Martin County Townhouses and Condos August 2021 Market Report

Martin County Townhouses and Condos August 2021 Market Report

The Martin County Townhouses and Condos showed less closed sales when compared to last year. New pending sales, however, did show a small improvement. Currently, the inventory is very low and prices are quite high making this a difficult market. Closed sales for the month were down by 2.8%.  They were up by 8.9% in July.  New sales under contract (new pending sales) were up by 6.6% from last year.  They were down by 25.0% in July.

Prices continued to rise in August.  The median sales price increased by 14.0% (was up by 17.8% last month). While the average sales price increased by 31.4% (was up by 26.9% in July).

The inventory of available townhouses and condos increased by 4 units to 135 properties.  This is a 57.5% smaller supply of inventory than we had in August 2020.  Currently, there’s a 1.1 months supply of inventory (compared to 3.6 months for August 2020).  We remain in a seller’s market for townhouses and condos in Martin County. Typically, a balanced market favoring neither buyers nor sellers is considered to be one with a 6 to 7 month supply of inventory.

Martin County Townhouses and Condos August 2021 Market Report

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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.

Martin County Townhouses and Condos August 2021 Market Report

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