Martin County Townhouses and Condos July 2020 Market Report

Martin County Townhouses and Condos July 2020 Market Report

The Martin County Townhouses and Condos market is now showing strong recovery from the effects of the current pandemic. Closed sales for the month were up by 5.2%.  They were down by 5.9% in June.  New sales under contract (new pending sales) were up by 34.7% from last month.  They were up by 38.6% for June.

Prices were also up for July.  The median sales price decreased by 5.6% (was down by 6.0% last month). While the average sales price increased by 7.4% (was down by 9.4% in June).

The inventory of available townhouses and condos decreased by 12 units to 365 properties.  This is a 2.0% greater inventory then we had in July 2019.  Currently, there’s a 4.2 months supply of inventory (compared to 3.9 months for July 2019).  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.

Martin County Townhouses and Condos July 2020 Market Report

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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.

Martin County Townhouses and Condos July 2020 Market Report

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