Martin County Townhouses and Condos June 2022 Market Report
The Martin County Townhouses and Condos had weaker sales volume when compared to last June. While we continue to have historically low inventory (though it is increasing), we are also facing rising interest rates and higher prices. I expect inventory to continue to increase which will exert downward pressure on prices and hopefully an increase in sales. Though, this will take some time. (Don’t ask me how long!) Closed sales for the month were down by 26.1%. They were down by 19.9% in May. New sales under contract (new pending sales) were down by 35.4% from last year. They were down by 27.6% in May.
Prices continue to go up. The median sales price increased by 48.4% (was up by 27.4% last month). While the average sales price increased by 40.7% (was up by 34.6% in May).
The inventory of available townhouses and condos increased by 49 units to 187 properties. This is a 46.1% greater supply of inventory than we had in June 2021. Currently, there’s a 1.8 months supply of inventory (compared to 1.1 months for June 2021). We remain in a very extreme 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.
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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