Martin County Single Family Homes September 2022 Market Report
The Martin County Single Family Homes Market Report showed considerably weaker activity than last September. 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 15.3% from last year (they were down by 17.6% in August). While new pending sales decreased by 38.6% as compared to last year (decreased by 6.8% last month).
Prices were up for the month of September. The median sales price increased from last year by 21.1% (up by 33.3% in August) while the average sales price increased by 18.2% (down by 0.5% last month).
The inventory of available single-family homes decreased by 4 from last month to 486. This is a 67.6% larger inventory than last September. The current supply of homes is 2.7 months. For September 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 May 2024 Market Report
- St Lucie County Single Family Homes May 2024 Market Report
- Martin County Townhouses and Condos May 2024 Market Report
- Martin County Single Family Homes May 2024 Market Report
- St. Lucie County Townhouses and Condos 2024 1st Quarter Report
- St. Lucie County Single Family Homes 2024 1st Quarter 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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