Martin County Townhouses and Condos March 2023 Market Report
The Martin County Townhouses and Condos had stronger closed activity for the first time in months. But, we are still encountering headwinds with increasing mortgage rates and other economic uncertainties. Closed sales for the month were up by 16.5%. They were down by 28.4% in February. New sales under contract (new pending sales) were up by 5.1% from last year. They were down by 7.2% in February.
Price activity was mixed for March. The median sales price increased by 1.5% (was up by 10.3% last month). While the average sales price decreased by 2.6% (was down by 5.5% in February).
The available townhouses and condos inventory decreased by 19 units to 289 properties. This is a 147.0% greater supply of inventory than we had in March 2022. Currently, there’s a 3.3 months supply of inventory (compared to 1.0 months for March 2022). We remain in a seller’s market for townhouses and condos in Martin County, though trending towards a more 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.
Search for previous Martin County townhouses and condos market reports
Recent County Market Report Posts:
- St Lucie County Townhouses and Condos February 2024 Market Report
- St Lucie County Single Family Homes February 2024 Market Report
- Martin County Townhouses and Condos February 2024 Market Report
- Martin County Single Family Homes February 2024 Market Report
- St Lucie County Townhouses and Condos January 2024 Market Report
- St Lucie County Single Family Homes January 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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