Martin County Townhouses and Condos July 2024 Market Report
The Martin County Townhouses and Condos real estate market showed weaker sales activity when compared to last year. We continue to encounter headwinds of economic uncertainties and high mortgage rates. Closed sales for the month were down by 22.5%. They were down by 23.9% in June. New sales under contract (new pending sales) were down 43.2% from last year. They were down by 13.1% in June.
Prices were also down for July. The median sales price decreased by 2.9% (was down by 5.5% last month). And, the average sales price decreased by 13.3% (was down by 10.2% in June).
The available townhouses and condos inventory increased by 10 units to 541 properties. This is a 93.2% greater supply of inventory than we had in July 2023. Currently, there’s a 6.5-month supply of inventory (compared to 3.1 months for July 2023). We remain in 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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