In my April 2025 Market Update, I showed graphs of the four Treasure Coast Counties in Florida — Palm Beach, Martin, St Lucie and Indian River, from March of 2008 to this year, showing our market's temperment for higher interest rates, geopolitical uncertainty and inflation bringing the volume of sales down significantly from the Covid Era.
This month, let's look at some single family home numbers over the past year in Martin County and see where the market's headed. Closed Sales are down 15% from a year ago and Dollar Volume is down by 14%. Median Sale Price is down only 1.2% and New Listings are up 6.4%. Active inventory in Martin County is up 52% from a year ago which is filling the void created by the migration of buyers moving to Florida a few years ago.
Inventory has risen and demand, while properties are taking longer to sell, seems to be holding sale prices pretty steady. With the huge rise in inventory on the market, it's taking longer to sell houses by more than two months compared to a year ago. The median percent of original list price is about 93% which is where the market was prior to 2021.
Cash sales in Martin County are down from almost 61% to about 56% compared to a year ago. Median Time to Contract is only 37 days in Martin County, showing market influence on pricing. The outliers are sellers pricing high, then remaining on the market. Six months supply of inventory is considered a balanced market between buyers and sellers in real estate.
Understanding what's happening in the market helps you as a buyer or seller when considering transacting real estate. For additional insights and info on other counties or cities, call, text or email or visit monaleonard.com/blog.