Martin County Single Family Homes August 2023 Market Report
The Martin County Single Family Homes Market Report showed weaker closed activity compared to last year. As we continue to encounter headwinds of increasing mortgage rates and other economic uncertainties. Even the inventory declined for August. This is the first decline in over a year. Closed sales were down by 12.3% from last year (they were up by 25.0% in July). At the same time, new pending sales decreased by 15.7% compared to last year (which decreased by 6.4% last month).
Prices were down for August as compared to last year. The median sales price decreased from last year by 12.9% (up by 8.0% in July) while the average sales price decreased by 7.8% (up by 44.0% last month).
The inventory of available single-family homes decreased by 11 homes to 462. This is a 5.7% smaller inventory than last August. The current supply of homes is 2.9 months. For August of last year, it was 2.6 months of supply. We are still in a seller’s market for Martin County single-family home sales, but trending towards a more balanced market. A balanced market favoring neither buyers nor sellers is considered a 6 to 7-month supply of inventory.
Please click on the image or link below to download the full Florida single-family real estate market report.
Click here to view the previous Martin County single-family homes market reports
- St. Lucie County Townhouses and Condos 2024 1st Quarter Report
- St. Lucie County Single Family Homes 2024 1st Quarter Report
- Martin County Townhouses and Condos 2024 1st Quarter Report
- Martin County Single Family Homes 2024 1st Quarter Report
- St Lucie County Townhouses and Condos April 2024 Market Report
- St Lucie County Single Family Homes April 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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