Martin County, FL Real Estate Trend Update – August 2015 Data

September 24, 2015 (Stuart, Florida) – The seller’s market continues! For the fourth straight month in a row, the single family home inventory in Martin County has held below 1,200 active listings. For the month of August we had an average of only 1,003 single family homes for sale, which represents a 22.1% drop from last year. Sellers are receiving an average of 94.2% of their asking prices and getting their homes under contract within 1 month of listing it for sale.

August 2015 August 2014 % Change YOY
Closed Sales 229 249 -8.0%
Cash Sales 63 99 -36.4%
New Pending Sales 248 254 -2.4%
New Listings 292 293 -0.3%
Median Sale Price $316,750 $289,000 9.6%
Average Sale Price $389,175 $353,938 10.0%
Median Days on Market 31 55 -43.6%
Avg. Percent of Original List Price 94.2% 92.9% 1.4%
Pending Inventory 416 375 10.9%
Inventory (Active Listings) 1,003 1,288 -22.1%
Months Supply of Inventory 4.3 6.4 -33.0%

As you can see in the chart above and graphs below, real estate prices are remaining relatively high. The median sale price for single family homes in Martin County for the month of August, 2015 was $316,750. That figure is the highest recorded median sale price since the market crash of 2007.

martin-county-florida-single-family-home-market-data

If you have a home to sell in Stuart, Jensen Beach, Palm City, Jupiter, or Hutchinson Island, now is the time! Call me anytime to discuss your options.

-Rusty Abbott

 

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