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Martin County Townhouses Market Report

September 20016 Townhouse Market Report

The September 2016 Martin County Market Report shows the median sale price increased, there are more active listings, and more buyers that paid cash for townhouses and condos. Closed sales of townhouses and condos in Martin County decreased by 3.2 percent from 93 closed sales in September of 2015 to 90 closed sales in September of 2016. There was a 6 percent increase in the number of people that paid cash from 50 people in 2015 to 53 people in 2016.  Median Sale price increased by 6.5 percent from $135,000 in September of 2015 to $143,750 in September of 2016. Average sales price depreciated from $167,668  in September of  2015 to $160,992 in September of 2016. There was a 7.1 depreciation in the real estate dollar volume from $15.6 million in 2015 to $14.5 million in 2016. The median time to contract decreased from 52 days in September of 2015 to 38 days in September of 2016. The median time to sell decreased from 93 days in September of 2015 to 79 days in September of 2016. New pending sales decreased by 16.8 percent from 95  pending sales in 2015 to 79 pending sales in 2016.There was an 12.1 percent decrease in the percent of new listings on the market from 2015 to 2016 for the month of September. There is a 11.3 percent increase in active listings on the market. Months supply of inventory has increased by 15.6 percent from 3.2 in September of 2015 to 3.7 in September of 2016. In Martin County we have a seller’s market which favors sellers over buyers. A seller’s market can make it challenging for buyers to find the right property that meets their needs. The supply of condos, townhouses, and single family homes is low, demand is high, and sellers are in control.

 

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