Martin County Townhouses and Condos February 2024 Market Report
The Martin County Townhouses and Condos real estate market showed improved sales activity when compared to last year. We continue to encounter headwinds of economic uncertainties, though mortgage rates have appeared to peak and started to decline. Closed sales for the month were up by 2.4%. They were up by 22.0% in January. New sales under contract (new pending sales) were unchanged from last year. They were down by 12.2% in January.
Prices were down for February. The median sales price decreased by 6.8% (was down by 11.1% last month). And, the average sales price decreased by 0.5% (was down by 11.0% in January).
The available townhouses and condos inventory increased by 40 units to 548 properties. This is a 77.9% greater supply of inventory than we had in February 2023. Currently, there’s a 6.3 months supply of inventory (compared to 3.6 months for February 2023). We’ve re-entered 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 2024 3rd Quarter Report
- St. Lucie County Single Family Homes 2024 3rd Quarter Report
- Martin County Townhouses and Condos 2024 3rd Quarter Report
- Martin County Single Family Homes 2024 3rd Quarter Report
- St Lucie County Townhouses and Condos September 2024 Market Report
- St Lucie County Single Family Homes September 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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