Martin County Townhouses and Condos November 2016 Market Detail
Martin County Townhouses and Condos Market Detail for November 2016 had an increase of sales while future (pending sales0 are showing some weakness. Closed sales were up for the month by 8.5% (was down by 46.9% in October) while new sales under contract (new pending sales) were down by 15.8% from November 2015 (decreased by 23.7% in October).
Prices were mostly flat or down for November as the median sales price increased by 1.8% (was down by 1.7% in October) while the average sales price decreased by 18.1% (was down by 14.7% in October) as compared to November of 2015. Not totally unexpected with the rapid rise of prices for the past three years as there may be a small correction taking place. Though this market is till active.
The inventory of available townhouses and condos increased by 21 units to 426 properties as compared to last month. This is 14.5% greater than the November 2015 inventory. Currently, there’s a 4.5 month supply of inventory (a 21.6% increase from last year which was 3.7 months). Still a sellers market for townhouses and condos in Martin County. 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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Martin County Townhouses and Condos November 2016 Market Detail
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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