Martin County Townhouses and Condos Sales 2024 Yearly Review

The Martin County Townhouses and Condos Sales for 2024 are showing an adjustment to the real estate market due to prices that rose too rapidly during COVID and increasing mortgage and insurance rates. Additionally, the required milestone reports for buildings three stories or higher and associated assessments have had an impact. The numbers are mixed when compared to the previous year. Year-to-year closed sales were down by 4.1% as compared to 2023 which were down by 5.5% and new sales under contract (new pending sales) decreased by 10.3% (2023 saw a decrease of 1.8%).

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Both median and average sales prices were down (year to year) by 3.1% and 8.5% respectively (2023 numbers were up 5.4% and 9.9%). This at the same time days on market has increased 44.7%.

Inventory increased by 41.4% as compared to 2023’s increase of 54.3%. And the supply of inventory rose to 7.7 months as compared to 5.2 months for 2023. It is now a buyer’s market for Martin County townhouses and condos.

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Martin County Townhouse and Condo Sales 2024 Yearly Review

Here are the previous Martin County yearly reviews!

To view the latest reports from Florida Realtors for the state of Florida, Martin County, and Saint Lucie County, please visit PineappleGroupFL.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.