December 2024
MARTIN COUNTY MARKET UPDATE
The Martin County real estate market closed 2024 on an upward trend in many key indicators for single-family homes, while the townhouse and condo segment displayed a mix of growth and declines. Here is a detailed breakdown of the latest market data:
Martin County Single Family Home
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Closed Sales: 176, marking a 38% increase compared to December 2023.
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Median Sales Price: $585,000, a 4.5% rise year-over-year.
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Active Inventory: 829 listings, up 41% from last year.
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Months Supply of Inventory: 5.1 months, a 3.6% increase year-over-year.
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New Listings: 201, reflecting a 31% gain compared to December 2023.
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New Pending Sales: 131, up 13% year-over-year.
Martin County Townhouses and Condos
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Closed Sales: 73, representing a 9.9% decrease compared to December 2023.
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Median Sales Price: $240,000, down 16% year-over-year.
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Active Inventory: 635 listings, a significant 41% increase from last year.
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Months Supply of Inventory: 7.7 months, a 5.2% rise year-over-year.
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New Listings: 116, a modest 2.7% increase year-over-year.
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New Pending Sales: 57, down 22% compared to December 2023.
The Martin County market demonstrated robust growth in single-family homes, driven by a notable rise in sales, median prices, and inventory. In contrast, townhouses and condos experienced a mix of gains and reductions, with fewer closed sales and a declining median price, offset by growing inventory and supply. These trends highlight evolving opportunities for buyers and sellers as the year concludes.
