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 December. Here are statistics on single family homes.
“Martin County continues to transition from a sellers’ market to a balanced market between buyer and seller. Inventory saw a 4.4 percent increase year-over-year to 4.7 months,” said Jarrod Lowe, President Elect of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.
The months’ supply of inventory for December 2018 was 4.7, which is 0.2 months higher than the number we saw in December 2017. Months’ supply of inventory is a useful indicator of market conditions. The benchmark for a balanced market (favoring neither buyers nor sellers) is 5.5 months’ of inventory.
“The market reports for December 2018 also showed a significant increase in median sale price and another large decrease in closed sales year-over-year,” continues Lowe.
We see a significant decline in closed sales for single family homes. There were 164 closed sales in December which is a 9.4 percent decrease year-over-year. There was also a decrease in closed sales paid in cash to 58, which is a 4.9 percent drop year-over-year decrease.
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 & the Treasure Coast. For more info, contact firstname.lastname@example.org.