Home Prices are Down in Martin County

Market Report for Martin County
September 2018

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 September. Here are statistics on single family homes.

“Florida Realtors®’ September housing report shows that Mother Nature significantly impacted September’s real estate activity in 2017. The year-over-year comparison is skewed due to last year’s hurricane. Fortunately without any significant weather events this year, our sales activity in Martin County has returned to seasonal norms,” said John Slivon, Immediate Past President of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.

Reflecting seasonal norms, there were 197 closed sales and 179 new pending sales in September.

“With regard to prices, we may be starting to notice a trend of declining pricing. Our median sale price for September has dropped to $325,000. Inventory shrank as well, down to 4.3 months’ supply. Since August 2018, we seem to be seeing potential sellers electing not to market their homes, while buyers seek to purchase lower priced homes.”

The median sale price of $325,000 is the lowest number reported since January 2018. Also, only 203 homes were added to the market in September, the lowest number of new listings reported year to date.

Market Reports: Martin Single Family Homes | Martin Townhouses/Condos

Broward, Palm Beaches & St. Lucie Realtors® is the 3rd largest local Realtor® association in the country, representing 33,000 Realtors®, 35,000 MLS subscribers, and 5 regional boards across South Florida & the Treasure Coast. For more info, visit Rworld.com or contact Communications@rworld.com.