Martin County Townhouses and Condos January 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 22.0%. They were up by 17.4% in December. New sales under contract (new pending sales) were down by 12.2% from last year. They were up by 7.4% in December.
Prices were down for January. The median sales price decreased by 11.1% (was up by 6.7% last month). And, the average sales price decreased by 11.0% (was up by 19.8% in December).
The available townhouses and condos inventory increased by 59 units to 508 properties. This is a 69.3% greater supply of inventory than we had in January 2023. Currently, there’s a 5.9 month supply of inventory (compared to 3.4 months for January 2023). We remain in a seller’s market for townhouses and condos in Martin County, though just about to enter a 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 March 2024 Market Report
- 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
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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