Martin County Townhouses and Condos February 2023 Market Report
The Martin County Townhouses and Condos market continues to show weaker sales activity when compared to last year though there are some signs of a slow turnaround. The inventory numbers are growing, but we are facing headwinds with increasing mortgage rates and other economic uncertainties. Closed sales for the month were down by 28.4%. They were down by 43.8% in November. New sales under contract (new pending sales) were down by 7.2% from last year. They were down by 7.5% in January.
Price activity was mixed for February. The median sales price increased by 10.3% (was up by 26.0% last month). While the average sales price decreased by 5.5% (was up by 8.2% in January).
The available townhouses and condos inventory increased by 8 units to 308 properties. This is a 187.9% greater supply of inventory than we had in February 2022. Currently, there’s a 3.6 months supply of inventory (compared to 0.9 months for February 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.
Search for previous Martin County townhouses and condos market reports
Recent County Market Report Posts:
- St Lucie County Single Family Homes March 2024 Market Report
- 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
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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