Sales by Realtors of existing single-family homes and condominiums in Martin County surged in May, while sales in St. Lucie and Indian River counties remained steady, the latest housing sales data released Tuesday by Florida Realtors shows.
The 152 Martin County single-family homes sold in May was a 31 percent increase over the previous month, though about the same as a year ago.
The $166,250 median price of those homes, though, was down about 18 percent from the previous month and 17 percent from a year ago.
Linda Prange, president of the Realtors Association of Martin County, noted that the median price was still 35 percent higher than the statewide median price of $135,500. The median is the midpoint; half the homes sold for more, half for less.
Prange also said that in the price range between than $99,999 to $1,749,999, where most home prices are, the inventory of properties for sales has dropped by 16 percent in the past year.
“When sellers price their property with the current market conditions in mind, it will sell,” said Prange, director of development/communications for Better Homes and Gardens Real Estate/Laviano & Associates in Stuart. “The sellers who aren’t successful are the ones who are holding to 2004-06 prices.”
St. Lucie County sales were down about 2 percent from the previous month and 12 percent from a year ago, but the median price remained fairly steady.
“We see continued stability for our area with the median pricing on residential homes remaining in the mid-90s since last summer,” said Patty Renna, president-elect of the Realtor Association of St. Lucie. “What is really encouraging is an increase of purchases with financing, reflecting the ability to obtain mortgage funding improving.”
Renna, assistant manager of Prudential Florida Realty in Palm Beach Gardens, said condo sales, the majority of them for cash, continue to improve.
St. Lucie County condo sales were up 18 percent from a year ago, with a 26 percent increase in the median price.
Sales in Indian River County were even with April, but up 12 percent from a year ago, with a modest increase in the median priceStatewide, existing home sales increased 3 percent in May. Sales of existing condos rose 17 percent compared with a year ago.
It’s the sixth consecutive month that Florida Realtors has reported higher year-over-year existing home and existing condo sales statewide.
“With low mortgage rates and a broad inventory of homes at affordable prices, qualified buyers are realizing that there may never be a better time to find the home they’ve been dreaming of in Florida,” said 2011 Florida Realtors President Pat Fitzgerald, manager/broker-associate with Illustrated Properties in Hobe Sound and Mariner Sands Country Club in Stuart. “Consult a local Realtor about qualification criteria and to find out more about opportunities in your local housing market.”
TREASURE COAST HOME SALES
May ’11 Apr. ’10 May ’10 May ’11 Apr. ’10 May ’10
Homes Sold % % Median % %
change change price change change
Indian River 221 -0.1 12.2 $128,000 2.4 6.7
Martin 152 31.0 -0.1 166,250 -17.9 -16.9
St. Lucie 381 -2.3 -12.0 98,000 2.9 -3.0
Florida 17,228 0.2 2.6 135,500 2.9 -5.2
May ’11 Apr. ’10 May ’10 May ’11 Apr. ’10 May ’10
Condos Sold % % Median % %
change change price change change
Indian River 79 -1.3 51.9 $135,000 22.7 2.0
Martin 58 56.8 1.8 82,500 -6.3 -13.2
St. Lucie 91 -2.2 18.2 94,900 0.0 26.5
Florida 8,338 -7.2 12.8 98,200 6.9 1.9
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Tags: Martin, Martin Stable