Search Results for: martin county single family

Martin County Single Family Homes September 2023 Market Report

10.21.23 by

Martin County Single Family Homes September 2023 Market Report

The Martin County Single Family Homes Market Report showed weaker closed activity compared to last year. As we continue to encounter headwinds of increasing mortgage rates and other economic uncertainties. The inventory of available homes for sale declined for the second month in a row. Closed sales were down by 10.0% from last year (they were down by 12.3% in August). At the same time, new pending sales increased by 24.2% compared to last year (which decreased by 15.7% last month).

Prices were mixed for September as compared to last year.  The median sales price increased from last year by 4.8% (down by 12.9% in August) while the average sales price decreased by 5.3% (down by 7.8% last month).

The inventory of available single-family homes decreased by 1 home to 461. This is a 5.1% smaller inventory than last September.  The current supply of homes is 2.9 months.  For September of last year, it was 2.7 months of supply.  We are still in a seller’s market for Martin County single-family home sales, but trending towards a more balanced market.  A balanced market favoring neither buyers nor sellers is considered 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.

Martin County Single Family Homes September 2023 Market Report
Click here to download the full report

Click here to view the previous Martin County single-family homes market reports

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.

Martin County Single Family Homes September 2023 Market Report

Martin County Single Family Homes August 2023 Market Report

09.23.23 by

Martin County Single Family Homes August 2023 Market Report

The Martin County Single Family Homes Market Report showed weaker closed activity compared to last year. As we continue to encounter headwinds of increasing mortgage rates and other economic uncertainties. Even the inventory declined for August. This is the first decline in over a year. Closed sales were down by 12.3% from last year (they were up by 25.0% in July). At the same time, new pending sales decreased by 15.7% compared to last year (which decreased by 6.4% last month).

Prices were down for August as compared to last year.  The median sales price decreased from last year by 12.9% (up by 8.0% in July) while the average sales price decreased by 7.8% (up by 44.0% last month).

The inventory of available single-family homes decreased by 11 homes to 462. This is a 5.7% smaller inventory than last August.  The current supply of homes is 2.9 months.  For August of last year, it was 2.6 months of supply.  We are still in a seller’s market for Martin County single-family home sales, but trending towards a more balanced market.  A balanced market favoring neither buyers nor sellers is considered 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.

Martin County Single Family Homes August 2023 Market Report
Click here to download the full report

Click here to view the previous Martin County single-family homes market reports

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.

Martin County Single Family Homes August 2023 Market Report

Martin County Single Family Homes 2023 2nd Quarter Report

08.31.23 by

Martin County Single Family Homes 2023 2nd Quarter Report

Click the image below to view the full details of the Martin County Single Family Homes quarterly data reported by Martin County Realtors.

Martin County Single Family Homes 2023 2nd Quarter Report

The Martin County single-family home real estate market is bucking the state trend and had a small increase in closed sales as well as an increase in new pending sales. Prices were also slightly higher than last year. Inventory is also up, though the Martin County single-family real estate market remains in a strong seller’s market. I doubt that we will see any improvement in this market until rates begin to recede.

Click here to view/download the full report

View the entire set of data at GabeSanders.com

View previous Martin County quarterly reports

Martin County Single Family Homes 2023 2nd Quarter Report

Martin County Single Family Homes July 2023 Market Report

08.23.23 by

Martin County Single Family Homes July 2023 Market Report

The Martin County Single Family Homes Market Report showed better-closed activity than last year. Even as we continue to encounter headwinds of increasing mortgage rates and other economic uncertainties. Closed sales were up by 25.0% from last year (they were up by 4.3% in June). At the same time, new pending sales decreased by 6.4% compared to last year (which increased by 5.7% last month).

Prices were up for July compared to last year.  The median sales price increased from last year by 8.0% (up by 1.4% in June) while the average sales price increased by 44.0% (down by 10.1% last month).

The inventory of available single-family homes rose by 6 homes to 473. This is an 11.5% greater inventory than last July.  The current supply of homes is 2.9 months.  For July of last year, it was 2.6 months of supply.  We are still in a seller’s market for Martin County single-family home sales, but trending towards a more balanced market.  A balanced market favoring neither buyers nor sellers is considered 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.

Martin County Single Family Homes July 2023 Market Report
Click here to download the full report

Click here to view the previous Martin County single-family homes market reports

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.

Martin County Single Family Homes July 2023 Market Report

Martin County Single Family Homes June 2023 Market Report

07.22.23 by

Martin County Single Family Homes June 2023 Market Report

The Martin County Single Family Homes Market Report showed slightly better-closed activity than last year. We are still encountering headwinds with increasing mortgage rates and other economic uncertainties. Closed sales were up by 4.3% from last year (they were down by 4.2% in May). At the same time, new pending sales increased by 5.7% compared to last year (which decreased by 5.1% last month).

Prices were mostly flat or lower for June with little changes from last year.  The median sales price increased from last year by 1.4% (up by 8.1% in May) while the average sales price decreased by 10.1% (up by 3.1% last month).

The inventory of available single-family homes rose by 4 homes to 467. This is an 8.9% greater inventory than last June.  The current supply of homes is 2.9 months.  For June of last year, it was 2.2 months of supply.  We are still in a seller’s market for Martin County single-family home sales, but trending towards a more balanced market.  A balanced market favoring neither buyers nor sellers is considered 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.

Martin County Single Family Homes June 2023 Market Report
Click here to download the full report

Click here to view the previous Martin County single-family homes market reports

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.

Martin County Single Family Homes June 2023 Market Report

Martin County Single Family Homes May 2023 Market Report

06.24.23 by

Martin County Single Family Homes May 2023 Market Report

The Martin County Single Family Homes Market Report showed slightly slower closed activity than last year. We are still encountering headwinds with increasing mortgage rates and other economic uncertainties. Closed sales were down by 4.2% from last year (they were up by 3.6% in April). At the same time, new pending sales decreased by 5.1% compared to last year (which increased by 8.4% last month).

Prices were up for May.  The median sales price increased from last year by 8.1% (down by 8.0% in April) while the average sales price increased by 3.1% (up by 14.4% last month).

The inventory of available single-family homes remained unchanged at 463. This is a 35.8% greater inventory than last May.  The current supply of homes is 2.9 months.  For May of last year, it was 1.7 months of supply.  We are still in a seller’s market for Martin County single-family home sales, but trending towards a more balanced market.  A balanced market favoring neither buyers nor sellers is considered a 6 to 7-month supply of inventory.

Martin County Single Family Homes May 2023 Market Report
Click here to download the full report

Click here to view the previous Martin County single-family homes market reports

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.

Martin County Single Family Homes May 2023 Market Report

Martin County Single Family Homes 2023 1st Quarter Report

05.26.23 by

Martin County Single Family Homes 2023 1st Quarter Report

Click the image below to view the full details of the Martin County Single Family Homes quarterly data reported by Martin County Realtors.

Martin County Single Family Homes 2023 1st Quarter Report

The Martin County single-family home real estate market continued the trend of reduced sales volume. Prices were mixed for the quarter and the inventory is continuing to increase, but it is not bringing in more buyers to date.  Compared to the other areas I track, the Martin County single-family real estate market still outperforms most areas locally and nationwide. I doubt we will see any improvement until either interest rates or prices begin to go down—hopefully, both.

Click here to view/download the full report

View the entire set of data at GabeSanders.com

View previous Martin County quarterly reports

Martin County Single Family Homes 2023 1st Quarter Report

Martin County Single Family Homes April 2023 Market Report

05.20.23 by

Martin County Single Family Homes April 2023 Market Report

The Martin County Single Family Homes Market Report continues to buck the trend with improved sales activity for the second month in a row. But, we are still encountering headwinds with increasing mortgage rates and other economic uncertainties. Closed sales were up by 3.6% from last year (they were up by 12.5% in March). At the same time, new pending sales increased by 8.4% compared to last year (which increased by 14.4% last month).

Prices were mixed for April.  The median sales price decreased from last year by 8.0% (up by 6.1% in March) while the average sales price increased by 14.4% (up by 26.0% last month).

The inventory of available single-family homes decreased by 26 units from last month to 463. This is a 72.8% greater inventory than last April.  The current supply of homes is 2.9 months.  For April of last year, it was 1.3 months of supply.  We are still in a seller’s market for Martin County single-family home sales, but trending towards a more balanced market.  A balanced market favoring neither buyers nor sellers is considered a 6 to 7-month supply of inventory.

Martin County Single Family Homes April 2023 Market Report
Click here to download the full report

Click here to view the previous Martin County single-family homes market reports

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.

Martin County Single Family Homes April 2023 Market Report

Martin County Single Family Homes March 2023 Market Report

04.23.23 by

Martin County Single Family Homes March 2023 Market Report

The Martin County Single Family Homes Market Report had stronger closed activity for the first time in months. But, we are still encountering headwinds with increasing mortgage rates and other economic uncertainties. Closed sales were up by 12.5% from last year (they were down by 27.1% in February). At the same time, new pending sales increased by 14.4% compared to last year (which increased by 3.6% last month).

Prices were up for March.  The median sales price increased from last year by 6.1% (up by 3.3% in February) while the average sales price increased by 26.0% (down by 10.3% last month).

The inventory of available single-family homes decreased by 26 units from last month to 489. This is a 119.3% greater inventory than last March.  The current supply of homes is 3.1 months.  For March of last year, it was 1.0 months of supply.  We are still in a seller’s market for Martin County single-family home sales, but trending towards a more balanced market.  A balanced market favoring neither buyers nor sellers is considered a 6 to 7-month supply of inventory.

Martin County Single Family Homes March 2023 Market Report
Click here to download the full report

Click here to view the previous Martin County single-family homes market reports

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.

Martin County Single Family Homes March 2023 Market Report

Martin County Single Family Homes February 2023 Market Report

03.23.23 by

Martin County Single Family Homes February 2023 Market Report

The Martin County Single Family Homes Market Report continues to show weaker sales activity when compared to last year though there are some signs of a slow turnaround. The inventory numbers are growing, but we are facing headwinds with increasing mortgage rates and other economic uncertainties. Closed sales were down by 27.1% from last year (they were down by 20.4% in January). At the same time, new pending sales increased by 3.6% compared to last year (which decreased by 15.6% last month).

Prices were mixed for February.  The median sales price increased from last year by 3.3% (up by 9.7% in January) while the average sales price decreased by 10.3% (down by 36.7% last month).

The inventory of available single-family homes decreased by 15 units from last month to 515. This is a 189.3% greater inventory than last February.  The current supply of homes is 3.3 months.  For February of last year, it was 0.8 months of supply.  We are still in a seller’s market for Martin County single-family home sales, but trending towards a more balanced market.  A balanced market favoring neither buyers nor sellers is considered a 6 to 7-month supply of inventory.

Martin County Single Family Homes February 2023 Market Report
Click here to download the full report

Click here to view the previous Martin County single-family homes market reports

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.

Martin County Single Family Homes February 2023 Market Report

Martin County Single Family Homes January 2023 Market Report

02.23.23 by

Martin County Single Family Homes January 2023 Market Report

The Martin County Single Family Homes Market Report continues to show weaker sales activity when compared to last year. The inventory numbers are growing, but we are facing headwinds with increasing mortgage rates. Closed sales were down by 20.4% from last year (they were down by 37.6% in December). At the same time, new pending sales decreased by 15.6% compared to last year (which decreased by 31.8% last month).

Prices were mixed for the month of January with a considerable drop in the average sales price.  The median sales price increased from last year by 9.7% (down by 3.4% in December) while the average sales price decreased by 36.7% (down by 18.8% last month).

The inventory of available single-family homes increased by 31 units from last month to 530. This is a 248.7% greater inventory than last January.  The current supply of homes is 3.3 months.  For January of last year, it was 0.7 months of supply.  We are still in a seller’s market for Martin County single-family home sales, but trending towards a more balanced market.  A balanced market favoring neither buyers nor sellers is considered a 6 to 7 month supply of inventory.

Martin County Single Family Homes January 2023 Market Report
Click here to download the full report

Click here to view the previous Martin County single-family homes market reports

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.

Martin County Single Family Homes January 2023 Market Report

Martin County Single Family Homes December 2022 Market Report

02.03.23 by

Martin County Single Family Homes December 2022 Market Report

The Martin County Single Family Homes Market Report continues to show weaker sales activity when compared to last year. The inventory numbers are growing, but we are facing headwinds with increasing mortgage rates. Prices have dropped for the last two months which may be an indication for future increased sales activity. Closed sales were down by 37.6% from last year (they were down by 45.4% in November). At the same time, new pending sales decreased by 31.8% compared to last year (which decreased by 36.7% last month).

Year-to-year prices were down for the month of December.  The median sales price decreased from last year by 3.4% (down by 4.0% in November) while the average sales price decreased by 18.8% (down by 7.0% last month).

The inventory of available single-family homes decreased by 21 units from last month to 499. This is a 185.1% greater inventory than last December.  The current supply of homes is 3.1 months.  For December of last year, it was 0.8 months of supply.  We remain in a seller’s market for Martin County single-family home sales.  A balanced market favoring neither buyers nor sellers is considered a 6 to 7 month supply of inventory.

Martin County Single Family Homes December 2022 Market Report
Click here to download the full report

Click here to view the previous Martin County single-family homes market reports

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.

Martin County Single Family Homes December 2022 Market Report

Martin County Single Family Homes 2022 4th Quarter Report

01.28.23 by

Martin County Single Family Homes 2022 4th Quarter Report

Click the image below to view the full details of the Martin County Single Family Homes quarterly data reported by Martin County Realtors.

Martin County Single Family Homes 2022 4th Quarter Report

The Martin County single-family home market continued the trend of reduced sales volume. Prices, unfortunately still rose, but at a reduced rate from previous reports. Inventory is increasing drifting us closer to a balanced market, though we are not quite there yet (still a seller’s market). Interest rates rose this past quarter but now seem to be flattening out which should be good for the future. If we can get prices under control, 2023 may end up being a decent market.

Click here to view/download the full report

View the entire set of data at GabeSanders.com

View previous Martin County quarterly reports

Martin County Single Family Homes 2022 4th Quarter Report

Martin County Single Family Home Sales 2022 Yearly Review

01.22.23 by

Martin County Single Family Home Sales 2022 Yearly Review

The Martin County Single Family Home Sales for 2022 as reported by Florida Realtors is now showing the turnaround the real estate market has experienced with prices that rose too rapidly, increasing mortgage rates, and worries about an upcoming recession. Year-to-year closed sales were down by 30.1% (were up by 5.4% in 2021) and new sales under contract (new pending sales) decreased by 30.3% (was down by 1.9% in 2021).

Martin County Single Family Home Sales 2022 Yearly Review
Click on the image for the full report

Both median and average sales prices continued to rise (2021 to 2022) by 17.8% and 7.2% respectively.  This rate while positive is not as high as last year which was 19.9% and 35.9% respectively in 2021.

The inventory of available homes for sale rose by 185.1% from 2021.  While the monthly supply of homes increased to 3.1 months. Still a seller’s market.  Typically a 6-month inventory indicates a balanced market where neither the seller nor the buyer has an advantage.

To view the full report click on the graphic above or the link below:
Martin County Single Family Home Sales 2022 Yearly Review

Click here to view previous Martin County yearly reviews!

To view the complete 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.

Martin County Single Family Home Sales 2022 Yearly Review

Martin County Single Family Homes November 2022 Market Report

12.23.22 by

Martin County Single Family Homes November 2022 Market Report

The Martin County Single Family Homes Market Report continues to show weaker sales activity when compared to last year. The inventory numbers are improving, but we are facing headwinds with increasing mortgage rates as well as stubbornly high prices (though they did go down this month). Closed sales were down by 45.4% from last year (they were down by 36.2% in October). At the same time, new pending sales decreased by 36.7% compared to last year (which decreased by 38.1% last month).

Year-to-year prices were down for the month of November.  The median sales price decreased from last year by 4.0% (up by 14.8% in October) while the average sales price decreased by 7.0% (up by 42.1% last month).

The inventory of available single-family homes decreased by 1 unit from last month to 520. This is a 125.1% greater inventory than last November.  The current supply of homes is 3.1 months.  For November of last year, it was 1.0 months of supply.  We remain in a seller’s market for Martin County single-family home sales.  A balanced market favoring neither buyers nor sellers is considered to be a 6 to 7 month supply of inventory.

Martin County Single Family Homes November 2022 Market Report
Click here to download the full report

Click here to view the previous Martin County single-family homes market reports

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.

Martin County Single Family Homes November 2022 Market Report

Martin County Single Family Homes 2022 3rd Quarter Report

11.30.22 by

Martin County Single Family Homes 2022 3rd Quarter Report

Click the image below to view the full details of the Martin County Single Family Homes quarterly data as reported by Martin County Realtors.

Martin County Single Family Homes 2022 3rd Quarter Report

The Martin County single-family home market had weaker sales volume and higher prices when compared to the 3rd quarter of 2021. The good news is that inventory is beginning to increase. The bad news is that it’s not enough yet and there are also higher prices and interest rates. This is causing a market that is in transition, though I think it will take some time and may be painful for both buyers and sellers of residential real estate before we see significant improvement.

Click here to view/download the full report

View the entire set of data at GabeSanders.com

View previous Martin County quarterly reports

Martin County Single Family Homes 2022 3rd Quarter Report

Martin County Single Family Homes October 2022 Market Report

11.22.22 by

Martin County Single Family Homes October 2022 Market Report

The Martin County Single Family Homes Market Report continues to show weaker sales activity when compared to last year. The inventory numbers are improving, but we are facing headwinds with increasing mortgage rates as well as stubbornly high prices. Closed sales were down by 36.2% from last year (they were down by 15.3% in September). At the same time, new pending sales decreased by 38.1% as compared to last year (decreased by 38.6% last month).

Year-to-year prices were up for the month of October.  The median sales price increased from last year by 14.8% (up by 21.1% in September) while the average sales price increased by 42.1% (up by 18.2% last month).

The inventory of available single-family homes increased by 35 units from last month to 521. This is a 107.6% larger inventory than last October.  The current supply of homes is 2.9 months.  For October of last year, it was 1.0 months of supply.  We remain in a seller’s market for Martin County single-family home sales.  A balanced market favoring neither buyers nor sellers is considered to be a 6 to 7 month supply of inventory.

Martin County Single Family Homes October 2022 Market Report
Click here to download the full report

Click here to view the previous Martin County single-family homes market reports

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.

Martin County Single Family Homes October 2022 Market Report

Martin County Single Family Homes September 2022 Market Report

10.22.22 by

Martin County Single Family Homes September 2022 Market Report

The Martin County Single Family Homes Market Report showed considerably weaker activity than last September. While the historically low inventory is slowly improving (though still low), we are also facing rising interest rates and higher prices. I expect inventory to continue to increase which will exert downward pressure on prices and hopefully an increase in sales. Though, this will take some time. Closed sales were down by 15.3% from last year (they were down by 17.6% in August).  While new pending sales decreased by 38.6% as compared to last year (decreased by 6.8% last month).

Prices were up for the month of September.  The median sales price increased from last year by 21.1% (up by 33.3% in August) while the average sales price increased by 18.2% (down by 0.5% last month).

The inventory of available single-family homes decreased by 4 from last month to 486. This is a 67.6% larger inventory than last September.  The current supply of homes is 2.7 months.  For September of last year, it was 1.2 months of supply.  We remain in an extreme seller’s market for Martin County single-family home sales.  A balanced market favoring neither buyers nor sellers is considered to be a 6 to 7 month supply of inventory.

Martin County Single Family Homes September 2022 Market Report
Click here to download the full report

Click here to view the previous Martin County single-family homes market reports

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.

Martin County Single Family Homes August 2022 Market Report

Martin County Single Family Homes August 2022 Market Report

09.23.22 by

Martin County Single Family Homes August 2022 Market Report

The Martin County Single Family Homes Market Report showed considerably weaker activity than last August. While the historically low inventory is slowly improving (though still low), we are also facing rising interest rates and higher prices. I expect inventory to continue to increase which will exert downward pressure on prices and hopefully an increase in sales. Though, this will take some time. Closed sales were down by 17.6% from last year (were down by 46.9% in July).  While new pending sales decreased by 6.8% as compared to last year (decreased by 25.5% last month).

Prices were mixed for the month of August.  The median sales price increased from last year by 33.3% (it was up by 18.8% in July) while the average sales price decreased by 0.5% (it was up by 19.5% last month).

The inventory of available single-family homes decreased by 3 homes from last month to 490. This is 62.3% larger inventory than last August.  The current supply of homes is 2.6 months.  For August of last year, it was 1.2 months of supply.  We remain in an extreme seller’s market for Martin County single-family home sales.  A balanced market favoring neither buyers nor sellers is considered to be a 6 to 7 month supply of inventory.

Martin County Single Family Homes August 2022 Market Report
Click here to download the full report

Click here to view the previous Martin County single-family homes market reports

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.

Martin County Single Family Homes August 2022 Market Report

Martin County Single Family Homes July 2022 Market Report

08.23.22 by

Martin County Single Family Homes July 2022 Market Report

The Martin County Single Family Homes Market Report showed considerably weaker activity than last July. While we continue to have historically low inventory (though it is increasing), we are also facing rising interest rates and higher prices. I expect inventory to continue to increase which will exert downward pressure on prices and hopefully an increase in sales. Though, this will take some time. Closed sales were down by 46.9% from last year (were down by 32.7% in June).  While new pending sales decreased by 25.5% as compared to last year (decreased by 30.6% last month).

Prices were up for the month of July.  The median sales price increased from last year by 18.8% (it was up by 20.4% in June) while the average sales price increased by 19.5% (it was up by 2.4% last month).

The inventory of available single-family homes increased by 64 homes from last month to 493. This is 61.6% larger inventory than last July.  The current supply of homes is 2.6 months.  For July of last year, it was 1.2 months of supply.  We remain in an extreme seller’s market for Martin County single-family home sales.  A balanced market favoring neither buyers nor sellers is considered to be a 6 to 7 month supply of inventory.

Martin County Single Family Homes July 2022 Market Report
Click here to download the full report

Click here to view the previous Martin County single-family homes market reports

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.

Martin County Single Family Homes July 2022 Market Report