Martin County Single Family Homes April 2023 Market Report

Martin County Single Family Homes April 2023 Market Report

The Martin County Single Family Homes Market Report continues to buck the trend with improved sales activity for the second month in a row. But, we are still encountering headwinds with increasing mortgage rates and other economic uncertainties. Closed sales were up by 3.6% from last year (they were up by 12.5% in March). At the same time, new pending sales increased by 8.4% compared to last year (which increased by 14.4% last month).

Prices were mixed for April.  The median sales price decreased from last year by 8.0% (up by 6.1% in March) while the average sales price increased by 14.4% (up by 26.0% last month).

The inventory of available single-family homes decreased by 26 units from last month to 463. This is a 72.8% greater inventory than last April.  The current supply of homes is 2.9 months.  For April of last year, it was 1.3 months of supply.  We are still in a seller’s market for Martin County single-family home sales, but trending towards a more balanced market.  A balanced market favoring neither buyers nor sellers is considered a 6 to 7-month supply of inventory.

Martin County Single Family Homes April 2023 Market Report

Click here to view the previous Martin County single-family homes market reports

To view the latest 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.

Martin County Single Family Homes April 2023 Market Report

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