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Martin County Single Family Homes Market Report

Closed sales decreased by 20.3 percent compared to last year in the month of September. There was a 20.3 percent decrease in the number of cash sales in which buyers exclusively paid in cash. Cash sales statistics can be a great indicator at how many investors are in the market. Median Sales price continues to appreciate at 12.1 percent with a median sales price of $347,600. Median sales price reflects the value of homes that were sold this month. The Average sales price increased by 3.6% to $399,769 for the month of September. There was a 17.4 percent decrease in dollar volume of sales which closed during the month of September. The median percent of original list price has increased by .8 % to  96%. The median time to contract is 44 days which has decreased by 8.3 % from the previous year. Homes on the market during the month of September going under contract quicker than the previous year. There was a 40.5 percent decrease in the number of new pending sales from 195 to 116. There was a 3 % decrease in inventory for the month of September. The active listings number typically decreases when new listings are not keeping up with homes are going off the market. There is a 4.7 month supply of inventory which means that it would take 4.7 months for all the active listings to sell on the market given the recent sales rates. Based on the 4.7 months inventory the market is still a sellers’ market.

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