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 July. Here are statistics on single family homes.
“Great news for buyers – Months’ supply of inventory is up for the eighth consecutive month. The supply in Martin County is now 4.9 months, and buyers have 962 active listings to choose from,” said Jarrod Lowe, President Elect of the Realtors® of the Palm Beaches and Greater Fort Lauderdale.
Active listings are the number of property listings active at the end of the month. Inventory rises when new listings are outpacing the number of listings that go off the market. In July, active listings increased 4.9 percent to 962, while supply of inventory increased 6.5 percent to 4.9 months.
“Months’ Supply of Inventory is a useful indicator of market conditions. The benchmark for a balanced market (favoring neither buyer nor seller) is 5.5 months of inventory. Anything higher is traditionally a buyers' market, and anything lower is a sellers' market,” continues Lowe.
Additionally, the median sale price in Martin County increased 3.2 percent to $382,000. This is $12,000 more than the $370,000 in July of 2018.
Realtors® of the Palm Beaches and Greater Fort Lauderdale has merged with the South Broward Board of Realtors® to form the 3rd largest local Realtor® association in the country. The newly combined association represents 33,000 Realtors®, 35,000 MLS subscribers, and 5 regional boards across South Florida & the Treasure Coast. For more info, visit RapbGflrMerge.com or contact Communications@rapb.com.
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