  In fact, prices have now held steady in terms of average numbers for a few months (please keep in mind that this statistic can be misleading as the mix of sales has been leaning to a little higher price bracket that can skew the numbers).  The big unknown is the so-called ‘shadow inventory’ of bank-owned properties as well as short sales that can continue to have negative pricing pressures on areas when there is a significant number of such properties come on the market.  But, all in all, a very strong March for Martin County real estate.  Should this trend continue, those buyers waiting on the sidelines for the bottom of the market may have missed it.

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

Residential Market Report for March 2010 in Martin County, Florida

the Gabe Sanders real estate team

Residential Market Report for February 2011 in Martin County, Florida

03.21.11 by

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.
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Condominium Market Report for February 2011 in Martin County, Florida

03.20.11 by

Condominium Market Report for February 2011 in Martin County, Florida

Condo sales for February improved from January and matched the good numbers we had in December.  Median prices declined a bit but show some signs that price declines have moderated considerably.  Inventory is basically unchanged from last month, which remains at a low point for the past few years.  The 3 month absorption rate remains high at 15.5 months.  Most experts feel a balanced market is reflected by a 6 month absorption rate, so we still have a long way to go.

Condominium Market Report for February 2011 in Martin County, Florida

For more information, visit our website or call us at (772) 888-2885.
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Residential Homes, Condos and Land

Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

Residential Market Report for January 2011 in Martin County, Florida

02.25.11 by

Residential Market Report for January 2011 in Martin County, Florida

Unlike the very strong December sales of single-family homes and townhomes in December 2010, January 2011 came in with a whimper.  Sales were down to 85 units as opposed to 148 in December.  Even prices sent mixed signals as the median price was down and the average price was up.  About the only good news was a continued small decrease in inventory.  Now down to 1787 units. Just above the low point in May of 2010 and Matching the Dec 2005 level.  The brutal winter up north might just bring more buyers for the remainder of this season.  Come back in the next few months to see the results.

Residential Market Report for December 2010 in Martin County, Florida

For more information, visit our website or call us at (772) 888-2885.
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Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

Condominium Market Report for January 2011 in Martin County, Florida

02.25.11 by

Condominium Market Report for January 2011 in Martin County, Florida

Condo sales for January were off slightly from December but remained fairly strong by seasonal measurements.  All indications are for a fairly active spring as prices remain low, interest rates are still very attractive and sure seem to be heading higher fairly soon.  Additionally, a very miserable winter up north has renewed interest in the Sunshine State.  A higher price point of condo sales in January saw a marked jump in median prices.  It would be nice to see if this trend were to continue, but we remain a bit dubious about this.  Inventory levels are down to 774 units.  This is the lowest since December of 2005.  As the supply shrinks, demand should increase.

Condominium Market Report for January 2011 in Martin County, Florida

For more information, visit our website or call us at (772) 888-2885.
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Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

Residential Market Report for December 2010 in Martin County, Florida

01.21.11 by

Residential Market Report for December 2010 in Martin County, Florida

Much like the condominium market, the residential sales in December for Martin County were above expectations for the holiday season.  Unlike the condominium market, sales of existing homes were also in the higher price ranges showing an improving market trend which is unusual for the holiday season.  With historically low-interest rates (which is not supposed to last) and some excellent prices, it appears that buyers are once again starting to become a bit more active on the Treasure Coast of Florida in Martin County.

Data compiled from the Realtor Association of Martin County

Residential Market Report for December 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!

Condominium Market Report for December 2010 in Martin County, Florida

01.20.11 by

Condominium Market Report for December 2010 in Martin County, Florida

For the first time in many years, condo sales have remained quite strong through the holiday season. All very positive news as for sales volume.  Unfortunately, median prices took a large hit this past month.  This is due mostly because the condos that sold are the more modestly priced ones available on the market as seasonal visitors appear to be interested in finding the excellent bargains available in this market.

Condominium Market Report for December 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!

Condominium Market Report for November 2010 in Martin County, Florida

12.23.10 by

Condominium Market Report for November 2010 in Martin County, Florida

There was quite an unexpected increase in sales volume for November in the Martin County condo market.  Sales, as well as median and average prices, were up. This is a definite positive trend.  Hopefully, this trend will continue into 2011.  Inventory was up slightly, there is quite a bit of inventory that might become available if the positive results continue.

Condominium Market Report for November 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!