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Martin County Florida Residential Market Report for January 2012

By Gabe Sanders

Real Estate Agent with Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales 3090099

February 28, 2012 03:18 AM

Martin County Florida Residential Market Report for January 2012

Commentary:

The Martin County Florida residential market report for January 2012 starts the year on a slow note. Sales volume (98 units) was up as compared last year (85) but considerably down from December (160). The one month absorption rate shot up to14.5 months while the three month moving average is at a more respectable 10.7 months. Activity does appear to be high though and I expect that the January numbers reflect slow closings from the slow holiday season (as closings tend to lag from one to three months after the contracts are agreed upon.

Average sales price was up slightly from last year, while the median price was down. Prices seem to be holding pretty steady at this time in most segments of the market and quality homes that are priced well are selling quickly. The inventory remained stable (up only by two homes).

Our outlook for Martin County remains optimistic as prices and rates remain at historic low levels. For sellers, homes are selling, and if priced and presented optimally, they are going quickly. Buyers are seeing historically low interest rates and very affordable quality homes in almost all price ranges.

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

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

Martin County Residential Market Report January 2012

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.