Martin County Single Family Homes August 2022 Market Report
The Martin County Single Family Homes Market Report showed considerably weaker activity than last August. While the historically low inventory is slowly improving (though still low), we are also facing rising interest rates and higher prices. I expect inventory to continue to increase which will exert downward pressure on prices and hopefully an increase in sales. Though, this will take some time. Closed sales were down by 17.6% from last year (were down by 46.9% in July). While new pending sales decreased by 6.8% as compared to last year (decreased by 25.5% last month).
Prices were mixed for the month of August. The median sales price increased from last year by 33.3% (it was up by 18.8% in July) while the average sales price decreased by 0.5% (it was up by 19.5% last month).
The inventory of available single-family homes decreased by 3 homes from last month to 490. This is 62.3% larger inventory than last August. The current supply of homes is 2.6 months. For August of last year, it was 1.2 months of supply. We remain in an extreme seller’s market for Martin County single-family home sales. A balanced market favoring neither buyers nor sellers is considered to be a 6 to 7 month supply of inventory.
Click here to view the previous Martin County single-family homes market reports
- St Lucie County Townhouses and Condos March 2024 Market Report
- St Lucie County Single Family Homes March 2024 Market Report
- Martin County Townhouses and Condos March 2024 Market Report
- Martin County Single Family Homes March 2024 Market Report
- St Lucie County Townhouses and Condos February 2024 Market Report
- St Lucie County Single Family Homes February 2024 Market Report
To view the latest set of reports from Florida Realtors for the state of Florida, Martin County, and Saint Lucie County, please visit GabeSanders.com and select Market Data.
Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.
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