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Martin County Single Family Homes November 2016 Market Detail
Martin County Single Family Homes November 2016 Market DetailThe Martin County Single Family Homes Market Detail for November 2016 continues to show reduced sales volume when compared to last years figures.  But the market remains quite strong by historical standards.  Closed sales were up by 0.6% (was down by 10.7% in October). New pending sales decreased by 4.1% as compared to November of 2015 (Decreased by 0.6% in October).
For November there were mixed signals about prices with the median sales price decreasing by 0.7% from last year (up by 0.9% in October) while the average price increased by 17.2% (was down by 12.1% last month).
The inventory of available single family homes increased from last month by 33 homes to 1037 units for November,  this is 8.8% greater than last November.  Current supply of homes is 5.3 months, for November of last year it was a 4.5 months supply. (This is a 17.8% increase from last year).  Still a sellers market for Martin County single family home sales but inching closer to a balanced market.  A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory.
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