Just in! Newly released market reports from Florida Realtors® detailing recent real estate activity in Martin County. The reports compare year-over-year data for October. Here are statistics on single family homes.
“Inventory of single family homes in Martin County remained unchanged compared to last year at 4.8 months. While in 2017 we were still recovering from the impacts of Hurricane season, this past October, we returned to normal sales activity with over two hundred closings,” said John Slivon, Immediate Past President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.
Months’ supply of inventory is an estimate of the number of months it will take to deplete the current inventory given recent sales rates. At the end of October, we had 4.8 months’ supply of inventory, and the benchmark for a balanced market is 5.5 months.
“Our median sales price continues to push the upper limits rising 15.9% to $376,750. There were a good number of million dollars sales this past month which helped contribute to this significant increase. With holiday season approaching, we will see a lower number of sales reflected in our stats for the 1st quarter of the New Year,” continues Slivon.
The Realtors® of the Palm Beaches and Greater Fort Lauderdale is the 3rd largest local real estate association in the country. As one unified voice, RAPB + GFLR represents 30,000 Realtors®, 33,000 MLS subscribers, and 5 regional boards across South Florida and the Treasure Coast. For more information, contact firstname.lastname@example.org.