Months’ Supply of Inventory Increases in Martin County

Just in! Newly released market reports from Florida Realtors® detailing recent real estate activity in Martin County. The reports compare year-over-year data for May. Here are statistics on single family homes.

 “May brought small increases of 1.1 percent in closed sales and 3.8 percent in median sale price in Martin County. Median Sale Price is our preferred summary statistic for price activity because, unlike average sale price, median sale price is not sensitive to high sale prices for small numbers of homes that may not be characteristic of the market area,” said Jarrod Lowe, President Elect of the Realtors® of the Palm Beaches and Greater Fort Lauderdale and the South Broward Board of Realtors®.

There were 266 closed sales in Martin County in May of 2019. The median sale price increased 3.8% to $380,000 in single family homes, which is $14,000 higher year-over-year.

“The highest year-over-year increases in May were 12.3 percent in active listings and 14.9 percent in months’ supply of inventory. The months’ supply of inventory was 5.4 which is just below the benchmark for a balanced market. If you are thinking of selling your home, contact a local Realtor® for advice on how to list appropriately in the current market conditions,” continues Lowe.

The number of active listings in Martin County was 1,071. Active inventory rises when new listings are outpacing the number of listings that go off-market (regardless of whether they actually sell). Likewise, it falls when new listings aren’t keeping up with the rate at which homes are going off-market.

Market Reports: Martin Single Family | Martin Townhouses/Condos

Broward, Palm Beaches & St. Lucie Realtors® is the 3rd largest local Realtor® association in the country, representing 33,000 Realtors®, 35,000 MLS subscribers, and 5 regional boards across South Florida & the Treasure Coast. For more info, visit Rworld.com or contact Communications@rworld.com.