Martin County Single Family Home Sales 2023 Yearly Review
The Martin County Single Family Home Sales for 2023 as reported by Florida Realtors is now showing the turnaround the real estate market has experienced with prices that rose too rapidly and increasing mortgage rates. Though the numbers are improving from the previous year, signaling that a turnaround may be underway. Year-to-year closed sales were up by 0.1% (were down by 30.1% in 2022) and new sales under contract (new pending sales) increased by 1.3% (was down by 30.3% in 2022).
Both median and average sales prices continued to rise (2022 to 2023) by 3.5% and 2.5% respectively. This rate while positive is not as high as last year which was 17.8% and 7.2% respectively in 2022.
The inventory of available homes for sale rose by 18.2% from 2022. While the monthly supply of homes increased to 3.6 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 2023 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.
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