Martin County Townhouses and Condos February 2025 Market Report
The Martin County Townhouses and Condos real estate market had weaker sales activity when compared to last year. We continue to face headwinds with many economic uncertainties including high mortgage and insurance rates. Closed sales for the month were down by 24.7%. They were down by 8.2% in January. New sales under contract (new pending sales) were down by 3.9%. They were down by 21.9% in January.
Prices may be turning a corner and leveling out. The median sales price decreased by only 1.5% (was down by 17.3% last month). And, the average sales price increased by 7.1% (was down by 11.7% in January).
The available townhouses and condos inventory increased to 806 properties. This is a 47.1% greater supply of inventory than we had in February 2024. Currently, there’s a 10.1-month supply of inventory (compared to 6.3 months for February 2024). We are now in a market clearly favoring buyers 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…