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Martin County Florida Condo Market Report for August 2011

By Gabe Sanders

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

September 20, 2011 06:46 AM

Martin County Florida Condo Market Report for August 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.

While slightly better sales numbers from last August, Condo sales were a little lower for August, which is to be expected for the summer season for Martin County. After a large drop of median prices in July, the August median and average recovered a little, but still significantly off from last years averages. The vast majority of sales for August were lower priced non-water view condos on the mainland.

The current uncertain economic climate is a very significant factor in keeping the market from making any significant improvement.

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

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.