Martin County Townhouses and Condos December 2022 Market Report
The Martin County Townhouses and Condos market continues to show weaker sales activity when compared to last year. The inventory numbers are growing, but we are facing headwinds with increasing mortgage rates. Price increases seem to have moderated which may be an indication for future increased sales activity. Closed sales for the month were down by 38.9%. They were down by 26.3% in November. New sales under contract (new pending sales) were down by 26.1% from last year. They were down by 37.5% in November.
Year-to-year prices were mixed. The median sales price decreased by 1.8% (was up by 42.5% last month). While the average sales price increased by 0.8% (was up by 13.1% in November).
The available townhouses and condos inventory increased by 5 units to 291 properties. This is a 282.9% greater supply of inventory than we had in December 2021. Currently, there’s a 3.2 months supply of inventory (compared to 0.7 months for December 2021). 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.
Search for previous Martin County townhouses and condos market reports
Recent County Market Report Posts:
- Martin County Townhouses and Condos March 2024 Market Report
- Martin County Single Family Homes March 2024 Market Report
- St Lucie County Townhouses and Condos February 2024 Market Report
- St Lucie County Single Family Homes February 2024 Market Report
- Martin County Townhouses and Condos February 2024 Market Report
- Martin County Single Family Homes February 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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