Martin County Townhouses and Condos August 2023 Market Report
The Martin County Townhouses and Condos real estate market showed slightly improved closed activity when compared to last year. Even as we continue to encounter headwinds of increasing mortgage rates and other economic uncertainties. Closed sales for the month were up by 4.4%. They were up by 30.8% in July. New sales under contract (new pending sales) were down by 19.2% from last year. They were up by 2.2% in July.
Prices were mixed for August. The median sales price decreased by 4.4% (was up by 2.9% last month). And, the average sales price increased by 4.8% (was up by 42.1% in July).
The available townhouses and condos inventory increased by 11 units to 291 properties. This is a 55.0% greater supply of inventory than we had in August 2022. Currently, there’s a 3.3-month supply of inventory (compared to 2.1 months for August 2022). We remain in a seller’s market for townhouses and condos in Martin County, though trending towards a more balanced market. Typically, a balanced market favoring neither buyers nor sellers is considered to be one with 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.
Search for previous Martin County townhouses and condos market reports
Recent County Market Report Posts:
- St Lucie County Townhouses and Condos November 2024 Market Report
- St Lucie County Single Family Homes November 2024 Market Report
- Martin County Townhouses and Condos November 2024 Market Report
- Martin County Single Family Homes November 2024 Market Report
- St Lucie County Townhouses and Condos October 2024 Market Report
- St Lucie County Single Family Homes October 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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