Martin County Townhouses and Condos October 2023 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, though mortgage rates have appeared to peak. Closed sales for the month were down by 30.9%. They were down by 15.5% in September. New sales under contract (new pending sales) were up by 13.3% from last year. They were down by 10.4% in September.
Prices were mixed for October. The median sales price decreased by 1.6% (was down by 4.7% last month). And, the average sales price increased by 24.2% (was up by 1.1% in September).
The available townhouses and condos inventory increased by 41 units to 376 properties. This is a 53.5% greater supply of inventory than we had in October 2022. Currently, there’s a 4.4-month supply of inventory (compared to 2.6 months for October 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.
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 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.
Leave a Reply