Martin County Townhouses and Condos March 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 3.5%. They were up by 2.4% in February. New sales under contract (new pending sales) were down 17.9% from last year. They were unchanged in February.
Prices were up for March. The median sales price increased by 18.0% (was down by 6.8% last month). And, the average sales price increased by 18.5% (was down by 0.5% in February).
The available townhouses and condos inventory decreased by 28 units to 520 properties. This is a 79.9% greater supply of inventory than we had in March 2023. Currently, there’s a 6.0 months supply of inventory (compared to 3.3 months for March 2023). We’ve re-entered 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:
- Martin County Townhouses and Condos June 2024 Market Report
- Martin County Single Family Homes June 2024 Market Report
- St Lucie County Townhouses and Condos May 2024 Market Report
- St Lucie County Single Family Homes May 2024 Market Report
- Martin County Townhouses and Condos May 2024 Market Report
- Martin County Single Family Homes May 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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