NOVEMBER 23, 2015 – Real estate data for single family homes in Martin County, Florida has just been released for the month of OCTOBER, 2015. Click here to download the full report. Below is a chart of key figures and Year-Over-Year comparisons. All data is provided by Florida Realtors®.
|Summary Statistics||October 2015||October 2014||% Change YOY|
|New Pending Sales||201||248||-19.0%|
|Median Sale Price||$314,500||$272,000||15.6%|
|Average Sale Price||$434,249||$386,611||12.3%|
|Median Days on Market||33||71||-53.5|
|Avg. Percent of Original List Price||93.9%||92.2%||1.8%|
|Inventory (Active Listings)||1,162||1,253||-7.3%|
|Months Supply of Inventory||4.9||6.1||-18.4%|
Median Sale Price:
One of my favorite metrics for analyzing real estate markets is Median Sale Price. In the graph below, I’ve drawn a black line representing the median sale price trend since 2011. From January 2011 to November 2015, we’ve seen a 58% increase in single family home sale prices! That’s an impressive figure, but it doesn’t quite tell us what the trend is today.
If you’re considering buying or selling a home soon, you probably want to know how quickly prices are changing right now. To answer this question, I like to look at the median sale price for each month over the past year, and average the percentage change between each month. The figures circled in green below show an average increase of 1.4% each month.
For an in-depth look at your neighborhood and a customized market analysis for your home, call me anytime.
– Rusty Abbott