Martin County Townhomes Market Report

Right now in Martin, there are 120 homes for sale. Buyers have been closing about 23 homes a month over the last three months. At that pace, it would take about 5.2 months to sell everything currently listed. That is a balanced market. Supply and demand are roughly even, so neither side has a clear edge. The typical sold price is $362,500. Among homes that closed, the median sold price was 98% of the median list price of those same sales. 6% of those sales closed above their own list price and 80% sold below their own list price. Once a home goes under contract and closes, it has usually been on the market about 50 days. Sold prices over the last three months are up about 5% compared with the three months before that. New listings (26 in the last 30 days) are roughly keeping up with sales, so inventory is fairly steady. About 19.2% of today's active inventory is selling each month (the absorption rate). Asking prices average about $252 per square foot, while recent sales average about $222 per square foot.