Martin County Townhouses and Condos August 2024 Market Report
The Martin County Townhouses and Condos real estate market had weaker sales activity when compared to last year. We continue to face headwinds with many economic uncertainties and high mortgage rates, though recent moves from the Fed should hopefully help in the near future. Closed sales for the month were down by 29.8%. They were down by 22.5% in July. New sales under contract (new pending sales) were down 19.0% from last year. They were down by 43.2% in July.
Prices were also down for August. The median sales price decreased by 0.3% (was down by 2.9% last month). And, the average sales price decreased by 10.2% (was down by 13.3% in July).
The available townhouses and condos inventory decreased by 2 units to 539 properties. This is an 85.2% greater supply of inventory than we had in August 2023. Currently, there’s a 6.6-month supply of inventory (compared to 3.3 months for August 2023). We remain in a balanced 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.
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 October 2024 Market Report
- St Lucie County Single Family Homes October 2024 Market Report
- Martin County Townhouses and Condos October 2024 Market Report
- Martin County Single Family Homes October 2024 Market Report
- St. Lucie County Townhouses and Condos 2024 3rd Quarter Report
- St. Lucie County Single Family Homes 2024 3rd 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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