Single Family Market Report- Martin County June 2019

Based on the most recent Florida Realtors Market Report there was a decrease in closed sales, cash buyers, dollar volume of sales, average sales price, pending inventory, and new homes that hit the market. The market is currently a balanced market favoring neither party.

Based on the chart for closed sales at the bottom of the image May and July tend to be the busiest months where there are more real estate closing. Closed sales has decreased by 7.1 percent from past June 2018. There was a 11.1 percent decrease in the amount of cash buyers. Median sale price increased by 4.9 percent while average sales price decreased by 3.9 percent. Dollar volume has also decreased by 10.7 percent compared to last year. Sellers are receiving 95 percent of the list price when they sell their home. It is taking sellers an average of 52 days for their home to go under-contract and an average of 96 days from listing home to closing day. There was 6 percent decrease in pending inventory on the market. There are 11.6 percent increase in amount of homes that were put on the market. Monthly supply of inventory has increased to 5.1 months from 4.5 month inventory. That means if no new homes are listed it would take 5.1 months for all the properties on the market to go under-contract. The market would be considered balanced since inventory is between 5-7 months. Under 5 months is a sellers market which means that the seller would have more control over setting prices and terms. If the month supply is over 7 months it would be considered a buyers market which means that the buyers would have more negotiating power. The market is healthy and is balanced which means that there is a good amount of buyers and sellers.

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