Just in! Newly released market reports from Florida Realtors® detailing recent real estate activity in Martin County. The reports compare year end data for 2018. Here are statistics on single family homes.
“We saw a robust number of home sales in 2018 with 2,406 closings, down only slightly from 2017. Active inventory has managed to slowly increase ever so slightly with 944 homes for sale, up 2.1 percent. Our monthly supply ended at 4.7 months, up 4.4 percent,” said Jarrod Lowe, President Elect of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.
There were 2,406 closed sales in 2018 which is a 2 percent decrease year-over-year. The months supply of inventory for 2018 was 4.7, which is 4.4 percent higher than the number we saw in 2017. The 2018 active listings inventory rose 2.1 percent year-over-year to 944.
“The market is still in the seller’s favor, but it is showing signs of moving towards a balanced market in 2019. Sellers, it's a great time to take advantage of the current market and list your property with a local Realtor®,” continues Lowe.
Another sign of the market changing can also be seen in the decline of closed sales paid in cash. There was a decrease to 898 which is a 1.6 percent 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.