Martin County Townhouses and Condos May 2024 Market Report
The Martin County Townhouses and Condos real estate market showed stronger sales activity when compared to last year. Even as we continue to encounter headwinds of economic uncertainties and high mortgage rates. Closed sales for the month were up by 21.1%. They were down by 4.2% in April. New sales under contract (new pending sales) were down 18.4% from last year. They were up by 20.4% in April.
Prices were down for May. The median sales price decreased by 1.7% (was down by 0.8% last month). And, the average sales price decreased by 11.6% (was down by 14.6% in April).
The available townhouses and condos inventory increased by 7 units to 561 properties. This is an 88.3% greater supply of inventory than we had in May 2023. Currently, there’s a 6.4-month supply of inventory (compared to 3.5 months for May 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:
- St Lucie County Townhouses and Condos August 2024 Market Report
- St Lucie County Single Family Homes August 2024 Market Report
- Martin County Townhouses and Condos August 2024 Market Report
- Martin County Single Family Homes August 2024 Market Report
- St. Lucie County Townhouses and Condos 2024 2nd Quarter Report
- St. Lucie County Single Family Homes 2024 2nd Quarter 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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