Martin County Townhouses and Condos May 2022 Market Report
The Martin County Townhouses and Condos had weaker sales volume when compared to last May. Due mostly because we continue to be in a market with low inventory (which may be changing) and increasing borrowing costs. Closed sales for the month were down by 19.9%. They were down by 24.8% in April. New sales under contract (new pending sales) were down by 27.6% from last year. They were down by 26.3% in April.
Prices continue to go up. The median sales price increased by 27.4% (was up by 22.9% last month). While the average sales price increased by 34.6% (was up by 0.1% in April).
The inventory of available townhouses and condos increased by 21 units to 138 properties. This is a 6.2% greater supply of inventory than we had in May 2021. Currently, there’s a 1.3 months supply of inventory (compared to 1.1 months for May 2022). 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 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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